Fintech firms to benefit from DIFC $100m fund

Dubai: Dubai International Financial Centre’s (DIFC) new $100 million (Dh367 million) FinTech fund, which will come from internal resources, will support Fintech Hive start-ups in Artificial Intelligence, blockchain, robotics, DIFC governor Essa Kazim said on Tuesday. He was speaking at the Global Financial Forum, which was opened by Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai and the president of DIFC. DIFC thinks that fintech is “underserviced” and the allocation of funding going into this new business is “very very limited” in the MEASA region, accounting to less than 1 per cent of the total. […]

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