The tenant is a high-net-worth European family who is returning to live and work in the emirate after a stay abroad
realty1 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
The tenant is a high-net-worth European family who is returning to live and work in the emirate after a stay abroad
realty1 hour ago
Cinematic and Box Office Achievement in Motion Pictures and Best Performance in Stand-Up Comedy on Television are the two new awards categories
entertainment1 hour ago
Conference showcased Daikin’s vision for the future, culminating in a spectacular drone show over Dubai’s skyline
supplements1 hour ago
Forty-two per cent of the total aid provided to the Palestinian territory came from the UAE, data shows
uae2 hours ago
Bestselling writer and businessman, Robert Kiyosaki, whose teachings have become a cornerstone of financial literacy, on how Gen-Z can avoid repeating the financial mistakes of previous generations
books2 hours ago
The move comes after the government raised concerns over extremely low prices on the online marketplace and their impact on local producers
asia2 hours ago
The Indian actor-turned-entrepreneur has recently launched her hair extensions brand in Al Seef
entertainment2 hours ago
The vehicle has an elevated seat for Francis, so crowds have a better chance of seeing the pope
europe3 hours ago