The Dubai International Finance Center (DIFC) has signed a Memorandum of Understanding (MoU) with the Dubai Future Foundation (DFF).
The agreement between the leading global financial center in the MEASA region (Middle East, Africa and South Asia) and the DFF will focus on the innovation agenda of Dubai and to attract the financial technology community through scaling and training programs.
Both DIFC and DFF have a common priority of imagine, inspire and design Dubai’s Future. DIFC plays a major role in Dubai Future District which is the largest economy focused district in the region.
At present, the financial sector is the third-largest contributor to Dubai’s GDP and it is expected to expand in the coming years.
The organizations will join hands for technology-driven programs that aims to find out and support blockchain and AI-driven start-ups in the region. This partnership will also help in accomplishing the Dubai 10X Vision of the Government of Dubai which is to be ten years ahead of all other cities in terms of innovation.
The DFF will be promoting DIFC’s recent initiative the Innovation license to their partners and program participants which indicates its commitment to driving the future of finance along with DIFC.
The MoU also has sketched a plan to start technical training programs in the DIFC campus with courses on Full-Stack Web Development and App Development.
The training program is in support of the Dubai Future Foundation’s One million Arab Coders initiative, launched in 2017 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.
The organizations will also be partnering with leading research and technical institutes for developing programs.
“ As the leading financial hub in the MEASA region, our eyes are firmly on the future. We are committed to driving the growth in the finance sector by embracing innovation, technology and training. Investing in human capital initiatives with the Dubai Future Foundation is incredibly important.”
Khalfan Belhoul, Chief Executive Officer of DFF stated that the partnership would create positive impacts on the organizations as well as the economic growth of the region. This collaboration is evidence of our aim to make Dubai a knowledge-based economy.
DIFC is already an adobe for more than 200 FinTech companies and it works with both local and international shareholders to create an innovative digital infrastructure.