Hollywood and Bollywood stars cheered for their favourite racers over the weekend
entertainment1 hour ago
Abu Dhabi Global Market (ADGM) on Monday launched a new initiative called digital sandbox, bringing together financial institutions and FinTech innovators to join hands to experiment on products and solutions in a digital platform environment.
A statement issued on Monday explained that digital sandbox will provide a marketplace for open collaboration between financial institutions, Fintech firms, and regulators to facilitate testing and adoption of innovative digital financial products and services that can benefit the industry in the region.
It also allows financial institutions to source and procure Fintech solutions locally and globally, run tests digitally on the platform, and adopt and orchestrate the best ones that meet their business needs.
In this way, Fintech firms to offer their innovative solutions to international market players, and tap cross-border market access and opportunities to grow and scale their business. Participants in the UAE and regional markets to connect with other international markets and vice versa.
Richard Teng, CEO of ADGM's Financial Services Regulatory Authority, said the objective of the digital sandbox is to help financial institutions to build deep digital capabilities to tap market opportunities, and promote financial inclusion through innovative technologies to better cater to the underserved population in the Mena region. Meanwhile, ADGM and Department of Economic Development (DED) in Abu Dhabi on Monday signed a cooperation agreement to provide more integrated support for innovators and technology enterprises across various key industries.
The new partnership will serve to enhance the innovation and technology ecosystem in Abu Dhabi particularly and the UAE in general, encouraging the growth of small and medium enterprises.
The agreement was signed by Saif Mohamed Al Hajeri, Chairman of the DED, and Ahmed Al Sayegh, Chairman of ADGM, at the FinTech Abu Dhabi Summit 2018.
Al Hajeri said that innovation has become a focal point in Abu Dhabi's plans, programmes and initiatives due to its vital role in building a knowledge-based economy and transforming new and transformative ideas into economic value promoting economic growth and development locally and nationally. - waheedabbas@khaleejtimes.com
Hollywood and Bollywood stars cheered for their favourite racers over the weekend
entertainment1 hour ago
Video clips posted on social media showed a giant cauliflower-shaped grey mass of smoke billowing above Kanlaon's crater
asia1 hour ago
The company which produces 'Milaf Cola' aims to diversify date-based products locally and for exporting purposes
mena1 hour ago
Hazlewood missed the 10-wicket win over India in Adelaide on Sunday with the latest in a series of side strains that have blighted his career
cricket1 hour ago
The Globes, set for January 5, are widely seen as a bellwether for the Academy Awards
entertainment2 hours ago
They have become the most valuable movie memorabilia ever sold at auction
entertainment2 hours ago
All other pre-existing lotteries will not be considered for continued operations
uae2 hours ago
Rohit hinted Shami could still play a part in the remainder of the five-Test series in Australia
cricket2 hours ago