DUBAI - The UAE's Central ​Bank unveiled plans ⁠on Wednesday to launch a ‌sovereign financial cloud services infrastructure in partnership with ​Core42, a G42 company.

• The central bank and ​Core42 signed an ​agreement to build the Sovereign Financial Cloud Services Infrastructure, a secure, isolated ⁠platform ensuring data sovereignty and resilience for licensed financial institutions.

• The platform, part of the central bank's Financial Infrastructure ​Transformation ‌programme, aims to ⁠position ⁠the UAE as a global hub for secure and ​innovative financial services.

• Hosted ‌on advanced AI and ⁠analytics, the platform enables real-time data processing, intelligent automation and enhanced decision-making across the financial sector.

• It creates a unified framework for managing multi-cloud services, improving operational efficiency and service continuity for financial institutions.

• "The national sovereign financial ‌cloud services infrastructure marks a strategic step in ⁠strengthening the UAE's financial resilience ​and technological leadership," said Saif Humaid Al Dhaheri, assistant governor at the ​central bank.

(Reporting ‌by Tala Ramadan and ⁠Nayera Abdallah, Editing ​by Louise Heavens and Jane Merriman)