From Krishnan Nayar
NEW DELHI, 24th June, 2020 (WAM) — Aiming to companion FinTech firms in India and Dubai in coping with the altering panorama of funds and remittances, the Dubai Chamber of Commerce and Business at present hosted a webinar which was attended by monetary companies firms and members of the startup ecosystem in each locations.
Explaining the rationale behind at present’s webinar, Salman Jaffery, Chief Enterprise Improvement Officer of the Dubai Worldwide Monetary Centre, DIFC, mentioned Indian companies had been among the many first to determine a presence on the DIFC.
“India stays an important marketplace for the DIFC,” he added. The DIFC partnered within the webinar together with Dubai Startup Hub, the entrepreneurship arm of the Dubai Chamber.
Sameer M Nawani, Chief Consultant in India of the Dubai Chamber, mentioned in his introductory remarks that international remittances represent a US$ 600 billion enterprise, by which India is the biggest recipient of remittances.
The UAE contributes 27 per cent of complete remittances to India. General, the Center East accounts for over 50 per cent of remittances to India.
Nawani mentioned “the altering panorama of funds and remittances led by FinTech firms opens up new alternatives.”
Among the many panelists had been Jon Santilan, Founder at Denarii Money, a Dubai-based platform that gives quick, low-cost worldwide funds and helps abroad staff to ship cash residence. The corporate received the primary prize on the Dubai Smartpreneur 2019 from amongst greater than 1,000 competing companies.
Different contributors had been Vishal Anand Kanvaty, Chief of Market Innovation on the Nationwide Funds Company of India, the umbrella organisation for all retail funds in India and Saurabh Jain, Vice President of Paytm, an Indian e-commerce cost system and monetary expertise firm.