Abu Dhabi Global Market (ADGM) and non-profit organisation Responsible Finance & Investment Foundation (RFI) have teamed up to foster responsible finance practices and support the growth of Shari’ah compliant fintech firms.

Under the partnership, ADGM and RFI will exchange knowledge and highlight emerging fintech trends, as well as work together to enhance the fintech ecosystem started by ADGM for the MENA region.

At the same time, the two parties will collaborate to help investors, fintech entrepreneurs and innovative firms test and launch innovative products and services under the ADGM Reglab programme.

ADGM Financial Services Regulatory Authority CEO Richard Teng said: “This partnership and collaboration with RFI Foundation feeds well into ADGM’s mandate of maintaining a conducive financial environment that nurtures innovation, promotes market transparency and trust, and encourages sustainable growth and stability.

“We look forward to working closely with the RFI team to develop joint initiatives and programmes to capture new business opportunities and augment our FinTech efforts in the region and globally.”

RFI CEO Blake Goud added: “We are optimistic that this partnership with ADGM, building on the regulatory environment they have created in Abu Dhabi, can encourage and support emerging FinTech companies to adopt ethical, responsible and Islamic approaches.”

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