With a view to broaden access to global innovative ideas and experiences in the financial sector

SCA Joins Global Financial Innovation Network

As a part of its efforts to achieve its strategic objectives in the field of innovation, theSecurities & Commodities Authority (SCA) has been announced as a member of the Global Financial Innovation Network (GFIN), which includes 50 leading global regulatory institutions and entities in the field of innovation in the financial sector.

By joining GFIN, the SCA seeks to maximize the role of innovation and creative methods in promoting the securities sector in the State in a manner strengthening its competitiveness, participate in innovative projects and learn about the best experiences and practices provided by the GFIN members in this field. This matter would benefit the financial sector in the State in terms of financial markets, companies and investors.

On its part, the GFIN aims at creating a new framework for cooperation among regulators of the financial services regarding innovation-related subjects and exchanging different experiences and approaches. The GFIN provides a forum and platform for the joint action for cooperation, exchange of knowledge and discussion of learned lessons, along with providing entities with an experimental environment in which cross-border solutions can be tried.

It is worth mentioning that the GFIN is working to broaden access to new ideas and experiences in all countries of the world. Joining the GFIN would provide an opportunity to be aware of the results of testing products, services or business samples at more than one regulatory authority.