Dubai International Financial Centre (DIFC) announced on Saturday that it has signed a memorandum of understanding (MoU) with China's Jiaozi Fintech Dreamworks.

DIFC said in a statement that the MOU would enable the Centre to further support the UAE in facilitating the 'Belt and Road' initiative and forms a central part of its 2024 strategy to strengthen relationships with the international financial community and increase access to the South-South corridor.

The MoU will enable FinTech firms based in both jurisdictions to benefit from mutually beneficial opportunities, collaborate on joint events, knowledge sharing and training programmes, and access each other's markets, the statement said.

Based in Chengdu, capital of Sichuan Province, Jiaozi Fintech Dreamworks was launched in 2016 under the guidelines of the People's Bank of China, the country's central bank and the local finance bureau, according to the statement.

The platform is on track to become home to over 300 Fintech companies and 10,000 staff, occupying a space of more than 100,000 square metres, the statement said.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#Dubai #DubaiInternationalFinancialCentre(DIFC) #BeltandRoadInitiative #Fintech

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