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Fintech world’s best minds converge at inaugural Dubai Summit

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Dubai is set to host the first-ever Dubai Fintech Summit on May 8 and 9 under the patronage of Sheikh Maktoum bin Mohammed Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE.

The event will take place at Madinat Jumeirah and will bring together over 5,000 global Fintech C-suite executives and technology experts to discuss the latest innovations and challenges in the sector.

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The Summit will feature a lineup of distinguished speakers from both local and international arenas. Notable speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy, and chief executives Bill Winters, Brad Garlinghouse, Piyush Gupta, Jenny Johnson and Brian Armstrong from Standard Chartered, Ripple, DBS Bank Singapore, Franklin Templeton and Coinbase respectively, among others.

Mohammad AlBlooshi

Mohammad Alblooshi, head of organisers DIFC Innovation Hub and Fintech Hive, underscored the importance of the summit. “Nearly 60% of all Fintech companies in the GCC are currently based in the city. With the industry growing at an unprecedented rate, it is crucial for stakeholders to gather and discuss the challenges and opportunities that lie ahead. The Dubai Fintech Summit promises to bring together the most prominent figures in the industry, with an agenda that will captivate and inspire audiences worldwide.”

The global Fintech sector is rapidly growing and is predicted to be valued at $305 billion globally by 2025, according to Research and Markets, an intelligence and market analysis firm.

In the Middle East, Africa and South Asia (MEASA) region, the industry is expected to double in value from $135.9 billion in 2021 to $266.9 billion in 2027, according to a 2022 report by DIFC Fintech Hive.

The DFS will offer a unique platform for startups, investors, and industry leaders to connect and capitalise on the growing Fintech market in the region and beyond. The DFS will feature a series of panel discussions, fireside chats, and over 100 Fintech exhibitors.

There are over 800 Fintech startups worth $15.5 billion in the MEASA region alone, according to data by dealroom.co. Dubai alone is home to over 20% of the world’s Fintech businesses, according to a report by Mordor Intelligence.

Mastercard’s 2022 Digital Payments Index report reveals that digital payments are gaining traction in the MENA region. More than 85% of respondents reported using at least one emerging payment method in the past 12 months, indicating a shift away from cash-based transactions. Among MENA countries, the UAE stands out as being ready to embrace a cashless society. According to the event’s co-host sponsor Visa, 52% of UAE consumers are already cashless or plan to be by 2024.

The DFS will offer attendees a platform to participate in discussions and exchange ideas on emerging trends, regulatory frameworks, and future possibilities.

The event will feature discussions on a range of topics, including ‘Building the Economies of the Future’, ‘Crypto and the Evolving Regulatory Framework’, ‘The World of Finance: Where are the Women?’, and ‘Building a Resilient and Sustainable Financial Sector in the Age of Disruption’. Participants will have the opportunity to gain valuable insights on these critical issues from industry leaders and experts.

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Want a free taxi ride in Dubai? Here’s how to book the new autonomous cab

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Dubai residents can now experience the future of transport with free autonomous taxi rides in parts of Jumeirah and Umm Suqeim.

The Roads and Transport Authority (RTA) has started public operations of its driverless taxi service in partnership with Apollo Go and autonomous driving technology company WeRide.

Passengers can book the vehicles through the Uber or Apollo Go mobile apps at no cost during the current trial phase.

Announcing the launch on social media, the RTA said: “Your next ride could be autonomous, and it’s currently free.”

The rollout follows the introduction of Dubai’s commercial autonomous taxi programme earlier this year, which began with a fleet of 100 driverless vehicles. The fleet is expected to expand gradually as demand grows.

The initiative forms part of the Dubai Self-Driving Transport Strategy, which aims to increase the adoption of autonomous transport and reinforce the emirate’s position as a global leader in smart mobility.

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Sharjah new ticketless parking rules: How to avoid fines in Aljada

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Drivers visiting Sharjah’s Aljada will now pay for parking in selected areas after a new smart parking system went live on July 15.

Launched by Parkin in partnership with Arada, the system uses Automatic Number Plate Recognition (ANPR) technology, allowing motorists to enter and exit without tickets or barriers. Parking fees are paid digitally through Parkin’s payment channels.

Where is paid parking available?

The new system covers selected parking locations across Aljada, including:

  • On-street parking along East Boulevard
  • Designated off-street parking lots
  • Retail parking at The Boulevard, Tiraz, and Misk

How much does parking cost?

Parking charges vary depending on where you park:

East Boulevard (On-street parking)

  • Dh6.30 per hour (including VAT)
  • Operates 24 hours a day

Off-street parking

  • Dh4.20 per hour (including VAT)
  • Charged from 8am to midnight

Retail parking

Visitors parking at The Boulevard, Tiraz and Misk receive:

  • First two hours free
  • Dh10 per hour after the free period

What about residents?

Residents will continue using their allocated parking spaces, while any additional parking will be charged under the new tariff. Seasonal subscriptions will also be available for eligible parking areas.

The rollout marks Parkin’s first operation in Sharjah, expanding beyond Dubai as the company grows its smart parking network.

The ticketless system is designed to improve parking availability and traffic flow across Aljada, one of Sharjah’s fastest-growing mixed-use destinations, which attracts residents, students, workers and visitors throughout the day.

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Visiting Dubai’s City Walk? Here’s What you need to know about the new ticketless parking

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If you’ve ever fumbled for a parking ticket while leaving City Walk or queued at a payment machine, those days are over.

Dubai’s popular lifestyle destination has rolled out a barrierless, ticketless parking system, allowing motorists to drive in and out without collecting a ticket or stopping to pay before exiting.

The new system, introduced by Parkin, uses automatic number plate recognition technology to record when vehicles enter and leave the parking facility, making the entire process faster and more convenient.

How the new parking system works

Instead of paper tickets and exit barriers, cameras identify your vehicle when you enter and exit City Walk.

Parking fees are calculated automatically based on the length of your stay.

If you have a Parkin account, the fee is deducted automatically. Visitors without an account, or those with insufficient balance, will receive a payment link to complete the transaction digitally.

The move is part of Dubai’s wider shift towards smart mobility and cashless services.

Parking charges at City Walk

Visitors can still enjoy one hour of free parking at City Walk.

After the complimentary period, parking is charged at:

  • Dh5 per hour, or part of an hour.

For visitors heading to The Boulevard, a different tariff applies.

The first 30 minutes are free, after which parking costs Dh20 per hour. According to City Walk, these charges are automatically deducted through the visitor’s Salik account.

How to get free parking

Visitors spending Dh50 or more at participating outlets can receive up to three hours of complimentary parking.

To claim the benefit, shoppers and diners must validate their parking at the participating retailer before leaving.

Parking validation is also available for eligible visitors at attractions including Roxy Cinemas, The Green Planet and selected participating outlets.

Part of a growing smart parking network

City Walk is the latest destination to embrace ticketless parking as Dubai continues expanding digital payment solutions across the city.

Earlier, Parkin announced a five-year agreement with Al Ghurair Centre to introduce a similar smart parking system.

Under that arrangement, visitors receive three hours of complimentary parking before charges apply from Monday to Saturday, while parking remains free on Sundays and public holidays.

With barrierless parking now becoming more common across Dubai, motorists can expect quicker entry and exit, fewer queues and a smoother parking experience, without the hassle of paper tickets.

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