The United Arab Emirates is the 28th in the world in the ranking of “Fintech” centers
The United Arab Emirates has jumped from 6th place in the top ranking of Arab countries and 28 globally in the Global Financial Technology Centers Index (Fintech) for the year 2021, published by London-based research company Findexable, surpassing Belgium, New Zealand, Portugal, Italy and Malaysia.
The index, issued by Findexable in collaboration with the Cloud Banking Services platform MAPO, is based on several criteria, including the number and quality of privately owned financial technology companies, in addition to the local business environment in the country. It covers more than 60 countries, 264 cities, and more than 11 thousand financial technology companies around the world.
In terms of cities, Dubai ranked first among Arab countries and 55 globally, making a jump of 3 places from last year’s ranking of the world’s top financial technology centers, while Abu Dhabi was added to the index for the first time, ranking fourth among Arab countries and 173 globally.
The number of financial technology companies with market value of more than $1 billion rose from 61 in April 2020 to 108 in 2021, according to CBE Insight. The total market value of these companies doubled to $440 billion.
