Latest news with #DubaiFinTechSummit
Mid East Info
20-05-2025
- Business
- Mid East Info
DIFC and IPEM join forces to advance the global private markets ecosystem in Dubai - Middle East Business News and Information
Dubai, UAE;May 2025: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, continues to solidify its role as a global hub for long-term capital deployment by signing an agreement at the Dubai FinTech Summit with the International Private Equity Market (IPEM), the premier relationship broker for private equity. IPEM events are the definitive meeting place for decision-makers, innovators, and investors shaping the future of private markets. Dubai will complement the current bi-annual IPEM gatherings held in France. IPEM Future will strive to create an immersive experience that allows attendees to gain insights, develop relationships, and engage with the wider private equity community. The IPEM partnership reinforces DIFC's position as a world-class ecosystem and platform for private equity markets. Ranked number one in the region in the latest edition of the Global Financial Centre Index (GFCI) rankings, Dubai is categorised by the GFCI as only one of eight cities in the world to be a global leader with 'broad and deep' capabilities across all parts of the finance industry, alongside cities including London, New York and Paris. Arif Amiri, Chief Executive Officer, DIFC Authority, commented: 'The current global economic environment has amplified investor appetite for private capital, often viewed as resilient, long-term, and less susceptible to short-term market risks. The partnership with IPEM spotlights Dubai and DIFC as a global destination for long-term capital deployment and aligns with our vision to drive the future of finance and position Dubai among the world's leading global financial centres in the world.' Antoine Colson, CEO, IPEM, said: 'Dubai is a global hub for creative and transformative capital — a natural home for 'IPEM Future'. This new event brings together the boldest LPs and GPs backing breakthroughs in AI, climate tech, longevity, space, and more. It is where private capital does not just perform – it transforms.' Ahead of its Dubai event in December, IPEM brought representatives from the global private capital industry to Dubai FinTech Summit for an introductory visit and participation in an especially curated event. Investors and companies that support the private markets ecosystem discussed using private markets to create long-term value; the role of innovation and technology; the changing investor landscape; and the growing importance of the Middle East. About IPEM – International Private Equity Market: IPEM serves to connect global private capital industry leaders, investors, advisors, and service providers. Our international events are held annually in Paris – IPEM Global, the premier summit for global private capital leaders with 6,000+ participants from around the world; in Cannes – IPEM Wealth, focused on the wealth revolution and welcoming nearly 4,000 participants; and, starting in 2025, in Dubai with the launch of IPEM Future — exclusive access to UAE investment leaders shaping tomorrow's capital landscape. Additionally, IPEM hosts regional events in partnership with local stakeholders in Chicago, Abu Dhabi, and China, while actively exploring opportunities in Latin America, Japan, and more — a reflection of the industry's exciting global expansion and democratization. About Dubai International Financial Centre: Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.
Hi Dubai
20-05-2025
- Business
- Hi Dubai
DIFC Strengthens Global Private Equity Presence with IPEM Partnership
Dubai International Financial Centre (DIFC) has partnered with the International Private Equity Market (IPEM) to host a new flagship event in the emirate, marking a major step in positioning Dubai as a global hub for private capital investment. The agreement, signed during the Dubai FinTech Summit, will see Dubai added to IPEM's roster of global events, complementing its established gatherings in France. The new platform, IPEM Future, is set to debut in December and will bring together top-tier investors, fund managers, and innovators focused on transformative sectors such as AI, climate tech, and space. This move reinforces DIFC's standing as a leading global financial centre. Ranked first in the region and among the top eight globally by the Global Financial Centres Index, DIFC offers a deep and diversified ecosystem that continues to attract long-term capital flows. 'The current global economic environment has amplified investor appetite for private capital,' said Arif Amiri, CEO of DIFC Authority. 'Our partnership with IPEM enhances Dubai's appeal as a destination for resilient and transformative capital deployment.' IPEM CEO Antoine Colson described Dubai as 'a natural home' for the new initiative, citing its role as a magnet for innovation-led investment. The December event will serve as a key gathering for institutional players shaping the future of private markets. Ahead of the launch, IPEM brought a delegation of global private capital leaders to the Dubai FinTech Summit for a curated preview event. Discussions focused on long-term value creation, the evolving investor landscape, and the strategic role of the Middle East in global finance. The new partnership is set to further elevate Dubai's position at the intersection of innovation, investment, and global financial leadership. News Source: Emirates News Agency
Khaleej Times
20-05-2025
- Business
- Khaleej Times
DFSA's tokenisation regulatory sandbox attracts investor interest
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), has announced that 96 innovative firms have expressed interest in the DFSA's inaugural Tokenisation Regulatory Sandbox. The launch of the sandbox marks a major step forward in the DFSA's strategy to support responsible financial innovation within the DIFC and reflects its growing focus on tokenisation as a transformative force in financial services. The Tokenisation Regulatory Sandbox forms part of the DFSA's Innovation Testing Licence programme and supports the regulator's broader commitment to fostering innovation while maintaining market integrity and protecting investors. Expressions of interest came from a diverse range of sectors that are exploring the tokenisation of financial assets and instruments, including those associated with the tokenisation of shares, bonds (including Islamic bonds (sukuk)), units in a fund, and the trading and safe custody of those assets – reflecting the broad potential of tokenisation across the financial ecosystem. The initiative attracted strong interest from both established financial institutions wishing to explore tokenisation use cases and innovative start-ups looking to scale breakthrough digital asset solutions in a regulated environment. This strong engagement underscores DIFC's growing appeal as a global hub for digital finance and innovation. Justin Baldacchino, Managing Director, Supervision, DFSA, said: 'We are excited to see such strong interest in the DFSA's Tokenisation Regulatory Sandbox and to talk about it at the Dubai FinTech Summit. This momentum supports the DFSA's strategic commitment – and aligns with the Dubai Economic Agenda D33 goal – to position Dubai among the world's top four global financial hubs by 2033. The sandbox marks a new chapter in our engagement with innovative financial technologies, enabling firms to safely test tokenised solutions in a transparent, measured, and responsible manner, within a well-regulated environment, without being subject to the full suite of regulatory requirements that would otherwise apply.' The DFSA's themed sandbox approach enables targeted supervision, constructive regulatory dialogue, and the development of tailored policy responses to emerging financial technologies while fostering responsible innovation in the market. It also supports DIFC, Dubai, and the United Arab Emirates' broader ambition to become a global hub for digital assets, fintech, and next-generation financial services and market infrastructure. Following the Expressions of Interest stage, selected firms will be invited to apply for an Innovation Testing Licence and enter a live testing phase under DFSA oversight, where they can refine their offerings while addressing critical areas such as investor protection, transparency, and financial stability. Upon successful completion of the programme, firms may apply to transition to a full, unrestricted licence, or withdraw their Innovation Testing Licence. For more information on the Innovation Testing Licence, access the explainer guide here. The DFSA's Tokenisation Regulatory Sandbox underscores the DFSA's commitment to enable innovation in a way that is responsible, informed, and aligned with global regulatory best practice.
Mid East Info
19-05-2025
- Business
- Mid East Info
Astra Tech and 7X Partner to Advance Digital Financial Services and Integrated Trade and Logistics Solutions
* Collaboration advances UAE digital transformation goals through unified finance, logistics, and identity solutions * Agreement leverages FINTX and WAYN to drive financial inclusion, cross-border remittances, and last-mile delivery integration Dubai, UAE – 16th May 2025: Astra Tech, the leading consumer technology holding group behind Botim, has announced a strategic partnership with 7X, the investment holding group in trade, transport, and logistics. The agreement, formalized during the Dubai FinTech Summit (DFS), sets the stage for an integrated digital ecosystem that combines financial services, logistics, and last-mile delivery, advancing the UAE's vision for a connected, inclusive, and innovation-driven economy. The collaboration will enhance access to secure, compliant, and customer-centric services by embedding remittance capabilities, salary processing via both Wages Protection System (WPS) solutions through the innovative Botim Salary Card, and digital payment tools into everyday platforms. It also catalyzes future enhancements, including AI-powered address verification, last-mile delivery integration, and expanded payment acceptance points. Astra Tech's WPS solution, the Botim Salary Card, will be rolled out to FINTX's (the fintech arm of 7X) extensive customer base, marking a significant expansion in salary disbursement capabilities across businesses' clientele through a trusted and compliant delivery network. FINTX plays a central role in this collaboration, reinforcing its mandate as a trusted financial enabler and expanding the reach of UAE-born fintech capabilities across all user segments and geographies. In addition, the agreement also explores new avenues to expand Botim's international remittance services through FINTX's global financial network, connecting users to agent locations worldwide. By embedding this infrastructure into the Botim app, users will be able to send and receive cross-border remittances quickly and securely from within the platform they already use every day. This expansion positions Botim as a comprehensive financial services platform meeting the everyday needs of both domestic and international users. The collaboration also lays the groundwork for a broader range of fintech and logistics innovations. These include wallet top-ups and eKYC services at FINTX's Wall Street Exchange branches, enabling Botim Wallet payments at 7X retail locations, deploying point-of-sale systems to support SME digitization, and improving last-mile delivery logistics. Other areas under exploration include address verification powered by the WAYN platform, UAE's Digital P.O. Box, to support verified deliveries and secure digital identities. WAYN's integration will enable more secure, reliable communication and transactions across Botim's user base, contributing to the national digital infrastructure. It will also explore corporate payment integrations via WASLAH, the comprehensive logistics platform by 7X. Commenting on the signing, Ahmed Mourad, Chief Operating Officer of Astra Tech, said the partnership with 7X represents a major leap forward in Astra Tech's mission to redefine access to digital finance across the region. He noted that embedding financial tools into everyday digital experiences is not only about convenience but about building a sustainable infrastructure for long-term financial empowerment. Tariq Al Wahedi, Acting Group CEO of 7X, said: 'This partnership reflects our unwavering commitment to shaping a future where finance, logistics, and technology converge to serve people better. By joining forces with Astra Tech, we are advancing our shared commitment to supporting national priorities in digital transformation and empowering communities through accessible, integrated, and secure financial and last-mile services. This collaboration is a pivotal milestone in our roadmap to position 7X as a regional force in digital finance and smart trade infrastructure. We will be unlocking new opportunities to simplify how people move money, goods, and services, laying the foundation for a seamless, customer-centric ecosystem that is built for scale, inclusion, and innovation.' As part of 7X's broader digital strategy, FINTX and WAYN serve as critical enablers in this rollout. FINTX ensures that the financial integrations are robust, scalable, and regulatory-compliant, while WAYN strengthens last-mile authentication and secure identity verification for seamless delivery and communication. The partnership will be rolled out in phases, beginning with deployment of Botim Salary Cards to FINTX's WPS customer base, followed by remittance service integrations. Future phases will explore loyalty programs, logistics enhancements, and expanded financial and business services, making this one of the most comprehensive fintech collaborations in the region. This announcement reinforces Astra Tech and 7X's shared commitment to the UAE's national agenda for digital transformation and financial inclusion by making essential financial services accessible through a single, unified digital platform. -END- About Astra Tech Astra Tech is a UAE-based consumer technology investment and development group operating across the MENA region. Established in 2022, the company owns and operates a portfolio of leading digital platforms including Botim, PayBy, and Quantix. With a mission to redefine consumer technology through AI and innovation, Astra Tech developed the Botim Ultra app, the region's first platform to integrate communication, fintech, and services under one roof. PayBy, Astra Tech's fintech subsidiary, is licensed by the Central Bank of the UAE as a Stored Value Facility (SVF) and Retail Payment Services (RPS) provider. Serving over 150 million users in 155 countries, Astra Tech is setting new benchmarks for financial accessibility and consumer empowerment. In 2024, its fintech arm Quantix received the Finance Company License from the UAE Central Bank and secured a $500 million investment from Citi, the largest funding deal for a fintech in UAE history. About 7X 7X, a Public Joint Stock Company under the Emirates Investment Authority. 7X operates as a trade, transport, and logistics investment and holding group, headquartered in Dubai, overseeing and managing its diverse portfolio, including its logistics arm EMX, its fintech arm FINTX, its digital transformation business EDC, and postal services through Emirates Post. 7X supports the UAE's socio-economic development by integrating national goals across logistics, eCommerce, financial inclusion, and digitalization. It is the driving force enabling a world in motion from the 7 emirates to the 7 continents, and across the 7 seas.
Hi Dubai
19-05-2025
- Business
- Hi Dubai
Dubai Finance and DIFC Partner to Accelerate Cashless Transformation
Dubai Finance (DOF) and the Dubai International Financial Centre (DIFC) have signed a strategic agreement to drive forward the Dubai Cashless Strategy, marking a major step in the emirate's push towards a fully digital financial future. The Memorandum of Understanding (MoU), signed during the Dubai FinTech Summit in Madinat Jumeirah, focuses on three key pillars — Governance, Innovation, and Society. It aims to enhance collaboration on financial digitalisation, drawing on DIFC's position as the region's leading financial innovation hub. The signing was held in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee. The agreement was formalised by Abdulrahman Saleh Al Saleh, Director-General of DOF, and Essa Kazim, Governor of DIFC. Al Saleh highlighted the partnership as a crucial move in aligning with Dubai's vision to become a global financial centre. 'This agreement accelerates our shift to a fully integrated digital financial system,' he said. 'Through this collaboration, we aim to foster innovation in digital payments and build a secure, adaptable ecosystem.' Essa Kazim noted the MoU supports the broader vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to position Dubai as a digital economy leader. 'DIFC will continue to provide an enabling environment for fintech growth and sustainable innovation,' he said. As part of the initiative, workshops, innovation programmes, and AI-driven projects will be launched to support the transition to a cashless society. The agreement also leverages the DIFC Innovation Hub to boost adoption of digital payment solutions across various sectors, including tourism and public services. News source: Emirates News Agency
