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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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Delivery services in UAE get boost with new support package

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Delivery and courier companies in the UAE are set to benefit from a new support package aimed at keeping services running smoothly and easing cost pressures, according to the Postal Sector Regulatory Committee.

The measures target firms in the courier, express and parcels (CEP) sector, which plays a key role in supporting e-commerce and everyday deliveries across the country.

Under the new plan, companies will be allowed to defer all regulatory fees for the first quarter of 2026 to the second quarter, along with a waiver of penalties linked to that period.

Officials say the move is designed to improve cash flow, reduce financial strain, and ensure uninterrupted delivery services, particularly at a time when operators are dealing with rising costs, shipment delays, and growing demand.

For residents and expats, the decision helps support the reliability of delivery services, from online shopping to essential shipments, at a time when demand continues to rise.

The CEP sector remains a backbone of the UAE’s e-commerce ecosystem, enabling faster and more flexible deliveries for businesses and consumers alike.

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New system to catch illegal parking in Dubai mall spaces

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Some of Dubai’s busiest malls are set to introduce AI-powered parking enforcement to address the misuse of spaces reserved for People of Determination (PoD).

Parkin Company has signed a multi-year agreement with Emaar Properties to roll out the system across Dubai Mall, Dubai Hills Mall and Dubai Marina Mall.

The move aims to protect dedicated parking bays, improve compliance, and ease congestion at high-traffic retail destinations frequently visited by residents and tourists.

How the tech works

The system uses Automatic Number Plate Recognition (ANPR) technology to monitor vehicles entering PoD-designated spaces.

Number plates are scanned and checked against valid permits. If no permit is found, the case is flagged for review at a central control centre. Drivers may face penalties, although a short grace period will allow time to move vehicles in case of mistakes.

On-ground inspections will continue alongside the new technology to ensure compliance with parking rules.

At Dubai Mall, parking systems are already integrated with Salik Company technology, including ticketless entry, number plate recognition, and automatic fee collection.

Stricter parking rules

For shoppers and mall visitors, the change means stricter enforcement of PoD parking rules to ensure these spaces remain available for those who genuinely need them.

It also signals a wider shift towards smart city solutions in Dubai, where AI is increasingly used to improve everyday services, from traffic flow to parking management, while enhancing accessibility and fairness.

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New toll gates in Abu Dhabi: Routes, costs and details

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Motorists in Abu Dhabi will see changes to their daily commute, as two new toll gates were activated today.

The move, announced by the Integrated Transport Centre, is part of ongoing efforts to reduce congestion and improve traffic flow across key routes in the emirate.

The new toll points will be located on Sheikh Maktoum bin Rashid Road in Ghantoot and on Karama Oasis Road at the entry and exit of Sheikh Zayed Road, areas identified through traffic studies as high-density corridors.

Dh4 per crossing

Drivers passing through these gates will be charged Dh4 per crossing, in line with existing toll rules. The system will operate 24/7, with current exemptions continuing for eligible groups, including senior citizens, People of Determination, low-income residents, and retired Emiratis.

To help motorists plan their journeys, authorities have also highlighted alternative routes. Drivers can divert via Sheikh Rashid bin Saeed Road or Al Khaleej Al Arabi Street, while those travelling through Ghantoot can use Sheikh Mohammed bin Rashid Road.

What it means for drivers

For residents and expats, the new toll gates may mean slightly higher commuting costs, but they are designed to improve travel times and reduce bottlenecks, especially during peak hours.

Officials say the rollout reflects Abu Dhabi’s broader strategy to support urban growth and manage increasing traffic volumes, with the impact of the new gates set to be reviewed regularly.

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