Our mission trip to the United Arab Emirates (UAE), covering both Abu Dhabi and Dubai, has concluded, and we are returning with valuable insights and new opportunities for collaboration.

In Abu Dhabi, we engaged with key financial institutions at the Abu Dhabi Global Market (ADGM), which is shaping the future of finance with progressive regulations and a thriving ecosystem. ADGM offers 100% foreign ownership, 0% corporate tax, and a regulatory framework that balances innovation with security. The discussions with ADGM’s FinTech team highlighted their focus on tech and data governance, applied innovation, ecosystem development, and special projects. We also explored ADGM’s RegLab sandbox, launched in 2016, which allows FinTech startups to experiment and innovate in a controlled environment.

Our visit also included interactions with entities like the Abu Dhabi Investment Office (ADIO), which is driving investments in FinTech and RegTech, and AirCarbon Exchange (ACX), which has become a leader in carbon trading after relocating to Abu Dhabi.

Hub71, Abu Dhabi’s tech ecosystem, stood out for its robust support for startups and innovation, while discussions with First Abu Dhabi Bank (FAB) opened up avenues for collaboration in financial services and technology.

In Dubai, our journey continued with insightful meetings and sessions at the Virtual Assets Regulatory Authority (VARA), the world’s first independent virtual assets regulator. VARA is driving the UAE’s status as a global hub for virtual assets, following a recent agreement with the Securities and Commodities Authority (SCA) to unify frameworks in this sector. At Emirates NBD, we learned about their focus on increasing automation and innovation, culminating in the signing of an MoU to foster ongoing collaboration.

We also explored Dubai’s economic landscape through interactions with the Department of Economy and Tourism (DET), Dubai International Financial Centre (DIFC), and Commercial Bank of Dubai (CBD), all committed to fostering growth and technological advancement in the region.

The trip provided an opportunity for SFA delegates to engage with leaders across the UAE’s dynamic financial sector. From networking events like FinTech Tuesdays to discussions about AI, Web3, and sustainability at the DIFC Innovation Hub, our mission trip has laid the foundation for future collaborations.

As we wrap up this successful journey, we look forward to leveraging these connections and insights to enhance FinTech innovation and growth between the UAE and Southeast Asia. Stay tuned for more exciting mission trips ahead!