Arab Regional Fintech Working Group
The Arab Regional Fintech Working Group brings together specialists and experts from the public and private sectors in Arab countries, alongside representatives of regional and international financial institutions, service providers, and leading organizations in the fintech sector. The Working Group provides a platform for consultation, knowledge sharing, and the exchange of expertise, with the aim of developing common perspectives on advancing and regulating financial technologies across Arab countries.
Through the exchange of knowledge and experience, the Working Group supports fintech development and innovation, helping Arab authorities adopt and regulate financial technologies in line with their national strategies and priorities. It also strengthens the capacities of supervisory and regulatory authorities and facilitates cooperation between Arab and international experts from the public and private sectors.
The Working Group addresses a broad range of fintech-related topics, including blockchain technology, big data, artificial intelligence, cyber threats and risks, cryptocurrencies, central bank digital currencies, digital financial services, electronic payment services, and the supervisory and regulatory frameworks governing financial technologies.
The Working Group meets twice a year, making use of opportunities presented by conferences and workshops held across Arab countries.
Technical Advisory Group
The Technical Advisory Group comprises representatives of Arab central banks and monetary authorities, alongside regional and international experts. It supports capacity building and knowledge sharing on the technical aspects of financial innovation.
Its activities include examining distributed ledger technology (DLT) and blockchain, open banking and payment services, and monitoring developments in central bank digital currencies (CBDCs) to assess their implications for financial stability and monetary policy.
Members
The Working Group comprises representatives of supervisory, regulatory, and financial authorities in Arab countries, including central banks, monetary authorities, ministries of finance, capital market authorities, and anti-money laundering and counter-terrorist financing units, alongside financial and banking institutions, their associations, and financial technology and service providers.
Its membership also includes representatives of regional and international financial institutions and development agencies, organizations supporting start-ups, research centers, universities, and international fintech companies.
Regulatory Advisory Group
The Regulatory Advisory Group comprises representatives of Arab central banks and monetary authorities, alongside regional and international experts. It contributes to the development of regulatory frameworks that support the adoption of financial technologies across Arab countries.
Its activities include proposing guidelines on crowdfunding, customer due diligence and electronic Know Your Customer (e-KYC) procedures, distributed ledger technology (DLT) and blockchain, asset tokenization, and cybersecurity.