UAE: Abu Dhabi Global Market participates in Singapore FinTech Festival
Source: Middle East Insurance Review | Dec 2016
The Abu Dhabi Global Market (ADGM) team, comprising Mr Richard Teng, CEO of the Financial Services Regulatory Authority (FSRA) and senior management from the Capital Markets, Human Resources and Strategy & Business Affairs departments, travelled to Singapore last month to attend the FinTech Festival activities and relevant business meetings. ADGM also hosted the Abu Dhabi pavilion at the FinTech Exhibition, alongside other dedicated country pavilions such as Japan and India.
ADGM’s participation at the Singapore FinTech Festival came on the heels of the launch of the ADGM FinTech Regulatory Laboratory (RegLab) in early November. The ADGM RegLab is the first of its kind regulatory regime in the MENA region that provides a controlled environment for innovative FinTech solutions to be developed and tested. It is part of ADGM’s commitment to develop Abu Dhabi as the FinTech hub in the region. Global FinTech participants and investors met with the ADGM FinTech team to learn more about the ADGM Reglab and how it can support FinTech innovation.
The Singapore FinTech Festival was designed to bring together the global FinTech community to exchange knowledge and discover the latest and newest in FinTech innovation. The FinTech exhibition saw over 10,000 attendees from central banking, asset management, risk management, regulatory compliance, venture capitalists, start-ups and many others from over 45 countries.
Mr Teng said: “ADGM is excited to participate in the Singapore FinTech Festival and happy to be able to play a part in supporting the global FinTech ecosystem through this event. Since the launch of our Reglab and framework, we have received positive feedback and support from Abu Dhabi entities and global FinTech players. This event provides an opportunity for ADGM to raise greater awareness of Abu Dhabi’s financial services forte and economy.”