Abu dhabi: The Central Bank of the United Arab Emirates (CBUAE) and Presight have announced the launch of a joint venture aimed at supporting the Financial Infrastructure Transformation programme (FIT) initiated by the CBUAE. This partnership is a significant step in the UAE's efforts to integrate artificial intelligence into its financial ecosystem.
According to Emirates News Agency, the signing ceremony was attended by key figures, including Khaled Mohamed Balama, Governor of the CBUAE, and Mansoor Ibrahim Al Mansoori, Vice Chairman of Presight. Ebrahim Obaid Al Zaabi of the CBUAE and Thomas Pramotedham of Presight signed the agreement.
The joint venture will provide AI-powered technological platforms to enhance the UAE's financial market infrastructure. It will focus on developing and maintaining essential financial systems such as the Central Bank Digital Currency infrastructure and the Real-Time Gross Settlement system.
Ebrahim Al Zaabi emphasized the strategic importance of the collaboration, highlighting its role in ensuring the resilience and efficiency of the financial sector. Pramotedham noted that the venture will drive innovation and resilience in the UAE's financial infrastructure.
