Joining me now is Fatima Al Hamadi, the head of the FinTech Insurance Digital and Alternative Assets Cluster, or FIDA.
Thank you so much for stopping by.
Thank you, Patricia, for having me.
This is so exciting.
I mean, this was just announced, this initiative.
Tell us about it.
Sure, so FIA is Abu Dhabi's financial service cluster.
It covers fintech, insurance, digital, and alternative assets.
It connects regulators, fintech innovators, R&D partners, global investors into one unified system so all of them can work under one umbrella.
And with FIA we have 5 strategic segments that we are focusing on to reshape the financial Abu Dhabi financial landscape, which is also the key drivers for the global financial sectors, and they are, we are focused on fintech.
And digital assets including digital payment, fintech solutions, embedded embedded finance, tokenization, and alongside that we prioritize insurance and pension where it includes specialized insurance, reinsurance hub, a long term portability and pension where we want to retain talent and to create capital for Abu Dhabi.
We also focus on assets and wealth management.
The aim is to attract alternative investment, family offices, and global managers to grow their assets under management from Abu Dhabi and the scale to the rest of the world.
And another focus area is ESG transition and and and the green financing.
So the focus here in climate finance structure and the green transition and ESG verification.
And finally we are supporting SMEs financing, including debt, equity, and alternative capital where where we have channels to connect SMEs with investors for to scale.
And the growth from Abu Dhabi.
Ah, very comprehensive.
So how will this position Abu Dhabi as a global leader in digital assets?
Sure, so Faida sits with the clear strategic outcomes that align with Abu Dhabi's long-term economic vision.
You know, Abu Dhabi is capital of capital with a clear regulatory environment and a great interest from the global, many global institutional leaders to be part of this ecosystem.
By 2045, FDA will contribute 56 billion dirham to direct GDP, attract at least 17 billion dirham in investment anchored in Abu Dhabi, and generate 1000 jobs across fintech, ESG advisory, asset management, and others, and become a launchpad for become a launchpad for fintech and digital.
Asset companies and create regulatory framework that serves UAE nationals, institutional companies, and the global partners as well.
Oh wow, that sounds very exciting.
We're looking forward to following FTA's progress.
Thank you so much.
Thank you, Patricia.
