DIFC and Asia House Unveil Key Trends Shaping Global Finance
Dubai International Financial Centre (DIFC), in collaboration with research partner Asia House, has released a groundbreaking report titled The Global Finance and Investment Outlook: Charting Technological Shifts and New Global Flows.
The report highlights transformative trends in the global financial services industry and examines emerging growth corridors, geoeconomic uncertainties, and the future of capital and talent flows.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, emphasized the rapid transformation of global finance, citing the eastward shift of economic power, the rise of new economic corridors, and the revolutionary impact of AI. He positioned Dubai and DIFC as key players in shaping the future of finance, strategically bridging economies between East and West.
Michael Lawrence OBE, Chief Executive of Asia House, underscored the significance of the research, stating that the Future of Finance series will explore structural and technological shifts affecting financial services. The report provides insights for global finance leaders navigating economic uncertainties and emerging opportunities. Investment and Economic Outlook
The report outlines how financial firms are seeking scalable growth opportunities backed by forward-thinking regulations, a strong legal framework, and innovation-driven talent. Dubai's status as a financial hub is reinforced by its access to USD 4 trillion in private and family wealth, positioning DIFC as a key player in converting regional wealth into investable capital.
Key financial trends include shifts in global monetary policy, the increasing role of Islamic and sustainable finance, and growing interest in private credit. The report also identifies AI and digitization as major forces reshaping financial services, predicting AI will contribute USD 15.7 trillion to the global economy by 2030. AI and Regulatory Innovation
While AI presents significant opportunities, inconsistent regulations remain a challenge. DIFC is leading efforts to address this with initiatives like the world's first Digital Assets Law and the recently launched Dubai AI Licence. These measures aim to position Dubai as a leader in AI-driven financial innovation.
Over the past two decades, DIFC has evolved into a global hub for finance, fintech, and AI-driven innovation. With Dubai's Universal Blueprint for AI, DIFC continues to drive technological integration and strengthen its role as the region's premier financial ecosystem.
News Source: Dubai Media Office
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
a day ago
- Arabian Post
Dubai Financial Centre Unveils Global Sustainability Initiative
Arabian Post Staff -Dubai The Dubai International Financial Centre has announced the launch of the Future Sustainability Forum, a global platform aimed at accelerating sustainable finance and innovation. Scheduled to take place on 4–5 December 2024 at Madinat Jumeirah, Dubai, the event seeks to foster collaboration among industry leaders, investors, policymakers, and technology innovators to address pressing environmental challenges. Arif Amiri, CEO of DIFC Authority, emphasised the forum's role in advancing climate action through collaborative efforts and innovative financial solutions. The initiative aligns with DIFC's broader commitment to sustainable economic growth and its leadership in the Dubai Sustainable Finance Working Group, established in 2019. ADVERTISEMENT The forum will explore eight core pillars, including sustainable banking and finance, renewable energy, sustainable infrastructure, and green technology. It aims to channel investment flows between the global north and south, supporting the UAE's Year of Sustainability and its objectives for COP28.
Fintech News ME
2 days ago
- Fintech News ME
Qatar Islamic Bank Partners with Visa to Boost Cross-Border B2B Payments
Qatar Islamic Bank (QIB) has partnered with Visa to enhance cross-border business-to-business (B2B) transactions. The collaboration involves the integration of the Visa B2B Connect platform, which will enable corporate clients to transfer funds from Qatar to 120 countries in a secure and streamlined manner. The platform is designed to support businesses in conducting international transactions more efficiently, aiming to improve the reliability and security of cross-border payments. QIB's adoption of Visa B2B Connect aligns with its broader strategy to strengthen international payment corridors and provide clients with cost-effective and consistent transfer services. Tarek Fawzi, General Manager, Wholesale Banking Group at QIB, said: 'By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB is the first Islamic bank in Qatar to adopt the Visa B2B Connect platform, adding to its existing international money transfer services and expanding its digital payment capabilities. Shashank Singh, Visa's Vice President and General Manager for Qatar and Kuwait, said: 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector.' International money transfers often involve complexities, but this new network aims to improve transparency and predictability. These features may support better financial planning and strategic decision-making for businesses operating across borders.
Arabian Post
3 days ago
- Arabian Post
Dubai Grants RLUSD Stablecoin Regulatory Approval, Expanding Ripple's Regional Reach
Ripple's US dollar-pegged stablecoin, RLUSD, has secured regulatory approval from the Dubai Financial Services Authority , authorising its use within the Dubai International Financial Centre . This development enables RLUSD to be integrated into Ripple's DFSA-licensed payments platform and utilised by other DFSA-registered entities operating in the DIFC. The approval positions RLUSD among a select group of stablecoins recognised under the DFSA's crypto token regime, which includes Circle's USDC and EURC. RLUSD is designed for enterprise use, offering features such as 1:1 USD backing with high-quality liquid assets, segregated reserves, third-party audits, and clear redemption rights. It is issued under a New York Department of Financial Services Trust Company Charter, subjecting it to stringent regulatory standards. Reece Merrick, Ripple's Managing Director for the Middle East and Africa, noted the growing interest from businesses in the UAE for cross-border payments and digital asset custody solutions. He emphasised the dynamic nature of the UAE's digital economy and expressed optimism about RLUSD's role in facilitating real-time, cost-effective international transactions. ADVERTISEMENT Ripple is collaborating with local partners, including digital bank Zand and fintech platform Mamo, who are expected to be early adopters of RLUSD. Additionally, RLUSD will support the Dubai Land Department's initiative to tokenize real estate title deeds on the XRP Ledger, aiming to digitize and record property ownership using blockchain technology. The DFSA's recognition of RLUSD follows Ripple's earlier approval to offer blockchain-powered payment solutions within the DIFC, obtained in March. This dual approval allows Ripple to integrate RLUSD into its global payment services in Dubai and the UAE, while also enabling other DFSA-licensed firms in the region to incorporate the stablecoin into their offerings. Jack McDonald, Ripple's Senior Vice President of Stablecoins, stated that the DFSA's approval validates RLUSD as a trusted and compliant stablecoin built for global business. He highlighted the stablecoin's potential to bring value across payments, decentralised finance , and real-world asset tokenization.
