Arab Monetary Fund joins Dubai FinTech Summit

By Arya M Nair, Official Reporter
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AMF joins Dubai FinTech Summit
Rep.Image | Courtesy: AMF

Arab Monetary Fund (AMF) has joined the Dubai FinTech Summit (DFS), organized by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a strategic partner.

Founded in 1977, AMF is a regional Arab organization with 22 member countries. With an objective to strengthen economic, financial, and monetary stability, it aims to promote economic development in Arab countries.

AMF will be hosting the Eleventh Meeting for the Arab Regional FinTech WG on 5-6 May 2024 followed by a workshop on Formulation of Effective SupTech Frameworks on 7 May 2024. Both events will take place within the Dubai FinTech Summit at Madinat Jumeirah, Dubai.

Digitalization in finance delivers enhanced services and reduces financial crime and fraud, leading supervisory authorities to employ innovative technologies such as artificial intelligence (AI) and machine learning (ML) to fulfill their mandates. Against such a background, the pace of adopting SupTech is accelerating in the Arab region, with various initiatives underway, highlighting the need to strengthen institutional capacity on these issues.

Using real-world case studies and best practices, the one-day workshop on Formulation of Effective SupTech Frameworks aims to catalyze the integration of innovative technologies and data science into supervisory processes to meet enduring and emerging challenges in the rapidly changing financial landscape.

It will equip representatives from Arab central banks and other financial supervisory authorities with practical inputs for successfully implementing a comprehensive SupTech strategy while addressing related risks and challenges.

In line with the D33 Agenda to position Dubai as the top four global financial hubs by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The Dubai FinTech Summit, scheduled for 6-7 May 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies.

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