Dubai: Dubai has risen to become the world’s number one location for FinTech as ranked by industry professionals in the latest Global Financial Centres Index (GFCI). A testament to its resilience, the emirate retains its position as the only financial centre in the Middle East, Africa and South Asia region within the global top ten.
In addition to its FinTech leadership driven by Dubai International Financial Centre’s vision to drive the future of finance, Dubai climbed to second place globally for Professional Services. Reflecting the continued trust and confidence in the emirate and DIFC, Dubai’s global reputation ranking advanced to sixth. Dubai also maintained the number one spot for future potential, a category in which the emirate has now led for four consecutive GFCI reports.
The latest GFCI report, compiled by the London-based consultancy Z/Yen in collaboration with the China Development Institute, collected 39,531 assessments from industry professionals worldwide who responded to the GFCI online questionnaire. The index combines these assessments with 143 instrumental factors.
Essa Kazim, Governor of DIFC, said: "The GFCI results reinforce Dubai's position as a world leading financial centres and underscore the success of the vision set by our leadership through the Dubai Economic Agenda D33. DIFC has played a pivotal role in advancing Dubai's global competitiveness by attracting leading financial institutions, talent and innovation from around the world, while providing the regulatory, legal and business environment required for sustainable growth. As Dubai strengthens its position at the heart of the global financial system, DIFC will continue to support the emirate's ambitions and reinforce its standing among the world's most influential financial centres."
Arif Amiri, Chief Executive Officer of DIFC Authority, said: "Dubai's position in the GFCI is underpinned by the strength and scale of DIFC, and validated by the assessments of financial services professionals worldwide. As the largest ecosystem of regulated financial firms in the Middle East, Africa and South Asia region, and the only financial centre in the region operating at scale across banking, capital markets, wealth and asset management, insurance and FinTech, DIFC provides a unique platform for innovation, growth and collaboration. This depth and diversity enable us to continue developing the financial services industry, accelerating the adoption of emerging technologies and helping shape the future of the global financial landscape."