MOF Announces Strategic Partnership With Finovate Middle East

Middle East

The Ministry of Finance (MoF) announced its strategic partnership with the second edition of Finovate Middle East, a pioneering event in FinTech innovation, taking place in the United Arab Emirates on 20 and 21 November at the Ritz Carlton Hotel, DIFC. This partnership and event will bolster the UAE’s standing as a global FinTech destination.

The event will see more than 400 participants from leading FinTech companies, media leaders, financial service providers and regional and global financiers. Additionally, it will bring together more than 60 local and international speakers from countries such as Austria, Bahrain, Canada, Croatia, Egypt, Italy, Malaysia, Poland, Singapore, South American countries, Spain, the United Kingdom, the United States of America, as well as the United Arab Emirates, to deliberate the investment opportunities in innovation and FinTech.

H.E. Younis Haji Al Khoori, Undersecretary of MoF, highlighted the UAE’s role in building an advanced infrastructure that enables the banking sector in the country to keep pace with the digital revolution and embrace the latest technology, in order to provide integrated and simplified digital banking services.

H.E. said: “The Ministry of Finance is keen to foster a culture of innovation by encouraging and launching initiatives, strategies and programs that support innovation. This is in line with our commitment to contribute to the goals of the National Strategy for Advanced Innovation and the UAE Vision 2021, and to implement the government’s vision to progress the UAE towards an innovative knowledge-based economy.”

The aim of this year’s event is to deliberate the best international practices in FinTech, as well as the latest solutions in artificial intelligence, robotics, blockchain and more. The event will also address three key themes that focus on how the Middle East is embracing digital transformation, making it more receptive to innovations in financial technology, and enabling FinTechs to succeed in the region.

Topics that will be discussed at this year’s session include, ways for the banking sector in the region to cope with technological developments and the digital revolution, the proposed solutions to the financing challenges facing the authorities that seek to adopt modern financial technology, ways to undertake initiatives aimed at achieving greater financial inclusion, and the importance of a legislative system that keeps pace with technological developments.

Finovate Middle East is one of the world’s leading financial innovation events, and is organized in major cities around the world, including New York, San Francisco, Berlin, Singapore and Dubai. The Ministry of Finance was a strategic partner for the first edition of the Finovate Middle East event in 2018, as well.

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