Abu Dhabi International Market (ADGM), the main Worldwide Monetary Centre within the capital of the UAE , and Bank Hapoalim have introduced a brand new partnership promote and develop monetary expertise (FinTech) innovation, ecosystems, and market alternatives.
Picture Credit score: ADGM
Abu Dhabi: Abu Dhabi International Market (ADGM), the main Worldwide Monetary Centre within the capital of the UAE , and Bank Hapoalim have introduced a brand new partnership with the signing of a Memorandum of Understanding (MOU) to collectively promote and develop monetary expertise (FinTech) innovation, ecosystems, and market alternatives.
The brand new settlement will help the digital transformation of the monetary providers panorama and join the economies within the UAE and Israel.
Based nearly 100 years in the past, Bank Hapoalim is Israel’s most important and main monetary establishment. The bank is a family model for client and company lending and resides over one of many largest retail department community within the nation.
“We are pleased to embark on a new era in the Middle East region to enable greater business and FinTech developments and foster beneficial technology collaborations and participation among ADGM, Abu Dhabi and Israel. ADGM is continuously working with strategic partners, locally and internationally, to further the Abu Dhabi and UAE’s economic plans and technology agenda,” stated Dhaher bin Dhaher Al AlMheiri, CEO of the ADGM Registration Authority.
As a part of the MoU, ADGM and Bank Hapoalim will collaborate on a variety of FinTech-related initiatives and innovation initiatives, together with the event of FinTech options to facilitate worldwide commerce, enterprise and monetary providers actions between the UAE and Israel, in addition to the help of FinTech corporations and entrepreneurs in search of to scale their presence and deployment throughout the UAE and Israeli markets.
“The agreement signed this morning with Abu Dhabi Global Market is a breakthrough pact that we hope will serve to extend and strengthen the financial corporation between the UAE and Israel. It will enable FinTech companies, customers of Bank Hapoalim, access to a new world of opportunities. It is a great honour to be the first bank to sign such an agreement that will contribute to the establishment of the relationship between our two countries and economies,” stated Dov Kotler, CEO of Bank Hapoalim
Kotler shall be talking on the upcoming FinTech Abu Dhabi Competition, and expounding additional on the alternatives and potential of the MOU in bridging the FinTech ecosystems between the UAE and Israel.