Media ININ Economy We Trust
DUBAI, 28th July, 2019 (WAM)
A delegation from the Dubai International Financial Centre, DIFC, undertook a successful mission to Maharashtra in India, led by Essa Kazim, Governor of the DIFC, and Arif Amiri, Chief Executive Officer of the DIFC Authority.
The meetings took place in Mumbai and the wider Maharashtra region, during which DIFC partnered with the financial house, Phillip Capital, to engage key business and industry leaders from across a variety of sectors, including infrastructure development, construction, logistics, automotive, manufacturing, technology, oil and gas, and hospitality.
As part of the visit, the DIFC and the Government of Maharashtra signed a Memorandum of Understanding, entailing plans for both entities to mutually support FinTech start-ups based in their respective markets, whilst facilitating the development of their business ecosystems through collaboration and the sharing of resources.
Commenting on the meetings, Amiri said, “Indian FinTechs are proving to be pioneers in the field, presenting an exciting prospect for the region to be a global leader in the space. We are dedicated to nurturing this growth through strategic international partnerships and knowledge-sharing with like-minded public organisations, such as the Government of Maharashtra. Together, we will continue to facilitate opportunities for firms to innovate within the MEASA’s burgeoning FinTech industry.”
The comprehensive DIFC FinTech ecosystem includes two highly successful accelerator programmes offered by DIFC FinTech Hive and Startupbootcamp, which respectively support early-stage start-ups and their growth. In addition, start-ups based at the centre gain access to a US$100 million FinTech fund, subsidised licencing options, forward-thinking regulations and a financial community of over 2,100 regional and global institutions.
“The Government of Maharashtra shares the DIFC’s core objective of fostering next-generation innovation that will enable financial empowerment and technological advancement across the entire financial services ecosystem. At present, the DIFC is home to more than 100 Indian financial firms, banks, sector specialists and consultancies, and we are confident that this partnership will bring further opportunities for ongoing collaboration within the realms of financial technology and innovation,” noted S.V.R. Srinivas, Principal Secretary, Directorate of Information Technology, Government of Maharashtra.
