The HKMA and the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) have signed a Memorandum of Understanding (MoU) to enhance cooperation in fintech. The MoU aims to promote inclusive and innovative financial services by leveraging fintech and data in both markets. The authorities will explore joint projects, including connecting the HKMA’s Commercial Data Interchange to the ADGM’s SME Financing Platform and facilitating cross-border data exchange for improved cross-border banking services. The collaboration aims to foster financial innovation and empower SMEs in both jurisdictions.
Resource: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/11/20231122-3/
