(MENAFN- The Peninsula) Joel Johnson |
The Peninsula
Doha, Qatar: The second edition of the Arab Fintech Forum was inaugurated yesterday at The Ritz-Carlton Doha with a number of industry experts emphasising the fintech market in the region and the opportunities that lie ahead.
Central to the day's discussions was the opening speech by the President of the Arab Fintech Forum Malik Shishtawi and a keynote presentation by Mohammed Al Emadi, Senior Manager of investment at Qatar Development Bank.
Speaking to The Peninsula on the sidelines of the forum, President of the Arab Fintech Forum Malik Shishtawi said:“The second edition of the forum is definitely much bigger than the first one. There is a huge growth, whether it's from the capacity of the conference itself, and the participation or even the new initiatives that we have, which is associated with the event.”
The official highlighted that there are various new initiatives, which will be witnessed during the forum such as startups pitching their business ideas for 5 minutes each to the investors for an opportunity to receive funding. At the end of the day, there will also be an award ceremony to recognise key players in the industry in addition to honoring the sponsors and partners of the event.
During the first edition of the forum, which was held post-Covid period, the event was limited to a maximum of 120 participants. However, this year, the forum can accommodate over 200 members and 350 have been registered in the system, lauded the official.
He stated“Also from international participation, it was difficult for people to travel today during COVID-19, but today we have delegations from Italy, Greece, and from across the globe. We also have companies from the UK, Germany, and Belgium, and therefore, the international participation is more solid this year.”
The market expert outlined that the market in general has to be more active by taking part in similar events to gain a broader understanding of the opportunities and challenges in the country. He noted that being part of these kinds of international private events is essential.
“We understand government events are important for the local ecosystem and to enable the conversation between the startups in Qatar and the regulators. However, if we are looking at positioning Qatar as a business events destination in general and a Fintech hub on a specific, we need to be more part of events such as ours.
During the keynote address, Shishtawi stressed the commitment to bringing events such as the Arab Fintech Forum to drive“real impact” and to make the industry active, where the objectives of digital transformation media and financial sector are met.
Shishtawi remarked that the platform creates opportunities for all the stakeholders in this sector to talk and bring decisions collaborating with partners.
“This year we are noticing the growth and the development and we are proud of the participation of many international delegations from more than 20 countries. We have also respectful speakers from more than ten countries. We have an exhibition area, which is newly introduced this year and we've expanded the number of days to two,” he said.
The two-day forum consists of several panel discussions and workshops for startup entrepreneurs in the sector to enhance their opportunities and meet with investors face-to-face to request funding.
Some of the panel talks on the first day included 'Shaping the future of fintech in MENA region', 'AI and Blockchain in financial services', 'Open banking and financial inclusion', and 'Opportunities and challenges in the fintech market'.
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