Ireland-UAE Fintech Collaboration to Drive UAE's Financial Services Transformation

In a new collaboration to boost the financial services in the Emirates, the leading Irish Fintech companies will be present in Dubai to enroll in the Irish Fintech Innovation Showcase event organized by Enterprise Ireland.  

This occurs with the Irish Government’s trade and innovation agency cooperating with Dubai International Financial Centre (DIFC) and the Commercial Bank of Dubai (CBD).  

As such, Ireland’s Minister Darragh O’Brien T.D. is visiting the UAE during a series of 60 global trade events arranged by Enterprise Ireland to coincide with St. Patrick’s Day to improve business collaboration with international partners.  

Those multiple events will indicate that Irish businesses positively impact the world and provide innovative solutions to global challenges. In order to do that, Irish companies are employing almost 1.2 million people internationally. 

During the launch of Enterprise Ireland’s series of global events and international campaign, the Tánaiste Deputy Prime Minister and Minister for Enterprise, Trade, and Employment, Leo Varadkar, said, in a time where global economies are emerging due to the virus, putting two tough, disruptive years behind us, it presents an opportunity to rebuild valued relationships with our business partners.”  

He added: “We are an open economy and small, a country on the edge of the Atlantic and at the heart of the European Union, a bridge between Europe and the U.S., where the big firms of tech meet the world’s most creative minds, where cutting edge research and industry work hand in hand.”  

On his part, Irish Minister Darragh O’Brien T.D noted, “I am delighted to be in Dubai to showcase Ireland’s high-level capabilities in Fintech.”  

Using our collaborative approach, he noted that Irish companies would partner with leading financial institutions worldwide to provide their financial services technology transformation.  

“The Emirates is an important key priority for the Irish fintech sector who have the immense expertise and products to help meet the increasing demand for world-leading solutions that we see in the country,” he noted.  

In parallel, identifying fintech development as a national priority, with the UAE among the countries paving the way to embrace technology innovation, transforming financial services into the future.  

To deliver this national priority, the collaboration will be vital to achieving the UAE’s ambitions, and this is demonstrated through today’s event, the Irish Fintech Innovation Showcase, which brings together a range of partners in this shared agenda.  

That is a vital strategy having the Enterprise Ireland team on the ground in the UAE and broader region; Fintech has been earmarked as a priority opportunity for significant growth.   

Stephen Twomey, a Senior Market Advisor for Fintech at Enterprise Ireland MENA, said, “In the FinTech scene in the United Arab Emirates and right across the M.E., there are plenty of opportunities for Irish companies to bring their world-leading solutions to support the regional financial sector.”