Dubai has achieved a significant milestone by securing a spot among the world’s top five cities for financial technology (fintech), as highlighted in the latest Global Financial Centres Index (GFCI) published by Z/Yen, a London-based commercial think-tank and consultancy specializing in finance, technology, and the voluntary sectors. The index evaluates 119 financial hubs based on expert assessments and key industry data.

For the first time, the city has been ranked as one of only eight cities worldwide recognized as a financial powerhouse with broad and deep capabilities across all areas of the finance sector. It joins leading global financial centres such as London, New York, and Paris in this elite category. Dubai’s overall ranking climbed to 12th in the latest index, making it the most mentioned financial city in its region.

The city is expected to grow in significance as a major global financial hub. It is also the only financial centre in the region to rank in the top 15 across multiple key categories: 9th for infrastructure, 10th for business environment, 11th for reputation (including regulations and innovation), and 12th for human capital.

When it comes to specific financial sectors, Dubai performed strongly across the board:

  • Fintech: 5th place globally
  • Professional services: 6th place
  • Investment management: 8th place
  • Trading: 13th place
  • Banking and finance: 14th place

These rankings are based on feedback from nearly 5,000 financial professionals and over 31,000 assessments collected through the GFCI survey. As the index is updated regularly, Dubai’s position is likely to evolve further in the coming years, solidifying its role as a key player in global finance.