DUBAI: Mohammad Alblooshi, Chief Executive Officer of the Innovation Hub affiliated with the Dubai International Financial Centre (DIFC), said that the Hub hosts around 900 specialised financial technology companies, contributing significantly to the ongoing momentum of both the financial and technological sectors.
Speaking to the Emirates News Agency (WAM) on the sidelines of the Dubai FinTech Summit, Alblooshi emphasised that the financial technology sector continues to grow, supported by increased investments and innovation, underscoring DIFC’s role in fuelling this growth by attracting companies operating in this domain.
Alblooshi also highlighted the pivotal role of cutting-edge technologies like artificial intelligence in driving financial sector growth, noting that the summit’s sessions highlight how these technologies serve as pillars for sector expansion and innovation.
The CEO outlined that the summit’s agenda is geared towards exploring sectoral advancements and delving into various specialised
areas like digital payments, open banking, and digital assets. He also pointed out the pivotal role of venture capital in fostering innovation within the financial technology sector. Most companies in this sector, he noted, are startups, playing a crucial role in providing support, reducing costs, and enlightening others about venture capital to bolster the expansion of businesses.
Source: Emirates News Agency
