Dubai International Financial Centre’s FinTech Hive, one of the region’s leading financial technology accelerators, said on Saturday that it had signed a deal with Israel’s FinTech-Aviv to step up co-operation and help member companies expand their operations.
The two FinTech hubs will work together in areas such as talent development and events, in addition to also providing referrals to member companies keen to expand into the jurisdiction of each.
“Like Dubai, Israel is well regarded for its approach to innovation and embracing FinTech, so it is important to collaborate now to share knowledge and develop the sector further,” said Raja Al Mazrouei, executive vice president of DIFC FinTech Hive.
“DIFC is now home to more than 240 FinTech-related [companies] and the opportunities for growth are endless.”
The UAE, which normalised relations with Israel by signing the Abraham Accord in September this year, has signed a number of pacts with the country in sectors ranging from aviation to finance.
The Emirates is specifically looking to tap into Israel’s expertise in financial technology, with both countries aiming to establish a “FinTech corridor”, Minister of State and Abu Dhabi Global Market chairman Ahmed Al Sayegh said during FinTech Abu Dhabi.
Earlier this month, the DIFC and the ADGM signed separate agreements with Israel’s largest lender Bank Hapoalim to jointly develop local FinTech ecosystems and explore market opportunities between the two countries.
The ADGM and Bank Hapoalim will collaborate on initiatives to develop business, international trade and financial services between the UAE and Israel.
Meanwhile, the DIFC and the Israeli lender will share knowledge and collaborate on industry events to foster cross-border innovation.
The ADGM Financial Services Regulatory Authority also signed a deal with the Israel Securities Authority to increase co-operation and promote the FinTech industry.
The pact provides a framework for information sharing and will allow the movement of start-ups, knowledge and talent between the two jurisdictions, ADGM’s regulatory authority said last week.
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THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
THE 12 BREAKAWAY CLUBS
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
