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DIFC ties up with French innovation unit

Dubai International Financial Center (DIFC) has signed a memorandum of understanding with Finance Innovation, a Paris-based innovation cluster for the financial services industry. DIFC said the cooperation will support the development of a fintech ecosystem in both markets and facilitate knowledge sharing between regulatory and financial communities. The MoU was signed by Arif Amiri, CEO of DIFC Authority, and Joelle Durieux, CEO of Finance Innovation. Amiri said DIFC explore potential collaboration related to its fintech funds and strengthen efforts to support the growth of the regional fintech and venture capital ecosystem. Durieux said the cooperation would ultimately allow French startups to expand their presence in the Middle East, Africa and South Asia to explore further prospects for growth. As part of the arrangement, The Academy, an education center at DIFC, will potentially host an educational program on the latest fintech and innovation trends, while FinTech Hive at DIFC will look to design a program tailored for the UAE and French fintech startups.

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