Abu Dhabi: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has formed a new partnership with the UAE’s GlassQube Business Centre Services to further enhance the Financial Technology (FinTech) ecosystem in Abu Dhabi.
The agreement provides a framework for collaboration, cooperation and consultation between the FSRA and GlassQube Business Centre focusing on technology development and innovation in financial services.
“It enables both parties to share knowledge, exchange expertise and join efforts on initiatives that will support the development of the FinTech ecosystem in Abu Dhabi and the wider region,” ADGM said in a statement.
Innovation cluster
It added that the Memorandun of Understanding (MoU) will enable FSRA and GQC to explore initiatives such as creating and providing an innovation cluster in ADGM where FinTech entrepreneurs and innovator firms can exchange knowledge, test and launch innovative products, services and business solutions within controlled boundaries in a cost-effective environment.
Richard Teng, CEO, Financial Services Regulatory Authority stated: “GlassQube provides unique expertise and services to support the FinTech community, and we look forward to working closely with them and our other MOU partners to establish a vibrant and enduring Fintech ecosystem in Abu Dhabi.”
Abu Dhabi Global Market, an international financial centre opened for business in October 2015 aims to play a vital role in positioning the capital as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.
