The Dubai International Financial Center, the leading financial center in the Middle East, Africa and South Asia, and which has the largest and most advanced financial technology system in the region, announced that it has entered into an agreement with Bank Hapoalim, one of the largest banks in Israel, which is a public banking institution listed in The Tel Aviv Stock Exchange works in the field of corporate and individual banking services, with the aim of discovering and taking advantage of a wide range of mutually beneficial opportunities.
The agreement announced today will allow the Dubai International Financial Center to increase its positive impact in enhancing the opportunities for the growth of the UAE economy, as well as increasing the contribution of the finance and innovation sectors to it. Additionally, it will support the vision of the DIFC to lead the future of the financial sector from Dubai. Bank Hapoalim will become part of the global network that the financial center establishes with banks, financial centers, regulators and companies working to bring about positive changes in the financial and technological sectors, by adopting the highest legal, regulatory and operational standards.
This alliance allows the establishment of the first regional presence for Bank Hapoalim outside Israel to take advantage of banking opportunities and innovation in the Middle East, Africa and South Asia, within the framework of the common conviction between the DIFC and Bank Hapoalim of the importance of exchanging knowledge, hosting delegations and promoting the establishment of relevant business events. Investment and financial technology experts from Bank Hapoalim will be invited to participate in exclusive events such as the highly anticipated Investor Day organized by the “Fintech Hive” program of the DIFC.
Commenting on the agreement, Arif Amiri, Chief Executive Officer of the DIFC Authority, said: “The DIFC, a leader in the Middle East, Africa and South Asia region, is pleased to welcome Bank Hapoalim as a global partner. Our partnership with the Bank provides access to our most advanced, widespread and integrated financial system in the region, and allows them to benefit from banking, capital markets, asset management, innovation and fintech opportunities available.
He added, “We hope that this agreement will open an ideal joint opportunity to accelerate the agenda for the future of the financial sector and stimulate innovation through the” Innovation Hub “platform in the Dubai International Financial Center.
For his part, Dov Kotler, CEO of Bank Hapoalim said: The agreement signed with the Dubai International Financial Center is a milestone, as we hope to serve, expand and strengthen the financial relations between the UAE and Israel, and this agreement will enable Israeli entrepreneurs in the field of financial technology to benefit from The dynamic and vibrant system that Dubai enjoys, which helps promote innovation across borders, which is at the core of the agreements that were signed only a few months ago, and it is a great honor to be the first Israeli bank to build this important bridge to innovation.
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