Dubai, March 28 2022 – In its final week, the Dubai Expo 2020 hosted the World Entrepreneurs Investment Forum, in the framework of the Annual Investment Meeting. Hon. Giulio Centemero (Italy),Co-Chair of the PAM Panel on Trade and Investment, was invited as a keynote speaker to address the Panel on Inclusive Sustainable Finance.
Hon. Centemero joined virtually the Panel, which was composed of senior experts, including Mr Barda, from the Union for Arab Banks, Ms Khalil from the Mohammed Bin Rashid Fund for SMEs, Mr Al Hamidi, Executive Vice President of the Saudi Social Development Bank, as well as Mr Ganapathy, from Bambucorn Ltd and Mr Al Aali, from the Hope Fund of Bahrain.
In his remarks, Hon. Centemero stressed the importance of the digitalization process a tool to foster financial inclusion and, consequently, social inclusion. In this context, he emphasized the role that Fintech can play in connecting remote areas with big urban centers, outlining the example of Italy and Greece.
“However,” – he continued – “many challenges lie ahead of us. In the MENA region, on average, only around 70% of the population has access to the internet. The same region is experiencing a ‘Digital Paradox’: despite the large use of social media, close to 90% of the population aged 15-24 lacks an account at a formal financial institution”.
Asked about the role of policymakers in promoting financial inclusion, Hon Centemero recalled the PAM Start-up Market Project and the recently MoU with the University of Salerno and INNEXTA. He added “We are currently mapping the existing crowdfunding platforms in PAM region, and in its final phase the project will serve as a meeting point between investors and entrepreneurs, SMEs and Start Ups”.
“At PAM”- he concluded – “We believe that we need to encourage the culture of entrepreneurship and the Start Up Market project will be instrumental to this end”.