Today's Edition
SARA ALZAABI (ABU DHABI)
The Future of Finance 2024, being held on November 20 at the Waldorf Astoria DIFC in Dubai, will attract industry leaders, policymakers and market players to explore the UAE's growing role as a global financial hub.
Hosted by Bloomberg, the event will feature key figures from the UAE government, as well as from the global financial sector.
In anticipation of the event, Giuseppe Netti, Regional Head of Sales, Middle East & Africa at Bloomberg LP, spoke to Aletihad about the UAE and its appeal to international investors.
He explained, "The UAE's attractiveness stems from its business-friendly environment, regulatory stability, and strategic location as a gateway to regional and global markets.
"Its investment in infrastructure and commitment to diversifying the economy also appeal to international investors."
To maintain appeal, he noted, transparency, reliable market data and regulatory streamlining are crucial for investors to make informed decisions in a competitive global market.
Addressing the impact of new regulations on investor confidence and future developments, he said the UAE's regulations aimed to enhance transparency and align with global best practices.
The changes would help create a stable market environment and attract long-term investment in digital assets and fintech.
On how AI and digital advancements are reshaping the UAE's financial sector, Netti explained that the latest trends are transforming the UAE's financial sector by streamlining operations and enhancing decision-making processes.
"At Bloomberg, we have been using AI since 2011. Our AI-Powered Earnings Call Summaries leverage generative AI and decades of domain expertise to help analysts quickly extract key insights from complex financial information," he added.
Moving on to the regional market, Netti said that the Middle East faces global challenges like aligning with international standards, enhancing regulatory transparency, and building a skilled workforce for finance and technology growth.
Rapid economic expansion adds complexity, requiring swift adaptation, he noted.
"Addressing these challenges will require continued investment in adaptable regulatory frameworks, fostering collaboration across sectors, and equipping institutions with the tools and insights needed to navigate this complexity."
However, he pointed out that the UAE is balancing innovation with regulation in fintech and digital finance; it promoted growth while mitigating risks, and focused on innovation tools.
Netti also noted that the UAE was integrating environmental, social, and governance (ESG) goals into its financial strategy to attract responsible investment and align with global sustainability trends.
"According to recent BloombergNEF research, achieving global climate commitments requires a rapid buildout of renewable energy this decade, equivalent to over 11 terawatts of installed capacity by 2030. This underscores the importance of integrating ESG considerations into financial strategies to meet sustainability targets," he said.
Netti said the Future of Finance event supports the UAE Vision 2031 with its focus on innovation, regulation and sustainability.
He remarked that the event reflects the Middle East's growing importance in the global financial landscape and promotes collaboration and knowledge-sharing to advance the financial sector, while addressing evolving challenges in an interconnected world.
