Financial services, Technology

ADGM enlists UAE telcos to boost digital innovation in finance sector

Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding with Emirates Telecommunications Group Company, Etisalat, and Emirates Integrated Telecommunications Company, EITC, Du to deploy and showcase innovative solutions and integrated services to transform the digital offerings of information and communications technology and related services across Al Maryah Island.

The deal with Etisalat was signed between Sultan Al Dhaheri, General Manager of Etisalat Abu Dhabi; and Khalid Al Suwaidi, Chief Operating Officer of ADGM; and witnessed by Saif Mohamed Al Hajeri, Chairman of the Department of Economic Development; and Ahmed Al Sayegh, Chairman of ADGM.

The agreement with du was signed by Osman Sultan, CEO of EITC; and Khalid Al Suwaidi.

The MoU between ADGM and Etisalat formally establishes a framework where Etisalat will provide innovative and integrated telecommunications service offerings catering to ADGM’s registered firms and entities. This will also facilitate further exploration and development of Etisalat’s research facilities and programmes focusing on various areas, including FinTech, blockchain and cyber security.

As part of the partnership, Etisalat will pilot appropriate products and services on ADGM’s financial freezone on Al Maryah Island before opening up to the wider community in the UAE.

Etisalat’s Al Dhaheri, said, “Today Etisalat’s digital initiatives are manifested through our diverse product portfolio, digital experience, network modernisation keeping in line with our strategy and vision to ‘’Drive the Digital Future to Empower Societies’. We are proud to be partnering with ADGM to foster the digital ecosystem, stimulate technological innovation, and provide innovative solutions and smart services catering to ADGM’s registered firms and entities and community in Al Maryah Island.”

Du and ADGM will jointly explore appropriate business opportunities and collaborations in areas of communications, technology infrastructure, innovation platforms, pilot projects, digital services that cater to the evolving needs of ADGM’s registered firms and community set up in Al Maryah Island.

“One of our key objectives at du, is to strengthen our partnerships both on the public and the private sectors to enable the digital transformation of innovative technologies in the UAE,” said Sultan from du. “Our strategic alliance with Abu Dhabi Global Market is a reflection of the confidence and trust reposed in our brand du, in undertaking the digital and ICT transformation agenda across all sectors. The mandate, will provide du the opportunity to collaborate in the development of bespoke mission critical solutions and innovative experiential services that will propel ADMC with a defining competitive digital advantage.”

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