Dubai International Financial Centre (DIFC), has entered into an agreement with Bank Hapoalim, one of Israel’s largest banks.
The agreement creates a framework for both organisations to forge cooperation across various financial services.
Under the pact, Bank Hapoalim will become part of DIFC’s global network of banks, financial centres, regulators and companies that are disrupting the financial and technology sectors and embracing the highest legal, regulatory and operating standards.
The alliance will enable Bank Hapoalim to access banking and innovation opportunities in the Middle East, Africa and South Asia through the DIFC platform.
Both parties will work together by sharing knowledge, hosting delegations and promoting industry events.
Investment and FinTech specialists from Bank Hapoalim will be invited to participate in exclusive events such as the forthcoming DIFC FinTech Hive Investor Day.
Commenting on the agreement, Arif Amiri, Chief Executive Officer of DIFC Authority said: “DIFC, the Middle East, Africa and South Asia’s leading financial centre, is pleased to welcome Bank Hapoalim as a global partner. Our partnership provides Bank Hapoalim with access to the most developed, broad and deep financial ecosystem in the region, allowing them to capitalise on the most lucrative banking, capital markets, asset management, innovation and FinTech opportunities available.
Dov Kotler, CEO of Bank Hapoalim said: “The agreement signed with Dubai International Financial Centre is an important milestone. We hope to serve, extend and strengthen the financial relationship between our two countries. It will provide Israeli FinTech entrepreneurs with a gateway to the dynamic and vibrant Dubai ecosystem, and help foster cross-border innovation. It is an honour to be the first Israeli bank to construct this important bridge for innovation.”