Dubai: Dubai has been ranked among the world’s top four cities for FinTech in the latest Global Financial Centres Index (GFCI), released today.

This prestigious recognition highlights the success of Dubai International Financial Centre (DIFC) in consolidating the emirate’s status as the leading global financial centre in the Middle East, Africa and South Asia.

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said, “Dubai’s rise as one of the world’s pre-eminent FinTech hubs is a testament to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to not only place Dubai at the forefront of the world’s leading cities, but also to shape the future of diverse sectors. Our progress in the latest Global Financial Centres Index has been driven by the goal of the Dubai Economic Agenda D33 to make the city one of the world’s top four global financial hubs.

"This achievement also reflects the trust the international financial community has in Dubai’s ability to provide an optimal environment and infrastructure for growth, driven by DIFC’s transformative initiatives. With our clear aspirations for the future, we continue to strengthen Dubai’s role as a force for innovation and a platform for opportunity, advancing progress that will serve our nation, the region and the world."

Coinciding with today’s announcement, DIFC revealed that the number of AI, FinTech and innovation companies in the Centre and its Innovation Hub has now exceeded 1,500, making it the largest cluster of its kind in the region. Firms operating in these sectors have collectively raised over US$4.2 billion in investment, underlining DIFC’s role as the region’s most active ecosystem for growth-stage technology firms and entrepreneurs.

Further underlining its growing influence on the world stage, Dubai also advanced to 11th position globally in the overall GFCI rankings, reaffirming the trust of the global finance industry in the city. Additionally, the ranking demonstrates how DIFC initiatives are accelerating the goal of the Dubai Economic Agenda D33 to become a top four global financial centre.

Essa Kazim, Governor of DIFC, said, "Dubai’s vision, guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has always been to shape the future of finance. Today’s recognition in the Global Financial Centres Index reaffirms the emirate’s position as a global force in FinTech and the wider financial services sector. Through DIFC, we are enabling innovation, creating opportunities for growth, and ensuring Dubai continues to play a leading role in defining the future of the global economy."

Arif Amiri, Chief Executive Officer of DIFC Authority, commented, "Dubai has become one of the world’s four most influential FinTech hubs because of DIFC’s unwavering focus on innovation, talent, and technology. At DIFC, we are proud to be the platform that enables the most ambitious entrepreneurs, established institutions, and forward-thinking investors to collaborate and thrive. This achievement demonstrates the confidence the global financial community has in Dubai’s role as a catalyst for growth, and it motivates us to continue driving the future of finance from here in DIFC."

The Global Financial Centres Index also identifies Dubai as the region’s only financial centre to be a global leader with broad and deep capabilities. Additionally, the findings rank Dubai as number one in the world among financial centres expected to become more significant.