Abu Dhabi International Market, Abu Dhabi's International Financial Center, has signed a memorandum of understanding with OneConnect Financial Technology to promote and develop the innovations of financial technology and enhance market opportunities that will support and connect economies across the Belt and Road initiative and the Middle East and North Africa region.

As part of Ping An Group, one of the largest financial institutions in the world by market value, One Connected is a leading provider of advanced business applications and solutions that support technology for financial institutions. The areas of AI, large data analyzes and Block Qin to support the digital transformation of the financial services sector.

"The Abu Dhabi Global Market is committed to supporting the growth and development of the ecosystems of financial technology and innovation by strengthening the framework of cooperation with the sector and the regulatory community concerned," said Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority, Abu Dhabi Global Market. "Based on our position as an international financial center, And a center for financial technology in the Middle East. On the other hand, strengthening communication and partnerships with key stakeholders such as One Connect will enable the financial technology community in the Middle East and North Africa region to take advantage of opportunities in the MEP And the development of digital capabilities that accelerate the adoption and deployment of innovations in financial technology in the region. "

"We look forward to building stronger synergies between the Abu Dhabi Global Market and One Connect in developing multilateral technology platforms that support our ecosystem of financial technology, as well as opening up more international trade opportunities between China and the UAE and countries on the initiative track. Belt and Road ".

"With the company's strong potential in the technology sector, we have been able to provide technology solutions and services to the financial sector with all its subsidiary competencies," said Hwang Ranzhong, chief financial officer of One Connect. One Connected "continues to expand globally, establishing its business in East Asia and Japan.
We value our partnerships with financial institutions and regulators, especially those we have established with the Abu Dhabi Global Market, which is characterized by its dynamic regulatory infrastructure that meets the needs of the market and its initiatives in the field of financial technology. In the future we look forward to expanding the Middle East and North Africa region through the Abu Dhabi Global Market platform, enabling us to support more financial institutions in the world and support the development of the financial sector in the region.

Under the MoU, One Connected Financial Technology and the Abu Dhabi Global Market will help the Chinese financial technology community to benefit from the Abu Dhabi Global Market as a platform to develop, test and launch financial technology products and services in the Middle East and North Africa (MENA) Belt and road. "The two sides will also jointly develop and implement joint creative projects using artificial intelligence techniques, Qin Block, Distributed Ledger, API, and other emerging technologies.