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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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As a reader of www.headline.ae, grab an exclusive 10% discount on tickets purchase.

Use the code DFS23HL

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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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Invite friends to Dubai and you could get over Dh3,000 in free rewards

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Thinking of convincing your family or friends to visit Dubai?

Now you have an extra incentive.

The Dubai Department of Economy and Tourism (DET) has launched A Dubai Invite, a new programme that rewards UAE residents and citizens for inviting loved ones from overseas to visit the emirate.

If your guests arrive in Dubai between July 20 and October 31, you could unlock more than Dh3,000 worth of rewards, including hotel stays, dining vouchers, attraction tickets and exclusive lifestyle offers.

How to claim the rewards

Getting started is simple.

Before your guest travels, register their details through the A Dubai Invite online nomination form.

Once they arrive in Dubai, their entry is verified automatically, so there’s no extra paperwork or check-in required.

Within 72 hours, you’ll receive an email with details of your reward package and instructions on how to redeem it.

Who’s eligible?

You can take part if you:

  • Are a UAE resident or citizen aged 18 or above
  • Have a valid Emirates ID
  • Invite friends or family who live outside the UAE
  • Register their visit before they arrive

Visitors must enter Dubai between July 20 and October 31, whether by air, land or sea.

The programme doesn’t include visas, so visitors must arrange their own travel documents if required.

What’s included?

Each successful nomination unlocks a reward package worth more than Dh3,000.

Offers cover:

  • Hotel stays
  • Restaurants
  • Tourist attractions
  • Lifestyle experiences

Participating brands include Careem, Hala, W Dubai Mina Seyahi, The Westin Dubai Mina Seyahi, Le Méridien Mina Seyahi Beach Resort & Waterpark, Meliá Desert Palm, and IHG Hotels & Resorts.

A few rules to remember

There are a few conditions before you start sending invites:

  • You can nominate up to five visitors per submission.
  • Each resident can receive up to three reward packages during the campaign.
  • Each visitor can only be nominated once. If someone has already registered them, another nomination won’t qualify.

The rewards will be available until December 31, 2026, unless stated otherwise.

If you’ve been waiting for the perfect excuse to bring friends and family to Dubai, this could be it, and you’ll be rewarded for it too.

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India

Indian missions in UAE to continue passport services amid tender dispute

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The Supreme Court of India has upheld the Delhi High Court’s decision to cancel the Ministry of External Affairs’ (MEA) tender process for outsourcing passport, visa and consular services at Indian missions in Abu Dhabi, Kuwait, Singapore and Canberra.

A Bench led by Chief Justice of India Surya Kant dismissed the Centre’s appeal, directing the MEA to comply with the High Court’s ruling and complete a fresh tender process within three months.

To ensure there is no disruption to services, the Supreme Court allowed the MEA to continue with the existing service providers or temporarily engage the lowest (L-1) bidders whose contracts had previously been set aside. The ministry may also make any other suitable interim arrangements until the new tender process is completed.

The court clarified that these temporary measures will not create any legal rights for any party and will remain in place only until fresh contracts are awarded.

According to legal reports, the Bench, which also included Justice Joymalya Bagchi and Justice V. Mohana, heard arguments from Solicitor General Tushar Mehta on behalf of the Union Government, along with senior advocates representing the private companies involved in the case.

The ruling means the MEA must restart the tender process while following the directions issued by the Delhi High Court.

Meanwhile, due to the ongoing legal proceedings, Indian diplomatic missions in Abu Dhabi and Dubai have been providing passport and consular services directly from their premises, ensuring that services for the Indian community in the UAE continue without interruption.

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Education

Need a school fee certificate? Abu Dhabi families can now get it online in minutes

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Parents and students in Abu Dhabi can now obtain an officially attested private school fee certificate in just six minutes through the TAMM government services platform, making the process quicker and more convenient than ever.

The fully digital service allows users to request and receive a certified tuition fee certificate without uploading any supporting documents. This certificate is commonly required for government procedures, financial aid requests, scholarship applications, and other official purposes.

Applying is simple and can be completed entirely online. Users need to sign in using their UAE PASS account, submit the application, pay the Dh15 service fee electronically, and download the certified digital certificate once it is issued.

By moving the entire process online, TAMM helps families save time while providing fast access to an important document whenever it’s needed for official or financial requirements.

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