Dubai: The Central Bank of the UAE (CBUAE)and Abu Dhabi Global Market (ADGM) have joined up to support the adoption of financial innovation and technologies in the region’s financial sector. They will jointly host the fourth FinTech Abu Dhabi Festival (FinTech Abu Dhabi), to be held from November 24 to 26.
The event will bring together international and local thought leaders and policy-makers, financial and technology institutions, fintech startups, unicorns,investors, academia and innovators. The event will offer a deep-dive into trending topics and business issues that will shape the digital economy of the future.
The FinTech Abu Dhabi partnership reinforces the ongoing national focus - and efforts in the financial sector and further accelerates the introduction of financial innovations and related technologies to better serve the UAE and the wider MENA region, the CBUAE said in a statement.
“ADGM’s goals 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,” said Abdulhamid Saeed, Governor of the Central Bank.
Through the establishment of the CBUAE FinTech Office, the regulator aims to create a tech-friendly environment to facilitate fintech innovations in the UAE.
The central bank has developed a fintech strategy that comprises of fivepillars. These 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; (iv) formulation of a fintech talent development programme; and (v) building a cross-border partnership model with key overseas regulatory authorities and stakeholders.
The event will be held in the Abu Dhabi National Exhibition Centre (ADNEC).
ADGM and CBUAE will monitor the COVID-19 situation as they look to ensure the "safety of attendees, speakers, sponsors and exhibitors".