UAE Central Bank to launch FinTech coordination authority in a few months

      Published on Tuesday, 5 November , 2019      150 Views     
UAE Central Bank to launch FinTech coordination authority in a few months


The United Arab Emirates’ central bank will establish a FinTech Office ‘in the near future’ to support financial innovation in the banking sector in coordination with other national authorities, its governor said on Sunday.

“The aim of the FinTech Office will be to position the Central Bank as the coordinating authority, as the author of prudential market conduct regulatory requirements, and as an enabler and facilitator of FinTech activities in the UAE,” Mubarak Rashid Al- Mansouri, told the Middle East Banking Forum in Abu Dhabi.





In the UAE, there are several stakeholders developing fintech initiatives, including Abu Dhabi Global Market (ADGM), Dubai International Financial Centre (DIFC), and Emirates Securities and Commodities Authority (ESCA).

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Category Business, Technology | 2019/11/05 latest update at 7:44 PM
Source : Zawya | Photocredit :
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