HisExcellencyAbdulhamidSaeed,Governorof the Central Bank of the UAE, said: “W e are pleased to collaborate with ADGM to co-host FinTech Abu Dhabi 2020. ADGM’s g oals are in line with the Central Bank of the UAE efforts solidifying our position as the regulatory body responsible for promoting healthy development of the financial services sector and market behaviour.”
H.E.added: "Through the establishment of the CBUAE FinTech Office, we aim to create an enabling and tech-friendly environment to facilitate financial technology innovations in the UAE, while continuing to enhance the concept of financial innovation. We look forward to working with ADGM and other strategic partners to achieve our common goals of advancing technological innovation and raising the level of customer experience and financial inclusion in the UAE.”
To help build a mature FinTech ecosystem in the UAE, CBUAE has developed a FinTech Strategy and Roadmap which comprises five key pillars. The five key pillars include: (i) research and the application of potential FinTech solutions to address the needs of the financial services sector; (ii) development of an effective regulatory interface between market participants and regulatory functions of the CBUAE; (iii) establishment of a liaison platform to facilitate exchange of FinTech ideas and joint projects among key authorities and stakeholders; (iv) formulation of a FinTech Talent Development Program; and (v) building a cross-border partnership model with key overseas regulatory authorities and stakeholders.
Commentingon the partnership, His Excellency Ahmed Ali Al Sayegh, Minister of State (UAE) and Chairman of ADGM, said: “We are honoured to co-host and organise the much- anticipated FinTech Abu Dhabi this year, alongside our partner, the Central Bank of the UAE (CBUAE). CBUAE plays an instrumental and significant role in the development of the financial services industry and the successful growth of the UAE economy. Together, we can better support FinTech innovation and strengthen the robustness of the FinTech ecosystem in the UAE and the wider MENA region.”
Since its inception in 2017, FinTech Abu Dhabi has introduced transformational initiatives that support the growth of start-ups, innovations and financial services in Abu Dhabi and the wider region. FinTech Abu Dhabi has become the leading and principal FinTech platform in demonstrating the UAE and Abu Dhabi’s position as the MENA hub and partner for FinTech innovation, research, talent development and collaboration.
FinTech Abu Dhabi 2020 is expected to be the most exciting yet. ADGM and CBUAE will continue to closely monitor the COVID-19 situation as we look to ensure the safety of our attendees, speakers, sponsors and exhibitors. Any resulting updates on the event will be communicated accordingly on our website, newsletters and social channels.
Aboutthe Central Bank of the UAE
The Central Bank of United Arab Emirates (CBUAE) was established in 1973 in Abu Dhabi.
It’s core mission is to promote monetary and f inancial stability to wards sustainable economic growth through effective supervision, prudent reserve management, and robust financial infrastructure in line with international best practices and standards.
As a state reg ulatory authority, CBUAE’s main f unctions include bank ing operations, bank ing supervisory, consumer protection, financial intelligence, financial stability, monetary management, reserve management and research and statistics. In addition to its head quarter in Abu Dhabi, CBUAE has five branches across the UAE including Al Ain, Dubai, Sharjah, Ras Al Khaimah and Fujairah.
For more information, please visit our website www.centralbank.ae
About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global trade and business hub serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths panning over private banking, wealth management, asset management, derivatives and commodities trading, financial innovation, sustainability and more. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs the entire 114 hectares (1.14sqkm) of Al Maryah Island which is a designated financial free zone.
It enables registered financial and non-financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on common law. Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for four consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
For more information, please visit www.adgm.com
© Press Release 2020