Abu Dhabi: Abu Dhabi Global Market (ADGM), the leading international financial center in the UAE capital, and Bank Hapoalim have announced a new partnership with the signing of a Memorandum of Understanding (MOU) to promote joint financial technology and develop (FinTech) innovation, ecosystems and market opportunities.
The new agreement will support the digital transformation of the financial services landscape and connect the economies in the UAE and Israel.
Bank Hapoalim was established almost 100 years ago and is the most important and leading financial institution of Israel. The bank is a domestic brand for consumer and corporate loans and is established in one of the largest retail networks in the country.
“We are pleased to embark on a new era in the Middle East to enable greater business and FinTech developments and to promote beneficial technological cooperation and participation between ADGM, Abu Dhabi and Israel. ADGM is constantly working with strategic partners, locally and internationally, to advance the economic plans and technological agenda of Abu Dhabi and the UAE, ”said Dhaher bin Dhaher Al AlMheiri, CEO of the ADGM Registration Authority.
As part of the MoU, ADGM and Bank Hapoalim will collaborate on a range of FinTech-related initiatives and innovation projects, including the development of FinTech solutions to facilitate international trade, business and financial services activities between the UAE and Israel, as well as support. of FinTech enterprises and entrepreneurs seeking to increase their presence and deployment in the United Arab Emirates and Israeli markets.
‘The agreement signed this morning with Abu Dhabi Global Market is a breakthrough pact that will serve our hopes of expanding and strengthening the financial venture between the UAE and Israel. This will give FinTech companies, customers of Bank Hapoalim, access to a new world of opportunities. It is a great honor to be the first bank to sign such an agreement that will contribute to the establishment of the relationship between our two countries and economies, ”said Dov Kotler, CEO of Bank Hapoalim.
Kotler will speak at the upcoming FinTech Abu Dhabi Festival and further live out the opportunities and potential of the MOU to bridge the FinTech ecosystems between the UAE and Israel.
Source: Gulf News