The Central Bank of the UAE has announced the launch of the CBUAE FinTech Office during FinTech Abu Dhabi 2020, Which aims to develop a mature FinTech ecosystem within the UAE and position the nation as a foremost FinTech hub regionally and globally.
The CBUAE FinTech Office will be working hand in hand with the industry and regulatory authorities to embrace innovation and digital transformation whilst promoting a culture of robust risk management, adding that it will also try to attract international and regional FinTech companies.
H.E. Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE, said:
“The UAE is no longer on the fringes of the global FinTech revolution but moving toward the center of it. At the CBUAE, we have played a proactive role to build a mature FinTech ecosystem in the country.”
H.E. Alahmadi added:
“We are proud to contribute to several of the UAE’s national objectives through the establishment of our FinTech Office as it is a pivotal element of the strategy for advanced innovation. This Office will allow us to accelerate the transformation of digital payments and support financial inclusion. In addition, the CBUAE FinTech Office is mandated to execute the UAE’s FinTech Strategy which is centered on innovation and collaboration.”
