Under the patronage of His Highness Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of the Executive Council of the Emirate of Abu Dhabi, the activities of the fourth edition of the “Fintech Abu Dhabi” festival will be launched virtually and will continue until November 26, with the participation of senior government officials, executives, businessmen, leaders of the financial technology sector and innovators.
Mohammed Jawad Shallouh, Director of the Department and a member of the Financial Technology Committee at the Abu Dhabi Global Market, and the official spokesman for the Fintech Abu Dhabi Festival, said that within five years of its establishment, the Abu Dhabi Market had succeeded in attracting international business and investment companies, which contributed to strengthening the emirate’s reputation as an international center. And contribute to achieving economic diversification of the emirate.
Shalouh added to “Al-Bayan Al-Eqtisad” that the Abu Dhabi Global Market is working according to well-thought-out strategic plans to enhance its position as an integrated financial center in the region, adopting best practices and applying international standards to ensure attracting investors from all over the world.
Pointing out that the financial sector is one of the important factors in economic growth in Abu Dhabi, so the market always seeks to increase the number of companies registered in the market, which increased from 1,300 at the end of 2018 to 2,400 by the end of 2019, reaching more than 2,930 companies. Currently, it has grown over 125.4% in two years.
Shallowh explained that the Abu Dhabi Global Market will continue through the “Fintech Abu Dhabi” festival, which will be launched for this year today, along with other initiatives, to enhance its business environment, in a way that attracts more companies and entrepreneurs from the country and the region to choose the market.
The market is based on consolidating and building close working relationships, creating converging areas for joint cooperation, with the most prominent financial centers and bodies in the world, and strengthening cooperation with all the emirates of the country and neighboring countries, to facilitate the transactions of companies registered in the market.
Entrepreneurs
He stated that the market launched the “Fintech Abu Dhabi” festival, in a move to provide a platform for cooperation that brings together thought and business leaders from all over the world, policy makers, financial and technological institutions, investors and academics, to discuss issues that will shape the digital economy in the future.
Pointing out that through the successful launch of this event, the Abu Dhabi Global Market has cemented its position and position Abu Dhabi as a preferred destination for emerging and more innovative companies, and for advanced institutions in the technological field.
The Director of the Administration and a member of the Financial Technology Committee in the Abu Dhabi Global Market added that, since its inception in 2017, Fintech Abu Dhabi has contributed to providing pioneering initiatives that support the growth of emerging companies and provide them and major companies in the Middle East and North Africa with a platform to display and exchange knowledge. And expertise in technology and financial services.
He mentioned that «Fintech Abu Dhabi» provides a platform for major global leading companies in the field of financial technology, to exchange knowledge and experiences.
Fintech 100
Muhammad Shallouh mentioned that the best startups have been invited to join the “Fintech 100” program, and global tours are scheduled to continue until the end of this month. The research tours include many cities around the world, including: Germany, Denmark, Luxembourg, the United Kingdom, Bulgaria, Sweden, Switzerland, the Emirates and Jordan. And North America.
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