UAE Ministry of Finance Holds Discussions on Fintech, Regtech and PPPs for Healthcare

The Ministry of Finance (MoF) held today two open dialogue sessions titled ‘Fintech and Regtech: Revolutionizing Compliance and Promoting Financial Inclusion’, and ‘Partners in care: PPPs for better Healthcare’. The sessions took place on the sidelines of the Sixth World Government Summit currently being held in Dubai.

Commenting on the importance of holdAing such dialogues, HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs said: “The Ministry is always keen to address issues of public interest, specifically topics related to the Fintech industry. These emerging technologies are transforming the financial services landscape, and support the digital economy and revolution.”

HE Al Tayer added: “Public-private partnerships in healthcare are also important instruments in providing methods of development to enhance the quality of heathcare services.”

Ross Leco, Deputy General Counsel, Legal Affairs Department, International Monetary Fund introduced the session on Fintech and Regtech. Panellists included HE Mubarak Rashid Al Mansoori, Governor of the UAE Central Bank; HE Essa Kazim, Governor of the Dubai International Financial Center (DIFC); HE Ahmed Ali Al Sayegh, Chairman of the Abu Dhabi Global Market (ADGM); Nick Cook, Head of RegTech and Advanced Analytics at the U.K. Financial Conduct Authority (FCA); Greg Medcraft, Director of the Directorate for Financial and Enterprise Affairs, OECD; Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore (MAS); Michael Gronager, CEO and Founder of Chainalysis; Julie Monaco, Managing Director, Global Head Public Sector Group, Citi; and Marco Santori, Partner at Cooley LPP.

The session discussed developments in emerging technologies such as artificial intelligence, distributed computing. These technologies are transforming the financial services landscape and are creating opportunities for greater financial inclusion, and are facilitating and improving regulatory compliance

The session on the Public-private partnerships (PPPs) in healthcare witnessed the participation of Dr. Tedros Adhanom Ghebreyesus, Director General of the World Health Organisation (WHO); HE Ghassan Hasbani, Vice Prime Minister and Health Minister, Lebanon; Dr. Shamsheer Vayalil, Founder and Managing Director of VPS Healthcare; Hartwig Schafer, Vice President, Global Themes, World Bank; and Madeline Bell, President and CEO of the Children’s Hospital of Philadelphia (CHOP).

During the session, members reviewed the best partnerships models between the sectors, in light of the significant achievements by the healthcare systems, particularly in developing professional standards and regulations, providing funds and increasing investments flow in the sector. The session also revolved around prospective sustainable investments in order to achieve a higher quality of healthcare.