FinTech Abu Dhabi begins today amid growing demand for digital payments and other financial technology services in the wake of the coronavirus pandemic.
A number of senior officials, bankers and investors including the governor of the central bank of the UAE Abdulhamid Alahmadi and Ahmed Al Sayegh, minister of state and chairman of Abu Dhabi Global Market will speak at the event, which is being held online this year due to the pandemic. Invite-only presentations were made on Tuesday, but the public event begins today.
“The FinTech Abu Dhabi Festival provides a glimpse into the future of the financial services industry by showcasing the innovative and creative developments of the industry in the past year,” Mr Alahmadi, said. “These developments have underlined the power technology harnesses in improving the way we conduct business. We are also beginning to witness the emergence of unicorn start-ups in the UAE, further reinforcing the UAE’s position as a leading FinTech destination.”
Abdul Aziz Al Ghurair, chairman of the UAE Banks Federation, Vanessa Colella, chief innovation officer at Citigroup, Edward Knight, vice chairman of Nasdaq and Nadya Hijazi, global head of digital at HSBC will also speak during the event.
“Our goal is to continuously develop a mature ecosystem that encourages entrepreneurship and creativity in the FinTech space, by leveraging pragmatic lessons and best practices provided by our peers from around the globe,” Mr Alahmadi said. “This is part of our broader vision to establish the UAE as an international hub for financial sector innovation and growth.”
Abu Dhabi is investing in start-ups to grow the innovation ecosystem in the capital as part of a broader economic diversification strategy. The government last year established Hub71, an international technology hub at ADGM and is channelling investments in start-ups through a Dh535 million ventures fund.
Demand for digital payments and other financial technology services has surged worldwide as more people use online banking services to transfer money as well as pay for purchases amid the coronavirus pandemic.
Amir Yaron, governor of Bank of Israel, will give a keynote speech on the “promise and potential of financial tech and innovation in bridging Israel and the Middle East", during the event.
Israel and the UAE have normalised relations following the signing of the Abraham Accord in Washington DC in September.
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More Expo 2020 Dubai pavilions:
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
PREMIER LEAGUE RESULTS
Bournemouth 1 Manchester City 2
Watford 0 Brighton and Hove Albion 0
Newcastle United 3 West Ham United 0
Huddersfield Town 0 Southampton 0
Crystal Palace 0 Swansea City 2
Manchester United 2 Leicester City 0
West Bromwich Albion 1 Stoke City 1
Chelsea 2 Everton 0
Tottenham Hotspur 1 Burnley 1
Liverpool 4 Arsenal 0
Cinco in numbers
Dh3.7 million
The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown
46
The number, in kilograms, that Swarovski’s wedding gown weighed.
1,000
The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]
50
How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday
3,000
The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.
1.1 million
The number of followers that Michael Cinco’s Instagram account has garnered.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Williams at Wimbledon
Venus Williams - 5 titles (2000, 2001, 2005, 2007 and 2008)
Serena Williams - 7 titles (2002, 2003, 2009, 2010, 2012, 2015 and 2016)
Zayed Sustainability Prize
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Most F1 world titles
7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)
7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)
5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)
4 — Alain Prost (1985, ’86, ’89, ’93)
4 — Sebastian Vettel (2010, ’11, ’12, ’13)
