Hong Kong inks fintech deal with Dubai

It aims to facilitate financial innovation between the two markets.

The Hong Kong Monetary Authority and the Dubai Financial Services Authority entered into a cooperation agreement on December 7 to ramp up fintech collaboration between the two markets.

According to a press release, the deal will allow the two authorities to collaborate on referrals of innovative businesses, information sharing and joint projects.

"The Co-operation Agreement with DFSA showcases our efforts to work with the international Fintech community to facilitate the healthy development of the Fintech ecosystem. The HKMA will continue to explore potential collaboration opportunities with other authorities to support the upgrading of our banking system towards the higher level of smart banking," said HKMA Executive Director Mr Li Shu Pui.