The signed agreement between the two groups provide to improve as well as making provision for better data or information sharing, as well as support for facilitation of the drive of the start-ups as well as transference of the skilled acquired talent and knowledge pool.
On Wednesday, November 18th, the Abu Dhabi’s Global Markets Financial Services Regulatory Authority (ADGM FSRA) in tandem with Israel Securities Authority (ISA) had jointly and mutually agreed to have signed a FinTech Cooperation Agreement that delivers a better framework backed with better data/information sharing, facilitation of better movement of the Start-ups, as well as the mutual conscious cooperation for allocation of knowledge and talent pool between the two jurisdictions.
The both jurisdictions in tandem will also be fruitful for engagement of accelerator programmes as well as better development channel of the technologies that would as well include the digitalized funding, investment, access for digital payments, as well as blockchain, that will serve as core elements for the expansion of the evolving FinTech Arena.
The Start-Ups as well that are operational under prevailing FinTech space within both jurisdictions, will have a mutual contact point that they can avail to have an access towards the data as well as operating based on collaboration. With this mutual cohesive partnership, both the jurisdictions the ADGM FSRA as well as ISA will be instrumental for promotion of better economic expansion within the financial services via adoption of latest technology, as well as in bolstering their respective FinTech Centres, thereby, provisioning the access for exchange of data knowledge pool on trends, services and merchandise, as well as in boosting the collaborative progress of diversified FinTech initiatives between both the parties viz the ADGM FSRA and the ISA.
The CEO of the ADGM FSRA board, Richard Teng further addressed that, “the development took place in pursuit with signature of the momentous Abraham Accords, they are excited to work out this fintech Cooperation Agreement alongside the ISA in joint partnership.
From their handy discussions with the Israel Securities Authority, in particular throughout the FinTech Abu Dhabi Festival, it is obvious scenario that both authorities value the vitality of collaboration as well as the mutual support.”