ADGM Forms Ties With Israel Securities Authority for Fintech Agreement

ADGM Forms Ties With Israel Securities Authority for Fintech Agreement

by 23. November 2020

The Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA) and the Israel Securities Authority (ISA) have entered into a fintech cooperation agreement.

The agreement provides a framework for information sharing as well as facilitating the movement of startups, knowledge, and talent between the two jurisdictions.

With this new partnership, the ADGM FSRA and the ISA will undertake initiatives to promote economic growth in financial services through the adoption of new technology and the strengthening of their respective fintech sectors.

Richard Teng, Chief Executive Officer of the ADGM Financial Services Regulatory Authority FSRA fintech agreement

Richard Teng

“Following the signature of the historic Abraham Accords, we are excited to enter this FinTech Cooperation Agreement with the ISA”

said Richard Teng, Chief Executive Officer of the ADGM Financial Services Regulatory Authority.

“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. I look forward to working closely with our partner to bring forward a more connected, collaborative network to meet the demands of our growing fintech ecosystem.”

The agreement will allow for the exchange of information on trends, services and products, as well as facilitate the collaborative development of fintech initiatives between the ADGM FSRA and the ISA.

Both jurisdictions will also engage in professional knowledge transfer activities, accelerator programmes and the promotion of the development of relevant technologies, such as digital payments and blockchain.

The agreement will also afford fintech startups the ability to access information from the respective jurisdictions through one common point of contact.

The partnership with the ISA further expands ADGM’s network of fintech collaborations, which currently stretch over 5 continents.

 

Featured image credit: Edited from ADGM

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