ADGM, Al Fardan Exchange partner to foster UAE’s fintech ecosystem

ABU DHABI / WAM

Abu Dhabi Global Market (ADGM) and Al Fardan Exchange, have entered into a
cooperation partnership to develop and support the FinTech ecosystem in the UAE.
The Memorandum of Understanding (MoU) was signed 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 initia- tives to promote and develop innovative FinTech solutions that focus on more efficient delivery for money services, as well as solutions that enhance 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.”