Last Sunday, March 17, 2019, the United Arab Emirates Banks Federation (UBF) and the Abu Dhabi Global Market (ADGM) came together to host a crypto asset and financial technology forum. The event was held at the Abu Dhabi Global Market, bringing together a number of industry specialists. According to Coin Telegraph, the session aimed to tackle challenges and opportunities present in the field of financial technology as well as cryptocurrency and assets.
UBF is considered a non-profit organization which speaks for 50 banks operating in the United Arab Emirates. Meanwhile, Coin Telegraph mentions that ADGM is the international finance hub located in the heart of the city.
The Need for Unity
According to Chepicap, the United Arab Emirates Banks Foundation Chairman, Abdul Aziz Al-Ghurair, views the event as essential to honing and further developing techniques and technologies that are helpful to the field of fintech. In addition, Coin Telegraph notes the UBF chairman stating that the development of such processes and systems would help regulate and organize the fintech developments coming their way.
Based on the report released by WAM, the Emirates news agency, various topics surrounding the field were discussed. Here, the Abu Dhabi Global Market’s regulatory processes and standards were put into the spotlight. Other topics that were also discussed revolved around supervising digital and crypto assets as well as exploring devices and technologies which can improve close inspections when it comes to financial transactions, notes WAM.
The talks conducted in this event aim to innovate and change the financial sector in the country. According to WAM, the collaborative efforts of these two giants in the industry is crucial to provide a seamless and successful operating system for the country.
Other key speakers present at the event were Hanan Mansour and Richard Teng.