The Banking Executive Magazine - October 2023

ISSUE 178 OCTOBER 2023 the BANKING EXECUTIVE 47 FinTech and AI Chornicle age the US$ 377 billion payment- processing giant’s global expertise to jointly establish a co-branded inno- vation hub in Dubai. As part of the agreement, the cham- ber will work with the expert team at Mastercard Venture Labs to develop and launch the Innovation Centre, which will serve as a platform for co- operation in digital innovation and artificial intelligence technologies. The Innovation Centre aims to attract international technology companies, startups, and digital talent to Dubai, and will contribute to the creation of joint opportunities and partnerships with prestigious government entities including the Dubai Digital Author- ity, Dubai Future Foundation, and Dubai Chamber of Commerce. The MoU was signed by Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Mete Guney, Executive Vice Presi- dent of Services for Eastern Europe, Middle East, and Africa at Master- card, during the second day of the Dubai Business Forum. Dubai Chamber of Digital Economy also signed three MoUs with Re- motePass, Tokio Marine & Nichido Fire Insurance, and Silkhaus, which have joined the growing list of strate- gic partners providing specialised services to digital companies as part of the ‘Business in Dubai’ platform. Al Gergawi commented, “The sign- ing of these MoUs reflects the cham- ber's commitment to implementing the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen Dubai's posi- tion as the global capital of the digi- tal economy. These agreements will contribute to achieving our strategic objectives by further enhancing the emirate’s digital ecosystem and con- solidating Dubai’s position as the destination of choice for digital com- panies of all kinds around the world.” ‘Business in Dubai’ is a platform launched by Dubai Chamber of Dig- ital Economy to enhance Dubai’s favourable business environment by simplifying a range of processes for companies seeking to set up or ex- pand their activities in the emirate. Aimed both at businesses seeking to launch in the emirate and existing digital companies, the platform offers convenient access to world-class in- frastructure designed to foster cre- ativity and enable companies to explore new business horizons. The new additions bring the total number of partners providing serv- ices through the platform to 14, rein- forcing the chamber's efforts to develop a business environment that helps digital companies grow and prosper in line with the goals of the Dubai Economic Agenda (D33). The agreements were signed at The Deals Hub, a dedicated impact-dri- ven platform for global business leaders and investors to forge and an- nounce major business initiatives, partnerships, investments, and com- mercial alliances during the Dubai Business Forum. An innovative initia- tive that reflects Dubai Chambers’ commitment to driving growth in in- ternational trade and investment, The Deals Hub further consolidates Dubai’s position as a leading global city for doing business.