Fatima Al Hammadi, Director of the FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster in Abu Dhabi, said the new cluster provides an advanced platform for developing the financial sector’s infrastructure and contributes to strengthening Abu Dhabi’s position as a leading global financial hub.

Speaking to the Emirates News Agency (WAM), Al Hammadi explained that the cluster works to connect regulators, financial institutions, fintech companies, academic research partners, and global investors.

She noted that by 2045, the cluster aims to enhance the sector’s contribution to the emirate’s economy by adding AED 56 billion to GDP, attracting AED17 billion in investments, and creating 8,000 jobs across these sectors.

She affirmed that Abu Dhabi today has a strong financial base, with more than US$1.7 trillion in assets managed by sovereign wealth funds, making it one of the world’s major financial capitals.

She added that work within the cluster is carried out within a single integrated ecosystem that brings together regulators, technology institutions, and global companies to jointly strengthen the financial sector and develop a modern financial infrastructure.