Dubai has been named the world’s leading fintech centre by industry professionals in the latest Global Financial Centres Index (GFCI).

The emirate also rose to second place globally for professional services and ranked sixth worldwide for reputation.

Dubai retained its top position for “future prospects and potential” for the fourth consecutive GFCI report.

The latest findings also show that Dubai is the only financial centre in the Middle East, Africa and South Asia region to rank among the world’s top 10 financial centres.

Dubai Named World’s Leading Fintech Centre

The GFCI is compiled by London-based consultancy Z/Yen in partnership with the China Development Institute.

The latest edition includes 39,531 assessments from industry professionals who responded to its online questionnaire, as well as 143 different instrumental factors.

Dubai’s top ranking in fintech comes as the Dubai International Financial Centre (DIFC) continues to expand its financial services and technology ecosystem.

Essa Kazim, Governor of DIFC, said: “The GFCI results reinforce Dubai’s position as one of the world’s leading financial centres and demonstrate the success of the vision set by our leadership through the Dubai Economic Agenda.”

Kazim added: “As Dubai strengthens its position at the heart of the global financial system, DIFC will continue to support the emirate’s ambitions and consolidate its standing among the world’s most influential financial centres.”

Arif Amiri, Chief Executive Officer of DIFC Authority, said: “Dubai’s position in the GFCI is underpinned by the strength and scale of DIFC and validated by the assessments of financial services professionals worldwide.”

He added: “As the largest ecosystem of regulated financial companies in the Middle East, Africa and South Asia region, and the region’s only financial centre operating at scale across banking, capital markets, wealth and asset management, insurance and fintech, DIFC provides a unique platform for innovation, growth and collaboration.”

Amiri said: “This depth and diversity enable us to continue advancing the financial services industry, accelerate the adoption of emerging technologies and play a role in shaping the future of the global financial landscape.”