New UAE-Israel Deal Promotes Business Ties, Focuses on Fintech

By NoCamels Team October 20, 2021 2 minutes

In the photo, from left to right: Michal Seror, Director of Community Development at Start-Up Nation Central; Salmaan Jaffery, DIFC Chief Business Development Officer; Eliran Elimelech VP Strategic Partnerships at Start-Up Nation Central; Mohammad Alblooshi, DIFC Sector Head – FinTech and Innovation. Courtesy of Start-Up Nation Central

Start-Up Nation Central (SNC), the Israeli non-profit connecting businesses, governments, and NGOs to the local tech ecosystem, has signed an agreement with the Dubai International Financial Centre (DIFC), a leading global financial hub in the Middle East, Africa, and South Asia.

The agreement aims to “establish new bridges” and promote innovation-based business ties” between the UAE and Israel, particularly in the fields of fintech and digital security, a statement from SNC said.

A signing ceremony was held at DIFC offices in Dubai where SNC VP of Strategic Partnerships Eliran Elimelech and DIFC Chief Business Development Officer Salmaan Jaffery pledged to work together on promoting commercial agreements to benefit both nations in the specific fields mentioned above.

“Today, we have an opportunity to strengthen commercial relations between the UAE and Israel, especially in the fintech sector. As the region’s hub for financial services, fintech and innovation, DIFC is well regarded for promoting and nurturing innovative and disruptive enterprises that have the potential to be the next unicorns from the region. Our partnership with Start-Up Nation Central will enable us to foster a culture of collaboration among entrepreneurs and innovators in both nations and further build a vibrant ecosystem to advance the FinTech sector,” said Arif Amiri, CEO of DIFC Authority, the principal governing body of the DIFC.

Established 17 years ago, the DIFC was created to connect fast-growing markets and facilitate trading in Asia, Europe, and the Americas through Dubai. The center makes up one of the largest and most diverse pool of industry talent in the region and works with 72 countries.

“DIFC is a strategic partner when it comes to innovative technologies in general and FinTech in particular. We see great importance in fostering the relationship with DIFC as a central ally in the UAE and a strategic avenue aiding the development of the two ecosystems. Following the anniversary of the Abraham Accords, we see this agreement as a manifestation of the innovation diplomacy efforts taking place in the region. We believe it will be an excellent platform for future collaborations, transforming the lofty ideas set out by the states’ leaders into on-the-ground results,” said Avi Hasson. CEO of SNC.