Dubai's financial center expects a record year for firm setups, driven by post-pandemic economic resurgence and low-tax environment, attracting FinTech and crypto firms.
Dubai's financial center anticipates a record year for firm setups, driven by economic resurgence post-pandemic and low-tax environment appeal, with FinTech firms and crypto firms among the newcomers. The city's favorable tax-free status and ease of doing business have drawn hedge fund traders, and the United Arab Emirates' exit from a global watchdog's "gray list" has facilitated banking activities. The second edition of the Dubai FinTech Summit hosted over 8,000 industry leaders from more than 100 countries and aimed to highlight Dubai's potential to become a global FinTech hub.
May 06, 2024
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