Risk4 0 A Welcome from ADGM

Your excellencies, ladies and gentlemen, good evening. I would say today we are toward almost 70% of the activities and events in the Abu Dhabi finance week and uh the numbers of the registrations uh who are on these areas almost 31,000 registered names companies out of those 31,000 we have 5,000 companies What's the interesting thing is the capital that is managed by those companies worth almost $62 trillion. 62 means more than 50% of the world GDP. So that shows the wealth that shows the heavy weight of this event and the financial sector of this event. Now when we talk about the uh the the the number uh uh the worth of the 62 the financial aspect of it usually moves side by side with the technology.

So you always see technology associated with the finance. That's why we refer to it few years ago as a fintech. So when it comes to technology, this is maybe the the the time the time that where we see the move and the speed of the development in both technology and the financial sectors moving the fastest ever that we've seen in our lives. But usually when we talk about technology we talk about threats we talk about uh uh technology brings uh uh expectation and some of the expectation are positive some of the expectation are negative here to move forward and to continue the development that we are trying to have we need to mitigate these risks. a gather like this.

When I see a group like this around us, it gives us a very great opportunities to look at these risks and then to think on the way forward and hopefully by the year next that we will see bigger number with bigger technology developed adding into with the AI but the risks are mitigated or reduced. What is the agenda of today's uh session? Today we're going to discuss uh items like building trust in the world of automation and decentralization because that what drives the efficiencies of the financial issues. Two, strengthening both technologies and organizational culture for resilience. Culture again when you talk about the technology culture is one of the main things that we need to mitigate and think of developing it further.

The third point is navigating complex crossber payment, permission and compliance. So those three items inshallah we're going to have a chance to go into more details. Again a technology is as good as people who design that technology who governance that technology and who is using that technology. So we would have sometimes discussing the advancing the people the culture around the communities that we are in. What do we do in ADGM?

Of course as most of the other entities these uh I would say challenges are part of our DNA in ADGM. So that's why we dedicated the team, we kept dedicating our uh event processes to further develop the uh the the aspects of the technology as well as the financial sectors. In conclusion, I really think that this event is very important for us to dig down to ask the right questions and even to take the points that we would discuss in more details because because again these are what's going to reflect in the futures. I would like just to wrap up by thanking all the speaker, panelists, uh partners and the delegation for being in this very uh successful uh events. Thank you very much.