DCDE speaks on challenges to fintech

Dubai Chamber of Digital Economy, one of the three chambers under Dubai Chambers, recently held a session on the fintech sector as part of its ongoing interactive workshop series. The session aimed to address the challenges and opportunities within the various sectors of the digital economy.

Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Omar Sultan Al Olama, who also serves as the Chairman of Dubai Chamber of Digital Economy, was present at the event. During the session, representatives from financial technology companies shared their insights on the current state of the fintech sector and discussed their visions for its future development.

The interactive workshop series is an important platform for supporting the fintech ecosystem in Dubai and promoting the growth of the digital economy. It allows participants to openly discuss challenges and gain valuable insights into the current trends affecting the fintech sector.

Al Olama emphasized that Dubai is a hub for entrepreneurship and a thriving startup and fintech ecosystem, and that the role of Dubai Chamber of Digital Economy is to continuously support its growth. He added that dialogue with all relevant entities is crucial for the development of the digital economy and its competitiveness.

According to a report by Dubai Chamber of Digital Economy, Dubai’s startups raised over $2 billion in funding by the end of October 2022, while fintechs in the UAE raised $430 million in the same period. The workshop addressed topics such as regulations, legislation, laws, funding, talent, and infrastructure, which are crucial to the growth of the fintech sector.

Dubai Chamber of Digital Economy is dedicated to involving stakeholders from various digital sectors and promoting an environment that supports the growth of the digital economy and the role of technology in society. The chamber looks forward to continuing the conversation with representatives from these sectors in the future to track the progress made from these discussions and initiatives.