Dubai has reached a significant milestone by ranking 5th globally for FinTech in the latest Global Financial Center Index. This achievement underscores the city’s transformation into a leading global financial center, largely credited to the Dubai International Financial Centre (DIFC) and its efforts over the past 20 years. Additionally, Dubai’s overall ranking improved to 12th in the index.

Essa Kazim, the governor of DIFC, expressed pride in Dubai’s recognition as one of only eight cities worldwide to be acknowledged as a global leader in the financial industry. He stated that being a top-five global FinTech hub for the first time reflects Dubai’s commitment to innovation and excellence, driven by the initiatives of DIFC.

In the latest rankings, Dubai’s advancements were highlighted, particularly its position as the financial city expected to gain further significance in the future. Kazim emphasized that Dubai has become the most mentioned financial city regarding future importance, reaffirming its status as the leading global financial center in the region.

Dubai is notably the only financial city in the region to feature in the top 15 for global competitiveness across various categories. The city secured 9th place in infrastructure, 10th in business environment, 11th in reputation, and 12th in human capital.

Arif Amiri, CEO of DIFC Authority, highlighted that Dubai’s rise in the Global Financial Center Index reflects DIFC’s unwavering commitment to enhance the region’s financial ecosystem. He noted that Dubai stands out as the only financial city in the region ranking among the top 15 in multiple categories.

The Global Financial Center Index, published by Z/Yen in London, is a respected benchmark for the financial services industry, assessing 119 financial centers worldwide. It combines evaluations from financial professionals and quantitative data, with a total of 31,314 assessments collected from 4,946 financial services professionals via an online questionnaire.

Amiri added that Dubai’s recognition as a leader in key sectors illustrates the depth of its financial capabilities. He pointed out that these accomplishments reflect a strategic focus on innovation, legal and regulatory excellence, and the development of a skilled workforce, ensuring that Dubai remains a frontrunner in global finance.