(MENAFN - Emirates News Agency (WAM))
ABU DHABI, 3rd October, 2017 (WAM) -- Abu Dhabi Global Market, ADGM, the International Financial Centre in Abu Dhabi, was honoured to host the exclusive visit of His Royal Highness Prince Andrew, The Duke of York, on Al Maryah Island today. His Royal Highness was welcomed by Ahmed Al Sayegh, ADGM Chairman, along with the CEOs of the ADGM Authorities.
The Duke of York is currently visiting Abu Dhabi to host events related to Pitch@Palace UAE, a global initiative which helps and connects entrepreneurs and early stage business with potential supporters. The visit provided Prince Andrew with an opportunity to learn about role and contribution of ADGM as an International Finance Centre in the financial development and growth of Abu Dhabi and the UAE.
The Duke was briefed by Al Sayegh on ADGM's global achievements and innovative initiatives that have positively transformed and shaped the financial services offerings and landscape in Abu Dhabi and the region in the two years of its inception. He also met with Linda Fitz-Alan, Registrar and CEO of the ADGM Courts, Ms. Natella Safar Ali, Director of the Registration Authority, and Richard Teng, CEO of the Financial Services Regulatory Authority, to hear about the financial framework and judicial regimes offered and managing Al Maryah Island as Abu Dhabi's designated financial free zone.
The CEOs shared with Prince Andrew the various ADGM initiatives that have provided the regional markets with widened access to capital-raising, business opportunities and ushered in new growth potentials to Abu Dhabi. These included several "firsts" in the region, including a private REIT regime, a calibrated Venture Capital framework for fund managers, an Aviation financing regime, and the ADGM Regulatory Laboratory, RegLab, for FinTech firms.
ADGM was also ranked as the Top MENA FinTech Hub by Deloitte in April 2017 for its achievements in FinTech. With its innovative suite of corporate vehicles and well-regulated environment, ADGM is also an influencing platform for structuring international investments into the Middle East, Africa and Central Asia region.
Speaking on the occasion, Ahmed Al Sayegh said, "It is our honour to welcome His Royal Highness to Abu Dhabi Global Market and Al Maryah Island today. We were delighted to have an opportunity to tell The Duke of York about our purpose and mandate of ADGM as an International Financial Centre and its oversight over the growth and development of Al Maryah Island as the newest and state-of-the-art financial free zone in this region. We are privileged to share with His Royal Highness the several bold and innovative initiatives that ADGM has introduced in the two years to unlock the business opportunities and transform the financial landscape in this region. ADGM will continue to nurture its close network and business relations with the British community globally."
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