Dubai, London Financial Hubs Set To Deepen Fintech Ties

Dubai International Financial Centre (DIFC) and the City of London are to deepen ties in financial technology to benefit both the UAE and the United Kingdom.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai and chairman of DIFC, on Tuesday received Peter Estlin, Lord Mayor of the City of London.

During the meeting, Sheikh Maktoum talked with Estlin about the global financial situation and expectations for the coming years, state news agency WAM reported.

The two sides explored means of enhancing cooperation and exchanging of expertise between DIFC and the financial district in London, especially in the field of financial innovation technology and other sectors that serves their common interest, it added.

Sheikh Maktoum said he welcomed the "opening of new cooperation bridges" for the benefit of both countries.

The meeting was also attended by a number of DIFC officials and a delegation from London.

Estlin, the global ambassador for the UK’s financial and professional services industry, is visiting Kuwait City, Dubai and Abu Dhabi this week to strengthen trade and investment ties.

Estlin, who took office in November, is meeting with sovereign fund investors and senior figures from the region’s financial sector during the visit, including the Kuwait Investment Authority, Mubadala Investment Company and Abu Dhabi Investment Council.