In a move to bolster innovation and foster collaboration within the global financial landscape, Commercial Bank of Dubai (CBD), one of the UAE’s premier national banks, has announced its strategic partnership with the Dubai FinTech Summit (DFS), organized by the Dubai International Financial Centre (DIFC). The partnership signifies CBD’s commitment to supporting forward-thinking businesses on a global scale, reinforcing its role as a catalyst for innovation and growth in the FinTech sector.

The collaboration, formalized through an agreement signed by Mohammad Alblooshi, CEO of DIFC Innovation Hub, and Ali Imran, COO of Commercial Bank of Dubai, in the presence of Arif Amiri, CEO of DIFC Authority, and Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, underscores the shared vision of DFS and CBD in strengthening the global financial ecosystem through knowledge exchange and innovation.

CBD’s pivotal role in advancing technology-driven financial solutions is exemplified by its establishment of the first Digital Lab at the DIFC Innovation Hub. This initiative underscores CBD’s dedication to fostering a dynamic and technology-driven financial ecosystem, setting the stage for a smarter and more interconnected financial future. Notably, CBD’s involvement in pioneering initiatives such as the Buy Now Pay Later (BNPL) solution by Postpay highlights its proactive approach in accelerating the growth of the FinTech industry.

Arif Amiri, CEO of DIFC Authority, commented, “The Dubai FinTech Summit serves as a platform for visionaries, disruptors, and innovators to converge and shape the future of finance. Our partnership with Commercial Bank of Dubai underscores our shared commitment to cultivating a vibrant and forward-thinking FinTech ecosystem. By leveraging synergies and fostering collaboration, we aim to position Dubai as a global hub for innovation and entrepreneurship in the financial sector.”

Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, expressed enthusiasm about the partnership, stating, “Commercial Bank of Dubai is honored to be part of the Dubai FinTech Summit 2024, a premier platform that brings together industry leaders to drive innovation and shape the future of finance. Our collaboration with DFS aligns with our strategic vision to lead the FinTech revolution and deliver innovative solutions that meet the evolving needs of our customers. As a customer-centric bank, we are dedicated to driving meaningful change and exploring new avenues for growth and collaboration.”

Aligned with Dubai’s ambitious D33 Agenda to position the city as a leading global financial hub by 2033, the Dubai FinTech Summit aims to facilitate cross-border collaboration and innovation. Scheduled for May 6-7, 2024, at Madinat Jumeirah, Dubai, the summit will convene over 8,000 decision-makers, 300 thought leaders, and 200 exhibitors, providing a platform to explore emerging FinTech trends and their transformative potential in the MEASA region.