Maqta Gateway, ADGM launch FinTech innovators platform

ABU DHABI, Maqta Gateway, an Abu Dhabi Ports subsidiary, and Abu Dhabi Global Market, ADGM, signed a Memorandum of Understanding on Monday to collaborate on innovation projects, technologies and knowledge transfer. The signing took place on the side-lines of the FinTech Abu Dhabi 2018.

The agreement aims to spur economic growth, creative thinking and entrepreneurism through setting up a platform from which FinTech innovator firms can test and launch products, services and business solutions within a regulated environment.

Both entities will exchange expertise and partner for joint innovation projects to develop and apply technologies in the areas of digital and mobile payments, blockchain and distributed ledgers, flexible platforms (API), among others. The partnership further entails establishing knowledge transfer programmes, facilitating the sourcing of project partners or sponsors and helping FinTech entrepreneurs on understanding commercial or regulatory requirements in relation to their business activities.

Captain Mohamed Juma Al Shamisi, the Group CEO of Abu Dhabi Ports, said, “Abu Dhabi Ports has heavily invested in top-tier technological innovations and digital capabilities to play a leading role in driving economic growth in Abu Dhabi. We are delighted to cooperate with Abu Dhabi Global Market to achieve Abu Dhabi Vision 2030 by supporting FinTech companies. This agreement allows us to benefit creative individuals and institutions, through inspiring and aiding entrepreneurial ventures.

“Through this partnership, we will work together on initiatives that will encourage innovation within FinTech ecosystems in the UAE and the region,” he added.

Dr. Noura Al Dhaheri, CEO of Maqta Gateway, expressed her optimism, saying; “Through combining our respective resources and expertise, ADGM and Maqta Gateway will better be able to support entrepreneurs and innovators studying and developing emerging technologies and innovative solutions to contribute to the economic development of the UAE. Our company is characterised by its innovative and technological solutions, and through our partnership with ADGM’s Financial Services Regulatory Authority, FSRA, we to support and enhance the digital community and innovators.”

Richard Teng, CEO of FSRA at ADGM, said, “We are excited to be partnering with Maqta Gateway and the Abu Dhabi Ports, to support innovation and initiatives that serve the commerce and trading in Abu Dhabi and the wider UAE economy. International trade supports the growth of SMEs and corporations. Maqta Gateway is a natural partner in our efforts to provide our SME and entrepreneurial community with greater access to trade finance and growth opportunities. As an IFC and financial regulator, we will continue to collaborate with like-minded partners to support the growth of the FinTech and business communities locally and globally.”

Source: Emirates News Agency