News

Abu Dhabi and Hong Kong sign fintech regulatory agreement

FintechAbu Dhabi Global Market (ADGM), the emirate’s international financial centre, has signed a cooperation agreement with the Hong Kong Monetary Authority (HKMA) to jointly promote their respective fintech sectors. The alliance will allow the HKMA and the ADGM’s Financial Services Regulatory Authority to refer fintech businesses to each other’s markets, engage in greater information sharing and explore mutually beneficial projects, according to the two bodies. One such potential project is a cross-border trade finance network using distributed ledger technology, according to HKMA chief fintech officer Nelson Chow. It is ADGM’s eleventh such fintech agreement with international regulators. The signing also coincides with the news that total trade between the UAE and Hong Kong reached $10.87 billion in 2017, up from $10.59 billion in 2016. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.