Dubai-China FinTech agreement brings new opportunities for Dubai International Financial Centre

  • Date: 26-Jul-2020
  • Source: Emirates 24/7
  • Sector:Technology
  • Country:UAE
  • Who else needs to know?

Dubai-China FinTech agreement brings new opportunities for Dubai International Financial Centre

The Dubai International Financial Centre has signed a Memorandum of Understanding, MoU, with Jiaozi Fintech Dreamworks, one of China's first Fintech innovation and entrepreneurship platforms.

The MoU will enable the centre to further support the UAE in facilitating the 'Belt and Road' economic initiative and forms a central part of the Centre's 2024 strategy to strengthen relationships with the international financial community and increase access to the South-South corridor, DIFC said in a statement on Saturday.

The agreement signed by Arif Amiri, CEO of DIFC Authority, and Wang Juan, Chairperson of Jiaozi Fintech Dreamworks, will enable FinTech firms based in both jurisdictions to benefit from a wealth of mutually beneficial opportunities, as well as access to respective markets.

Jiaozi Fintech Dreamworks is based in Chengdu, capital of Sichuan Province and one of China's emerging international financial centres. Chengdu has an important reputation in the world of finance having reportedly been the first place in the world to introduce paper bank notes. They now share a vision with DIFC to drive the future of finance by developing the next generation of tools for use in the industry.

With Dubai recognised as one of the world's top ten FinTech hubs and home to the region's first