Abu Dhabi Crown Prince approves launch of FIDA cluster

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved the launch of the FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster, announced at the Abu Dhabi Finance Week.

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved the launch of the FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster in Abu Dhabi.

The cluster, an initiative spearheaded by Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO), aims to advance the next generation of innovative financial and investment solutions.

By 2045, the cluster is projected to contribute an additional AED56 billion to Abu Dhabi’s gross domestic product (GDP) and generate 8,000 new skilled jobs.

It also aims to attract at least AED17 billion in investment, aligned with the emirate’s wider economic diversification agenda.

Sheikh Khaled affirmed that the launch of the FIDA cluster represents a strategic step towards building an integrated global financial ecosystem that harnesses capital, innovation, advanced technologies and AI solutions.

He emphasised the significance of continuing to develop innovative economic infrastructure to further attract investors, startups and entrepreneurs in advanced fintech, aligning with the UAE leadership’s directives to advance sustainable economic growth.

FIDA brings together a comprehensive partner ecosystem that spans regulation, financing, infrastructure, innovation and talent development.

Regulatory oversight is led by the Ministry of Finance, Central Bank of the UAE, ADGM and the Securities and Commodities Authority, which will collaborate to ensure cohesive and future-ready financial governance.