The agreement, which is the first of its kind for the UAE and Israel, will enable DIFC to further support the Emirates in facilitating economic growth from the technology and innovation sectors.
Both parties will work together on events, knowledge sharing, talent development and facilitating mutual introductions and referrals for firms keen to expand in each respective jurisdictions.
DIFC FinTech Hive, the largest financial technology hub in the Middle East, has grown to become a leading centre of innovation globally since its inception in January 2017.
Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive said, "Like Dubai, Israel is well regarded for its approach to innovation and embracing FinTech so it is important to collaborate now to share knowledge and develop the sector further. We are pleased to have partnered with FinTech-Aviv as we can achieve great things together. DIFC is now home to more than 240 FinTech related firms and the opportunities for growth are endless."
Nir Netzer, the Chairman of FinTech-Aviv said, "In this unprecedented time of reaching out to promote peace in the Middle East, we’re honoured to initiate this unique collaboration in order to facilitate the export of Israeli technologies to new markets.”
The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).
Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.
DP World has announced revenue grew by 9.7 per cent to $20 billion (AED 73.5 billion), and adjusted EBITDA rose by 6.7 per cent to $5.5 billion (AED 20.2 billion), with an adjusted EBITDA margin of 27.2 per cent for the year ending December 31, 2024.
Abu Dhabi saw a significant rise in the resolution of consumer complaints against commercial establishments last year, with 90 per cent of cases being settled amicably, compared to 83.4 per cent in 2023.