The MoU will allow the two parties to share and exchange key knowledge as well as consult and collaborate on building an innovative and competitive environment for Islamic finance.
Al Hilal Bank has partnered with the Abu Dhabi Global Market (ADGM), aimed to promote Islamic finance in Abu Dhabi and across the UAE.
span>The agreement will enable Al Hilal Bank to work closely with Financial Services Regulatory Authority (FSRA) in the development of Islamic products.
span>Richard Teng, CEO, Financial Services Regulatory Authority of ADGM, said, “Together, we can grow and strengthen Islamic banking offerings and the financial landscape in Abu Dhabi.”
Additionally, Al Hilal Bank and ADGM will collaborate on the development and application of technologies specifically designed to address real business challenges including mobile and e-banking, digital value-added services as well as blockchain, APIs and automation.
ADGM holds a critically important role in expanding the UAE’s global reach and it is our pleasure to embrace this mutually beneficial partnership, added Alex Coelho, CEO of Al Hilal Bank.