HSBC, Europe's largest lender, is joining The Abu Dhabi Global Market Digital Lab, a platform for financial institutions and FinTech firms to collaborate, test and develop solutions for the financial services sector.
New solutions will be developed in a controlled environment supervised by the ADGM's Financial Services Regulatory Authority, HSBC said in a statement on Tuesday.
“HSBC is developing and deploying some of the industry’s most advanced and innovative technology to make banking easier and more secure,” said Antoine Maurel, head of markets and securities services, CEEMEA (Central and Eastern Europe, Middle East and Africa) at HSBC.
“We are keen to explore and test new cost-effective solutions such as API (application programming interface) and middleware-enabled solutions that could connect our systems with FinTechs and other technology providers.”
This month, regulators of banks and financial free zones in the UAE jointly issued guidelines to help financial institutions safely adopt enabling technologies as the coronavirus pandemic hastens digitisation.
The guidelines were issued by the Central Bank of the UAE, the Securities and Commodities Authority, the Dubai Financial Services Authority of the Dubai International Financial Centre, and the Financial Services Regulatory Authority of Abu Dhabi Global Market.
The guidelines set out best practices for financial institutions when adopting enabling technologies such as application programming interfaces, which allow FinTechs to work with banks’ software; Big Data analytics; artificial intelligence; biometrics; cloud computing and distributed ledger technology.
ADGM aims to grow its digital lab community to 300 entities by late 2022, from 90 at present, according to its chairman Ahmed Al Zaabi.
HSBC reported a 76 per cent surge in its third-quarter profit after the lender released provisions that were earmarked for bad loans that did not materialise.
Pre-tax profit for the quarter to the end of September rose to $5.4 billion, from $3.1bn in the year-earlier period, the bank said in October.
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham v Ajax, Tuesday, 11pm (UAE).
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Games on BeIN Sports
Notable salonnières of the Middle East through history
Al Khasan (Okaz, Saudi Arabia)
Tamadir bint Amr Al Harith, known simply as Al Khasan, was a poet from Najd famed for elegies, earning great renown for the eulogy of her brothers Mu’awiyah and Sakhr, both killed in tribal wars. Although not a salonnière, this prestigious 7th century poet fostered a culture of literary criticism and could be found standing in the souq of Okaz and reciting her poetry, publicly pronouncing her views and inviting others to join in the debate on scholarship. She later converted to Islam.
Maryana Marrash (Aleppo)
A poet and writer, Marrash helped revive the tradition of the salon and was an active part of the Nadha movement, or Arab Renaissance. Born to an established family in Aleppo in Ottoman Syria in 1848, Marrash was educated at missionary schools in Aleppo and Beirut at a time when many women did not receive an education. After touring Europe, she began to host salons where writers played chess and cards, competed in the art of poetry, and discussed literature and politics. An accomplished singer and canon player, music and dancing were a part of these evenings.
Princess Nazil Fadil (Cairo)
Princess Nazil Fadil gathered religious, literary and political elite together at her Cairo palace, although she stopped short of inviting women. The princess, a niece of Khedive Ismail, believed that Egypt’s situation could only be solved through education and she donated her own property to help fund the first modern Egyptian University in Cairo.
Mayy Ziyadah (Cairo)
Ziyadah was the first to entertain both men and women at her Cairo salon, founded in 1913. The writer, poet, public speaker and critic, her writing explored language, religious identity, language, nationalism and hierarchy. Born in Nazareth, Palestine, to a Lebanese father and Palestinian mother, her salon was open to different social classes and earned comparisons with souq of where Al Khansa herself once recited.
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Imperial%20Island%3A%20A%20History%20of%20Empire%20in%20Modern%20Britain
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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
Mubadala World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
Zidane's managerial achievements
La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017
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