DUBAI, 25th July, 2020 (WAM) — Dubai Worldwide Monetary Centre, DIFC, has signed a Memorandum of Understanding, MoU, with Jiaozi Fintech Dreamworks, one in all China’s first Fintech innovation and entrepreneurship platforms.
The MoU will allow the centre to additional help the UAE in facilitating the ‘Belt and Road’ financial initiative and types a central a part of the Centre’s 2024 technique to strengthen relationships with the worldwide monetary group and improve entry to the South-South hall, DIFC stated in a press release on Saturday.
The settlement signed by Arif Amiri, CEO of DIFC Authority, and Wang Juan, Chairperson of Jiaozi Fintech Dreamworks, will allow FinTech companies based mostly in each jurisdictions to profit from a wealth of mutually useful alternatives, in addition to entry to respective markets.
Jiaozi Fintech Dreamworks is predicated in Chengdu, capital of Sichuan Province and one in all China’s rising worldwide monetary centres. Chengdu has an essential fame on this planet of finance having reportedly been the primary place on this planet to introduce paper bank notes. They now share a imaginative and prescient with DIFC to drive the way forward for finance by creating the following technology of instruments to be used within the trade.
With Dubai recognised as one of many world’s high ten FinTech hubs and residential to the area’s first and most complete FinTech ecosystem, DIFC is effectively positioned to make substantial progress on its goal to form the way forward for finance. Lately this has manifested within the Centre attracting greater than 200 FinTech associated firms.
Commenting on the MoU, Amiri stated, “Chengdu continues to emerge as a number one monetary centre in western China and there are huge alternatives for world FinTech companies to scale in China. In the identical approach that DIFC is the gateway to the Center East, African and South Asia, Chengdu can turn out to be the equal for accessing China and broader Asia area. Sharing experience and enabling our FinTech companies to work collectively presents alternatives and builds a collective drive for accelerating the FinTech agenda in Dubai and China.
“DIFC is especially wanting ahead to collaborating with Jiaozi Fintech Dreamworks on key sectors resembling Blockchain, Synthetic Intelligence, Massive Knowledge and Cloud Computing,” he added.
Juan, in flip, commented, “Dubai and DIFC specifically, continues to be the jurisdiction of alternative for Chinese language companies trying to entry the potential of the fast-growing rising markets within the MEASA area. With a sturdy Chinese language ecosystem together with the regional headquarters of China’s 4 largest banks, we’re assured that our settlement shall be profit the Jiaozi Fintech Dreamworks group by serving to them faucet into new alternatives. Our settlement can even allow gifted people from each cities to take part in cross-border workshops and coaching programmes.”
DIFC continues to see progress within the variety of Chinese language companies working from the centre. Additionally it is house to a number of giant Chinese language firms and FinTech companies which can be tapping into MEASA markets and dealing with native establishments on the Belt and Street initiative.