The Dubai Worldwide Monetary Centre and considered one of China’s first FinTech innovation platforms signed an settlement to permit FinTech firms in each jurisdictions to learn from new alternatives and entry to respective markets.
Beneath the pact, the DIFC and Jiaozi Fintech Dreamworks, which is in Chengdu, plan to collaborate in sectors resembling blockchain, synthetic intelligence, massive information and cloud computing, Arif Amiri, chief govt of the DIFC Authority, stated on Saturday.
The 2 entities will work collectively on joint occasions, data sharing and coaching programmes.
“In the same way that [the] DIFC is the gateway to the Middle East, Africa and South Asia, Chengdu can become the equivalent for [gaining] access [to] China and [the] broader Asia region,” he stated.
“Sharing expertise and enabling our FinTech [companies] to work together presents opportunities and builds a collective force for accelerating the FinTech agenda in Dubai and China.”
The addition of 87 new firms within the first half resulted within the variety of licensed FinTech firms within the DIFC rising by 74 per cent throughout the interval.
The onshore monetary centre is dwelling to a number of the world’s greatest monetary establishments, banks, funding firms, wealth managers and insurers.
The monetary free zone is the regional base for China’s 4 largest banks: ICBC, China Development Bank, Bank of China and the Agricultural Bank of China.
Additionally it is dwelling to a number of giant Chinese language companies and FinTech firms which are tapping into regional markets and dealing with native establishments on Beijing’s Belt and Street initiative.
“We are confident that our agreement will benefit the Jiaozi Fintech Dreamworks community by helping them tap into new opportunities,” Wang Juan, chairperson of the FinTech platform, stated.
“[It] will also enable talented individuals from both cities to participate in cross-border workshops and training programmes.”
The variety of firms that function inside the DIFC grew by 25 per cent within the first half and the free zone intends to triple its measurement by 2024. The DIFC attracted 310 new firms throughout the interval, bringing the variety of firms to 2,584, it stated on July 18.
Up to date: July 26, 2020 02:01 AM