#Fluid app fintech full#

We provide services across the full spectrum of financial technology and we benefit from the ability to draw upon our extensive wider corporate, insurance, regulatory and financial experience to address the various micro-industries that form the fintech ecosystem.

Partner, and head of the firmвЂ™s fintech practice Nadim Bardawil | BSAвЂ™s technology, media and telecommunications

We are particularly sought out for our expertise in the payments space, online wealth management, blockchain technology and start-up fundraising. The last five years has seen a true revolution in the financial services industry which was felt at every level from consumers to businesses to regulators.Д«SAвЂ™s fintech practice is an exciting part of our law firm offering which has continued to grow exponentially over the last four years focusing on cutting-edge fintech matters. BSAвЂ™s fintech practiceДЇintech continues to be one of the driving forces of the UAEвЂ™s big bet on technology, with an expected US$3bn in investment capital funding generated by about 465 fintech firms by 2022. BSA is a market leader in new and evolving sectors, and partners with their clients towards a sustainable and progressive future.

Their diverse team of 150 lawyers are from 35 different cultural backgrounds and speak 22 languages. Since 2001, BSA has grown to be one of the top Middle Eastern law firms, with nine offices across five countries. To investigate the rise of the fintech industry in the Gulf, The Legal 500 has partnered with Dubai-headquartered BSA AHMAD BIN HEZEEM & ASSOCIATES LLP (вЂBSAвЂ™). While much remains to be done for the region to become the epicentre of the global fintech industry, a closer look at the regional ecosystem reveals a considerable growth potential. The Dubai International Financial Centre (DIFC) anticipates that Middle Eastern-based fintech companies will raise nearly US$3bn in venture capital funding by 2022, just under a third of a projected global market funding of US$10bn. A little over four years since that time and the region has become one of the fastest growing markets for fintech innovation in the world. The regionвЂ™s first significant regulatory framework directed specifically at the sector emerged in January 2017 when the Central Bank of the UAE launched new licensing programmes for digital payment services. The GCC was a relatively late arrival to the fintech scene. These accelerators are already among the most sophisticated and vibrant spaces for fintech innovation on Earth, and all the signs point to even stronger support for the fintech industry from the GCCвЂ™s regulatory and governmental authorities in the coming years. In particular, the GCC is now home to a dense concentration of market-leading fintech accelerators offering financial and regulatory support along with unparalleled networking opportunities and a range of other benefits. The success of the regionвЂ™s fintech sector has been the result of careful strategic planning on the part of GCC governments, many of which are offering financial, regulatory and other incentives to the worldвЂ™s fintech community. In the past financial year, the number of fintech businesses registered with the DIFC more than doubled to over 300 вЂ“ roughly 10% of all businesses registered at the centre and around a third of all financial businesses. DIFC saw a 20% increase in the number of firms operating there during 2020, with fintech among the leading growth sectors. One aspect of these policies has been to promote technology-backed and data-driven industries, particularly in the financial services sector.Д®arly results of this success can be seen in the resilience of The Dubai International Financial Center (DIFC) вЂ“ the regionвЂ™s flagship offshore business hub вЂ“ to the economic slowdown during the pandemic. In recent years, the governments of the Gulf Cooperation Council (GCC) have moved to reduce their reliance on hydrocarbons, designing ambitious strategic plans to develop into innovation-led economies within a 15- to 30-year horizon.