Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers has announced the launch of a new Fintech & Payments Business Group aimed at bringing together companies of all sizes within the fintech and payments sector to encourage collegial dialogue, advocate policy change and promote the emirate as a highly competitive global commercial centre.

The launch of the new business group is part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai, ensuring all industries and economic activities are represented to boost their competitiveness and drive Dubai’s sustainable development.

The new Fintech and Payments Business Group will be instrumental in supporting Dubai companies and providing members with key insights and analysis on trends across the fintech ecosystem to leverage policy and regulatory change recommendations and benefit from new financial technology advancements.

Commenting on the launch of the business group, Maha AlGargawi, Executive Director of Business Advocacy at Dubai Chambers, said: “Business groups are in important component in creating a supportive, enabling and world-class business environment in Dubai. Through continued transparent discussions, the business group will be able to support essential policy changes that will facilitate and improve the ease of doing business in Dubai and cement the emirate’s position as a dynamic and global business hub.

“The new FinTech and Payments Business Group is a great addition to our network of business groups, and we believe it will play a pivotal role in supporting members and the emirate’s private sector to drive FinTech growth and serve as a platform to leverage the vast opportunities in this vital sector.”

The Fintech and Payments Business Group will focus on ways to adopt the highest standards in providing businesses financial services and payment solutions.

Business groups are reliable advocates for their respective sectors and play a crucial role in recommending policy changes to improve a sector’s competitiveness and attractiveness while promoting international best practices and supporting economic growth. Dubai Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.