More than 40 countries to be represented at FinTech Abu Dhabi Festival this year

Event to welcome three times more participants comprising leading policy and decision-makers

Fintech Abu Dhabi's physical event will take place at Abu Dhabi Global Market. Mona Al Marzooqi / The National

Global finance leaders from 41 countries will be participating at the fifth edition of the FinTech Abu Dhabi Festival, which will address the rapid pace of transformation across the financial services sector and drive inclusion.

The online event, which starts on Tuesday, will be hosted by Abu Dhabi Global Market, and has garnered strong interest, with three times more registrations and participants, comprising leading policy and decision makers, FinTech innovators, financial sector leaders, investors and start-up unicorns, with a valuation of $1 billion or more.

"Continued knowledge-sharing on how best to address and embrace these changes is crucial," Ahmed Jasim Al Zaabi, chairman of ADGM, said on Sunday. This year's event will be underpinned by a "commitment to highlight Abu Dhabi as a global capital for financial innovation, investment, and regulatory excellence", he added.

FinTech is one of the most active sectors in finance, with start-ups attracting a significant amount of investments from both local and regional organisations. The continued growth of digital payments services presents a huge opportunity for more services in the market.

In the Middle East, one out of every four investment deals in 2021 was in FinTech, which accounted for roughly a third of all the funding raised – $2.1 billion in 220 deals – according to a report by consultancy firm RedSeer.

On Sunday, VentureSouq, the UAE-based investment company focused on early stage technology businesses, unveiled a $50 million venture fund that is aimed at the FinTech sector. The programme is being backed by Abu Dhabi's Mubadala Investment Company and DisruptAD.

The fifth such event will feature more than 200 speakers sharing their views on shaping the global FinTech landscape. Fourteen sector-specific forums will be held, including on digital currencies, sustainability, retail and financial security, as well as investor and government forums, challenges and awards.

The event will also, for the first time, host the chief executives and chairmen of major financial institutions, as well as the founders of some of the world’s most promising start-ups.

Mr Al Zaabi will be among the speakers, including Mohammed Ali Al Shorafa Al Hammadi, chairman of the Abu Dhabi Department of Economic Development, Abdulrahman Al Hamidy, director general chairman of the Arab Monetary Fund's board, Mohamed Alabbar, founder and managing director of Emaar Properties. and Jeff Sprecher, founder of the Intercontinental Exchange and chairman of the New York Stock Exchange.

The chief executives of First Abu Dhabi Bank, Abu Dhabi Islamic Bank, Commercial Bank of Dubai and Standard Chartered will also be speaking at the forum.

The Fintech Abu Dhabi Festival will run until November 24 and its physical event will be held at ADGM.