Dubai – Mubasher: Dubai International Financial Centre (DIFC) on Sunday announced signing a memorandum of understanding (MoU) with Finance Innovation, France’s official innovation cluster for the financial industry.
The deal aims at developing financial technology (fintech) ecosystem in the UAE and French markets, in addition to facilitating knowledge exchange and experiences between their regulatory and financial communities, the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region said in a statement.
The MoU was inked by Arif Amiri, CEO of DIFC Authority, and Joelle Durieux, CEO of Finance Innovation, on the sidelines of Fin&Tech Community Conference, which took place on 27 June in Paris.
“We will be exploring potential collaboration relating to our FinTech funds and strengthen efforts to support the growth of the regional FinTech and venture capital ecosystem. We look forward to working closely with Finance Innovation and attracting French start-ups to our community,” Arif commented.
Dubai is one of the fastest growing FinTech markets worldwide, Durieux said, highlighting that DIFC has laid the ground for small and medium-sized enterprises (SMEs) to upgrade and test their products within an internationally-recognised regulatory framework and a robust financial ecosystem.
“This will ultimately allow French start-ups to expand their presence into the MEASA region and explore further prospects for growth,” he noted.
