Gulf Business: The Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA) has signed a fintech cooperation agreement with the Israel Securities Authority (ISA) on Wednesday, November 18.
The agreement provides a framework for information sharing, and for facilitating the movement of startups, and transfer of knowledge and talent between the two jurisdictions.
With this new partnership, the ADGM FSRA and the ISA will promote economic growth in financial services through the adoption of new technology and by strengthening their respective fintech sectors.
The agreement will facilitate the exchange of information on trends, services and products, as well as encourage collaborative development of fintech initiatives between the ADGM FSRA and the ISA.
Both jurisdictions will also engage in accelerator programmes and the development of technologies including digital payments and blockchain, which are fundamental elements to the growth of the fintech sector.
Also, startups operating within the fintech space within the two jurisdictions will have a common point of contact when they seek to access information or work on collaborations.
“Following the signature of the historic Abraham Accords, we are excited to enter this fintech Cooperation Agreement with the ISA,” said Richard Teng, CEO of the ADGM FSRA.
“From our close discussions with the Israel Securities Authority, in particular during the FinTech Abu Dhabi Festival, it is clear that both authorities value the importance of collaboration and mutual support.”