Within the framework of the Arab Monetary Fund’s eagerness to enhance knowledge of the ecosystem of Fintech industry in the Arab region, the Arab Monetary Fund launched today, in cooperation with members of Arab Regional Fintech Working Group, the second edition of the Arab Region Fintech Guide which followed the issuance of the first version of it in August 2020.
The second edition of the Arab Region Fintech Guide aims to be a gateway to learn about Fintech industry in the Arab countries and the related legislation. Also refers to the regulatory and supervisory provisions and procedures, licensing requirements for companies, the sectoral distribution of companies licensed to engage in Fintech activities, in addition to introducing the regulatory authorities responsible for the industry and their role within the Arab countries. The guide reviewed the incubating ecosystem for Fintech industry, its centers, business accelerators, and the activities and initiatives of Fintech industry existing in number of Arab countries.
The second edition of the Arab Region Fintech Guide is identifying the Fintech ecosystem in ten Arab countries, namely the Hashemite Kingdom of Jordan, the United Arab Emirates, the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the Republic of Sudan, the Sultanate of Oman, the Republic of Iraq, the State of Kuwait, the Republic of Lebanon, and the Arab Republic of Egypt, compared to four pilot countries in its first edition released in August 2020 edition. It is reported that the guide is prepared according to the responses of Arab countries received from an annual questionnaire sent to Arab central banks. It includes the legal and regulatory frameworks for Fintech activities in the Arab countries.
On this occasion, His Excellency Dr. Abdulrahman Al Hamidy, Director General Chairman of the Board of Directors of Arab Monetary Fund, indicated that the second edition of Arab Region Fintech Guide comes to emphasize the great interest that Arab Monetary Fund, central banks and Arab monetary institutions attach to promoting the Arab Region Fintech industry, expressing his hope that the third edition would include all Arab countries. His Excellency also, emphasized the increasing interest shown by their Excellencies, governors of Arab central banks and monetary institutions, in the various activities of the Arab Regional Fintech Working Group, and the prominent role it plays as a platform for dialogue, knowledge transfer and exchange of experiences and expertise among Arab countries in this field.
You can download the report by clicking on the following link:
https://www.amf.org.ae/en/publication/arab-regional-fintech-working-group
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
