Reflecting on Announcements from Abu Dhabi Finance Week Highlights: AI, Crypto, and Regulatory Insights

Post by: Elena Malik

Abu Dhabi Finance Week (ADFW) 2024 started on 9 December under the leadership of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council. The event, which ended on 12 December, was very successful and had many important announcements.

This year, more than 18,000 people came to Abu Dhabi Finance Week. Over 600 speakers took part, and there were more than 180 different sessions. The event grew even bigger than last year, with over 60 special events. Some of the main events were Asset Abu Dhabi, RESOLVE, Fintech Abu Dhabi, and the Abu Dhabi Sustainable Finance Forum.

Last year, more than 40 important announcements were made during ADFW, and this year, there were even more exciting ones. One of the first announcements came from Ahmed Jasim Al Zaabi, a member of Abu Dhabi’s Executive Council and chairman of Abu Dhabi Global Market (ADGM). He spoke to the crowd about Abu Dhabi’s economy, which he called the “Falcon Economy.” He said that Abu Dhabi is a strong and trusted partner for businesses and investors. He also invited people from all around the world to help build a better future in Abu Dhabi, filled with trust, growth, and opportunity.

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One of the main parts of the event was Fintech Abu Dhabi, which came back for its eighth year in 2024. This event brought together leaders in technology, banking, and investment. The main topics were payments, digital security, and digital assets. It showed the world that Abu Dhabi is becoming an important place for financial innovation and technology.

ADGM also showed some important changes to its rules and regulations at Fintech Abu Dhabi. These changes included new rules for digital assets and guidance for managing technology risks. Emmanuel Givanakis, who is the CEO of the Financial Services Regulatory Authority (FSRA) at ADGM, explained that these changes show how Abu Dhabi is always working to stay ahead of changes in the financial world.

Another important event was the Global Financial Regulators Summit. This meeting brought together leaders from financial organizations all over the world. They talked about how new technology, like artificial intelligence, is changing finance. They discussed how to use this technology in a safe and smart way to protect customers and keep markets honest.

At the event, ADGM also announced that they would be creating a new Insurance Association. This will help grow the insurance industry in Abu Dhabi and the whole UAE. The Insurance Association will bring together people who work in insurance to talk about new ideas and help the industry grow.

ADGM also signed an agreement with the Beijing Financial Street Service Bureau. This agreement will help Abu Dhabi and China work together in business and help their industries grow. This partnership is important for both regions to share ideas and grow their economies.

In the world of cryptocurrency, Circle Internet Group Inc. and Binance announced they would work together. They plan to make USDC, a type of stablecoin, available to more people around the world. A stablecoin is a type of cryptocurrency that is tied to the value of a real-world currency like the US dollar. This partnership will help make cryptocurrency more useful to people and businesses all over the world.

Hub71, Abu Dhabi’s global tech hub, also announced some exciting new projects. They introduced the Angel Investor Support Package, which will help people who want to invest in startups. The package includes financial incentives, office space, and support services to help investors and startups grow. This will help encourage more people to invest in new businesses.

Lastly, Hub71 introduced Hub71+ AI, a new platform to help startups that work with artificial intelligence (AI). This platform will give AI startups the tools, advice, and help they need to grow and succeed. This shows Abu Dhabi’s commitment to becoming a global leader in AI and technology, helping new businesses in many different fields.

In conclusion, Abu Dhabi Finance Week 2024 showed how Abu Dhabi is committed to growth, new ideas, and connecting with people all over the world in areas like finance, insurance, technology, and investment. The event made important announcements that will help shape the future of these industries and support their growth.

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