MENA’s leading lender, Emirates NBD and the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, have signed a Letter of Intent, which will aim to drive the future of finance, innovation, talent and entrepreneurial growth in the region, thus contributing to Dubai’s GDP growth ambitions.
The Letter of Intent was signed at the Dubai FinTech Summit 2023, by Arif Amiri CEO of DIFC Authority and Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, in the presence of EXCO members and senior leadership from Emirates NBD, along with key partners.
When in effect, the agreement will aim at bringing together Emirates NBD, one of the region’s largest banks and leader in digital banking innovation, with DIFC, the leading global financial centre in MEASA, which is home to the largest cluster of FinTech and innovation hubs.
The joint initiative plans to foster national talent, boost innovation and entrepreneurial growth and build Emirates NBD’s overall global reputation in the areas of FinTech and ESG, with the end goal of boosting the nation’s global standing as a key global investment hub.
Through this collaboration, the DIFC aims to support Emirates NBD’s priorities through various ongoing initiatives including the DIFC FinTech Launchpad, DIFC Virtual Hub and DIFC Events agenda – each providing a platform for the bank to further explore and grow FinTech and ESG innovations and partnerships.
Confidence-driven Innovation
Abdulla Qassem, Group Chief Operating Officer, Emirates NBD said: “As a leading local bank, Emirates NBD is committed to financing the real economy of the UAE and contributing to the long-term economic growth and development of the region.
Emirates NBD has had a long-standing relationship with the DIFC and it is our joint endeavor to take Dubai to new heights transforming it into a global economic superhub.”
He added, “Supported by the DIFC, we are confident that we will continue to boost innovation and drive stronger partnerships to provide more ecosystem-driven solutions to customers.”
Also commenting on the announcement, Arif Amiri CEO of DIFC Authority said: “DIFC is committed to supporting Dubai Economic Agenda D33 to transform the city into one of the top three global business hubs. Collaborating with Emirates NBD, we believe in the power of collective effort to drive transformative change in the future of financial services.”
“As a leading global financial centre in the region, a significant contributor to Dubai’s GDP and a key employment creator, we are dedicated to providing resources and platforms for Emirates NBD to thrive. Together, we will shape the future of finance and build a stronger, more resilient economy for the region and the world,” he said.