27/11/2017 07:41 AST
Abu Dhabi Global Market (ADGM) and Al Fardan Exchange, have entered into a co-operation partnership to develop and support the FinTech ecosystem in the UAE.
The Memorandum of Understanding was signed recently by Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority, FSRA, of ADGM, and Osama Al Rahma, CEO of Al Fardan Exchange.
The new partnership will enable ADGM and Al Fardan Exchange to collaborate on initiatives to promote and develop innovative FinTech solutions that focus on more efficient delivery for money services, as well as solutions that enhance the overall customer experience.
Commenting on the signing of the MoU, Teng said, “We are pleased to welcome Al Fardan Exchange as a new partner in our efforts to enhance the FinTech ecosystem in Abu Dhabi. Home-grown players such as Al Fardan Exchange are vital stakeholders and contributors to the sustainable growth of the FinTech industry, adding to the vibrancy of the community. There is much to be done and we look forward to working closely with the Al Fardan Exchange team to expand the FinTech offerings and infrastructure in Abu Dhabi, the UAE and greater Mena region. “
The CEO of Al Fardan Exchange, said, “It is a great pleasure to be associated with ADGM and we are sure that this collaboration will be mutually beneficial for both organisations as well as the FinTech ecosystem in Abu Dhabi and the UAE. We always look for ways to add value to the payment industry at regional and global level and offer additional facilities to the communities.”
Richard Teng, CEO of FSRA of ADGM said, “We are pleased to welcome Al Fardan Exchange as a new partner in our efforts to enhance the FinTech ecosystem in Abu Dhabi. Home-grown players such as Al Fardan Exchange are vital stakeholders and contributors to the sustainable growth of the FinTech industry, adding to the vibrancy of the community. There is much to be done and we look forward to working closely with the Al Fardan Exchange team to expand the FinTech offerings and infrastructure in Abu Dhabi, the UAE and greater Mena region. “
Al Fardan Exchange is one of the oldest and most established names in the UAE remittance market, and an industry pioneer in the UAE. We have been serving our communities with remittance, exchange and financial services for over 45 years.
We were present before the UAE was formed, and have grown with the nation, supporting the UAE in its social and economic success story.
Al Fardan Exchange is a member of the Al Fardan Group, which has roots stretching back to 1954. The Group has diversified business interests under its umbrella, and has successful operations in real estate, high-end jewellery, financial services and trading.
Abu Dhabi Global Market (ADGM), an international financial centre located in the capital city of the United Arab Emirates, opened for business on Oct.21, 2015.
In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.
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