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UAE to boost global FinTech destination via Finovate Middle East partnership

UAE to boost global FinTech destination via Finovate Middle East partnership
The event will showcase the best international practices in FinTech

Dubai – Mubasher: The UAE’s Ministry of Finance (MoF) has unveiled a strategic partnership with the second edition of Finovate Middle East with the aim to foster the country’s position as a global FinTech destination. 

Occurring between 20 and 21 November in Dubai, the event will gather over 400 participants from top FinTech companies, financial service providers, and media leaders among other regional and global financiers. The event will also feature above 60 keynote speakers from different countries across the globe, showcasing investment opportunities in innovation and FinTech, according to a press release on Wednesday.

The ministry’s undersecretary, Younis Haji Al Khoori, has commended on the UAE's role in keeping pace with the digital revolution through advanced infrastructure; this will offer integrated and simplified digital banking services.

“The Ministry of Finance is keen to foster a culture of innovation by encouraging and launching initiatives, strategies and programs that support innovation. This is in line with our commitment to contribute to the goals of the National Strategy for Advanced Innovation and the UAE Vision 2021, and to implement the government's vision to progress the UAE towards an innovative knowledge-based economy,” Al Khoori added.

Moreover, the event aims to tap on the best international practices in FinTech, as well as the latest solutions in artificial intelligence (AI), robotics, and blockchain.

It further discusses several key themes focusing on the Middle East’s response in embracing digital transformation, in addition to ways for the regional banking sector to adapt with technological developments, the proposed solutions to the financing challenges, along with the importance of a legislative system that keeps pace with technological developments.