Dubai will host the 4th Financial Technology (FT) Summit organised by the World Development Forum from April 8 to 9.

The exclusive event, being organised with the support of top Arab banks, will shed light on the role of technology to enhance competitiveness of the Arab Financial and Banking sector.

Younes Haji Al Khoury, undersecretary of the UAE Ministry of Finance, said in an era of information and knowledge-based economy, technology is no more a mere complementary but a vital element to existence and success.

Wealth growth is no more dependent solely on the nation’s natural resources, but also on the ability of each country to manage data, software, communication and telecommunications networks.

Khaled Eid, managing director of the Dubai-based World Development Forum, organisers of the summit, said Eid said the theme of the summit this year will be 'Business Innovation Through Technology'.

The finance technology market has witnessed a remarkable growth in last years due to increased demand from the regional banking and financial institutions to meet international standards, he said.