Khalid bin Mohammed bin Zayed approves the launch of the Financial Technologies, Insurance, Digital and Alternative Assets Complex in Abu Dhabi

ABU DHABI, 8 December, 2018 (WAM) – His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council of the Emirate of Abu Dhabi, approved the launch of the Financial Technology, Insurance, Digital and Alternative Assets (FIDA) Complex in Abu Dhabi. With the aim of developing a new generation of innovative financial and investment solutions.

The complex, which is led by the Department of Economic Development – Abu Dhabi and the Abu Dhabi Investment Office and was announced during the activities of Abu Dhabi Financial Week 2025, aims to develop an integrated and advanced financial system in the emirate and provide innovative financial solutions that meet the needs of the local, regional and global economy. The complex is expected to contribute to adding about 56 billion dirhams to the gross domestic product of the Emirate of Abu Dhabi, attract investments worth 17 billion dirhams, and provide… 8,000 job opportunities by 2045, supporting economic diversification efforts at the emirate level.

His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan stressed that the launch of the Technology Park represents an advanced strategic step to build an integrated global financial system that employs capital, innovation, modern technologies and artificial intelligence solutions to create a more flexible and competitive economic environment in the fields of financial technologies, investment and the digital economy, thus enhancing the leadership of the Emirate of Abu Dhabi in these vital sectors at the regional and international levels.

His Highness also stressed the importance of continuing to develop innovative economic infrastructure to attract more investors, emerging companies and entrepreneurs in the fields of advanced financial technologies, in line with the directives of the wise leadership to advance sustainable economic growth.

On this occasion, His Excellency Ahmed Jassim Al Zaabi, Chairman of the Department of Economic Development – Abu Dhabi, said: “Abu Dhabi’s economic strategy is based on long-term plans and the development of a world-class integrated system that combines capital, talent and innovation. The launch of the complex for financial technologies, insurance, digital and alternative assets represents an essential investment in the future. By coordinating efforts between regulatory authorities, sovereign wealth funds, financial institutions and innovators, the complex contributes to shaping and strengthening the future of finance, thus consolidating Abu Dhabi’s position as a capital.” for capital.

For his part, His Excellency Badr Salim Sultan Al Olama, Director General of the Abu Dhabi Investment Office, said: “The launch of the Financial Technology, Insurance, and Digital and Alternative Assets (FIDA) Complex represents an important step that enhances Abu Dhabi’s leadership in the global financial and investment sector, as the complex will contribute to building a financial system that combines innovative solutions, digital and financial technologies, investments, and advanced regulatory frameworks, thus consolidating Abu Dhabi’s position as a global destination for investments and investors.”

The complex provides the main foundations for a group of integrated programs that aim to build a comprehensive and advanced financial and investment system, and its strategy is based on developing an institutional infrastructure for digital assets and advanced financial technology platforms that keep pace with the highest standards and regulatory frameworks to become global standards for other financial systems.

The complex will also contribute to directing sustainable financing towards strategic sectors in Abu Dhabi, in line with the emirate’s commitment to achieving the goals of climate neutrality and supporting the development of green financing tools to attract capital interested in environmental, social and institutional governance standards.

The complex provides a supportive financial infrastructure for the main economic complexes in Abu Dhabi, including the Food and Water Availability Development Park (AGWA), the Health, Medicine and Fitness for Sustainable Living Park (HELM), and the Smart and Self-Driving Vehicles Industry Park (SAVI), to contribute to enabling innovative companies across various sectors to access appropriate financing, manage risks efficiently, and expand their business with confidence and effectiveness.

The complex also expands access to various sources of financing, including alternative lending, risky debt financing, and providing targeted capital solutions to enhance economic growth, with the aim of supporting small and medium enterprises, which represent 42% of the non-oil GDP of the Emirate of Abu Dhabi.

Dedicated infrastructure for private equity, venture capital, real estate investment trusts and other alternative assets will also serve institutional investors who meet specific conditions and requirements.

The complex will contribute to strengthening the capabilities of the insurance and reinsurance sectors in a way that supports the growing economy and makes the emirate a center for risk management solutions. It will also provide the possibility of providing protected savings solutions for UAE national and resident investors, developing long-term savings solutions, and developing world-class frameworks for planning for retirement.

The complex includes a system of comprehensive partnerships that cover the areas of regulation, finance, infrastructure, innovation, and competency development. The Ministry of Finance, the Central Bank of the United Arab Emirates, the Abu Dhabi Global Market, and the Securities and Commodities Authority are responsible for regulatory supervision and work together to ensure integrated financial governance to keep pace with future requirements.

Financing entities and partnerships include the Khalifa Fund for Enterprise Development, along with a number of sovereign wealth funds and family companies, enhancing access to joint investment and financing opportunities.

At the level of physical and digital infrastructure, the Abu Dhabi Retirement Fund, the Etihad Payments Company, the Khalifa Fund for Enterprise Development, the General Pension and Social Security Authority, the Etihad Export Credit Company, and the Etihad Credit Information Company will cooperate to provide advanced solutions for payments, pensions, credit and insurance.

A specialized network in the fields of innovation, research and development, which includes HUB71, Khalifa University, the United Arab Emirates University, the Emirates Institute for Financial Studies, and the Abu Dhabi Global Market Academy, will lead efforts to strengthen partnerships between the public and private sectors in areas such as digital assets, artificial intelligence, advanced analytics, and financial infrastructure, ensuring that advanced research is transformed into commercial solutions and services.

The necessary skills will also be developed in tracks such as risk management sciences, financial technology engineering, quantitative finance, and other related disciplines.

It is noteworthy that the Emirate of Abu Dhabi, which is known globally as the “Capital Capital,” has a strong financial base based on more than $1.8 trillion managed by sovereign wealth funds and world-class regulatory frameworks.

The emirate also enjoys the support of a wide network of agreements to prevent double taxation, protect investments, and comprehensive trade agreements with a number of countries, which allows companies operating within the complex of financial technologies, insurance, digital and alternative assets to access the most prominent global markets in Europe, North America and Asia.

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