The UAE consolidates its leadership in "Financial technology" An integrated system that supports innovation and growth

Abu Dhabi, 4 May / WAM / The UAE continues to consolidate its position as a leading global center in the financial technology sector, benefiting from an integrated system that combines advanced digital infrastructure, flexible regulatory frameworks, and integration between government agencies and the private sector, which supports accelerating the entry of companies into the market and enhancing their growth, and pushing towards the development of more innovative and specialized financial services.

Officials of companies specializing in the financial technology (fintech) sector confirmed in statements to the Emirates News Agency (WAM) that the UAE is likely to be among the forefront of markets where individuals will feel the impact of the rapid transformations in the financial technology sector on their lives, thanks to an integrated innovative environment that encourages the development of new solutions.

Rashid Al Qubaisi, CEO of Mawarid Finance, said that the UAE plays a pivotal role in developing the financial technology sector with an integrated system that contributes to accelerating companies’ entry into the market and their growth.

Al Qubaisi explained that financial technology has actually had an impact on the nature of the services provided, citing the launch of specialized financing solutions in the market, such as financing housing rents through digital platforms, which allow the user to apply and obtain approval within less than 24 hours, which was not previously available, in addition to the possibility of investing in small amounts through specialized digital platforms.

He stressed that financial technology will appear to the user in everything that touches his daily needs, as services will become more specialized and faster.

For his part, Francisco Fernandez, Head of Partnerships at Fuze Finance, said that the UAE has established its position as a prominent global center in the financial technology sector, as it was one of the first countries to take the initiative to establish clear regulatory frameworks that support the growth of this sector.

He expected that the relationship between individuals and the banking sector will witness fundamental transformations during the coming period, driven by the development of new technologies, most notably stable currencies, which will change the way of interacting with money, in addition to “open banking” initiatives that will allow customers to make smarter financial decisions.

He stressed that the UAE is likely to be at the forefront of countries where individuals will feel the impact of these transformations more quickly, thanks to the innovative environment that encourages the development of new solutions.

For her part, Amira Suleiman, co-founder and CEO of Time Guardian, said that the UAE is considered one of the best environments in the world for establishing and developing financial technology companies, stressing that the advanced regulatory and legislative structure the country provides makes it a “Silicon Valley” for the fintech sector at the regional level and even at the global level.

She explained that the incubator environment in the Emirates is characterized by the integration of its elements, starting with the advanced regulatory frameworks provided by the competent authorities, passing through the global financial centers, all the way to the pivotal role played by the Central Bank in supporting and developing the financial system.

She added that banks in the Emirates have become more open to cooperating with financial technology companies, especially when the ideas presented are well thought out and led by founders who possess knowledge and experience.

She stressed that the UAE is witnessing an increasing demand from entrepreneurs and investors from various parts, noting that many international companies are heading to the country to launch their projects, driven by the availability of financing, institutional support and the attractive investment environment.

Suleiman stressed that what distinguishes the UAE market is its ability to attract new ideas and transform them into implementable projects.

For his part, Aoun Al-Sammadi, CEO of Shura Group, which specializes in insurance, stressed that the UAE is a leading global center in the field of financial technology, supported by a strong digital infrastructure and advanced forward-looking legislation, indicating that the insurance technology sector works within this integrated system and benefits directly from its maturity.

He explained that technology has made insurance distribution more automated, data-driven, and easier to access.

He explained that the country’s strong regulatory focus on data protection contributed to reducing manual processes, which allowed insurance technology companies to expand responsibly and contribute to supporting broader financial modernization efforts in the country.

In turn, Thamer Al-Falaj, CEO of Slash Data, stressed that the UAE has established its position as one of the most advanced financial technology markets in the world, driven not only by innovation, but also by the national digital infrastructure that enables this innovation on a large scale.

He pointed out that what distinguishes the country is the close cooperation between government agencies, regulatory bodies and the private sector.

He explained that financial technology depends on reliable data exchange, secure integrations, instant verification, and regulatory trust, which are areas in which the UAE has made significant progress through interconnected digital systems.

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