The Premier is visiting the Middle East to promote Bermuda as a top financial centre.

David Burt, who is also the Minister of Finance, left the island this week to attend the Satoshi Roundtable conference in Dubai, United Arab Emirates.

A government spokeswoman said the weeklong conference is an “invite-only event attended by top digital asset founders, leaders and executives”.

Ahead of the event, Mr Burt noted that the island had faced “challenges in fintech”.

He added: “However, just as it was not all smooth sailing in the early years of reinsurance, in the long term, Bermuda’s leadership in the digital assets industry will yield benefits in the future.”

Mr Burt will lead a delegation that includes members of the Bermuda Monetary Authority and the Department of Economic Development.

He said: “I look forward to representing Bermuda at the Satoshi Roundtable, a critical event for leaders in the digital asset industry, to which the Government has been invited and has attended since 2019, thanks to our innovation and leadership in the digital assets space.

“I’m grateful for the partnership between the Government and the Bermuda Monetary Authority.

“Their support at events like these is invaluable as it provides invitees direct access to our world-renowned financial services regulator, which is critical for the expansion of digital asset companies and insurers in Bermuda.”

The spokeswoman said that the event was an opportunity “to promote the island’s innovative culture and the regulatory clarity provided to digital asset companies and digital asset insurers”.

She added: “Events like the Satoshi Roundtable provide a platform for Bermuda to invite high-quality companies to join our ecosystem, which promotes economic development and job creation.”

While in Dubai, Mr Burt will attend regular meetings in Bermuda remotely, including Tuesday’s Cabinet meeting.

He is expected to return to the island on February 7.

The Premier visited the UAE in November and December, attending the Abu Dhabi Finance Week and the Conference of the Parties in Dubai.