Ireland-UAE fintech collaboration to boost UAE's financial services transformation

Ireland-UAE fintech collaboration to boost UAE's financial services transformation

Leading Irish Fintech companies will be in Dubai to take part in the Irish Fintech Innovation Showcase event organised by Enterprise Ireland, the Irish Government’s trade and innovation agency in collaboration with the Commercial Bank of Dubai (CBD) and Dubai International Financial Centre (DIFC).

With a line-up of senior speakers from the UAE’s financial sector including Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, F. Christopher Calabia, CEO of Dubai Financial Services Authority, Salmaan Jaffery, Chief Business Development Officer at DIFC, the event will also include keynote addresses by Irish Minister Darragh O’Brien T.D., Minister of Housing, Local Government and Heritage and Ireland’s Ambassador to the UAE, Aidan Cronin.

Minister Darragh O’Brien T.D. is visiting the UAE as part of a series of 60 global trade events organised by Enterprise Ireland to coincide with St. Patrick’s Day to boost business collaboration with international partners. The global events series will mark the positive impact that Irish businesses are delivering across the world. As well as delivering innovative solutions to meet global challenges, Irish companies are employing almost 1.2 million people internationally.

Linked to this, Enterprise Ireland has also launched a new international campaign ’Ireland: Innovation at the Edge’ which highlights the unique conditions at play in Ireland which have led Irish companies to be among the most innovative in the world and for the Irish exporting economy to perform strongly throughout the pandemic.

Launching Enterprise Ireland’s series of global events and international campaign, Tánaiste (Deputy Prime Minister) and Minister for Enterprise, Trade and Employment, Leo Varadkar, said,

"As global economies emerge from the pandemic, putting two tough, disruptive years behind us, it presents an opportunity to reconnect and rebuild valued relationships with our business partners.

"I’m honoured to launch Enterprise Ireland’s international campaign 'Ireland: Innovation at the Edge'. This campaign is also about what Ireland offers as a country to our entrepreneurs. We are a small, open economy, a country on the edge of the Atlantic and at the heart of the European Union, a bridge between Europe and the US, where the giants of tech meet the world’s most creative minds, where cutting edge research and industry work hand in hand."

Welcoming the Irish Fintech Innovation Showcase in Dubai, Irish Minister Darragh O’Brien T.D said,

"I am delighted to be here in Dubai to showcase Ireland’s extensive capabilities in Fintech. With our collaborative approach, Irish companies are partnering with leading financial institutions across the world to deliver their financial services technology transformation. The UAE is a key priority for the Irish fintech sector who have the extensive expertise and innovative products to help meet the increasing demand for world leading solutions that we see in the country."

Having identified fintech development as a national priority, the UAE is among the countries that are leading the way in embracing the technology innovation that is transforming financial services into the future.

To deliver this national priority, collaboration will be key to achieving the ambitions for the UAE and is demonstrated through the today’s event, the Irish Fintech Innovation Showcase, which brings together a range of partners in this shared agenda.

Dr. Bernd van Linder, CEO of Commercial Bank of Dubai said,

"We are delighted to host and support Enterprise Ireland at the CBD Digital Lab. This initiative aligns well with our commitment to back our customers’ ambitions and helps support the growing FinTech ecosystem in the UAE."

With the Enterprise Ireland team on the ground in the UAE and wider region, Fintech has been earmarked as a priority opportunity for major growth. Stephen Twomey, Senior Market Advisor for Fintech at Enterprise Ireland MENA said, "The FinTech scene in the UAE and right across the Middle East is both vibrant and thriving with plenty of opportunities for Irish companies to bring their world leading solutions to support the regions financial sector."

News Source: Emirates News Agency

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