Fintech in the Middle East
Investments, collaborations and benefits
18 July 2019
On Tuesday 1 May 2018, Clifford Chance in partnership with Dubai International Finance Centre (DIFC) hosted "Fintech in the Middle East: Investments, Collaborations and Benefits" which presented on the core issues around FinTech investments and collaborations as well as the supportive legislative and regulatory environment in the DIFC.
Jack Hardman, Senior Associate at Clifford Chance presented on issues and considerations around investing in FinTech, the DIFC as a FinTech centre and hub for the region, and the supportive role of the DFSA (Dubai Financial Services Authority). The session included a case study on live issues for participants to consider.
We were also joined by a stellar panel of leading regional FinTech industry experts; Sushil Saluja, Senior Managing Director of Financial Services in Europe, Africa, Middle East and Latin America from Accenture, Neeraj Makin, Head of Strategy from Emirates NBD, Omar Soudodi, CEO from PayFort/Amazon and Todd O'Brien, Managing Director from Startup Bootcamp.
The panel was moderated by Mohammed Al-Shukairy, Partner from Clifford Chance, who commented "the lively discussion identified the core issues at the heart of investment in this sector, the enthusiasm for future collaborations and investment and the supportive environment within the DIFC".
Raja Al Mazrouei, Executive Vice President – FinTech Hive at DIFC, said: “We are delighted to partner with Clifford Chance and host this engaging event on FinTech in the Middle East. The FinTech sector is continuing to expand and evolve and there is a great opportunity for investment. This growth reflects the rising demand within the financial services for new digital innovations. As the top FinTech hub in the region, Dubai International Financial Centre is proud to provide an ecosystem for startups and entrepreneurs with disruptive solution to shape the future of financial services landscape.”
The event was well attended by Clifford Chance and DIFC clients and partners, providing an excellent opportunity for lively and insightful debate.
The event follows the well-received publication of Clifford Chance's FinTech report in 2017, which details the regulation of FinTech across the Middle East, including the UAE, Bahrain, Kuwait, Egypt, Jordan, Lebanon, Oman and Saudi Arabia.