The Central Bank of the UAE (CBUAE) has launched the "Innovation Hub" at the Emirates Institute of Finance (EIF), a cutting-edge centre aimed at advancing research, innovation, and development in the financial services sector.
The new facility aligns with the UAE's sustainable vision, fostering technological transformation and building national competencies in financial innovation.
The launch event, held at the EIF campus in Dubai, was attended by prominent figures including Khaled Mohammed Balama, CBUAE Governor, and key representatives from the government, financial institutions, and academia.
The Innovation Hub is part of the CBUAE's "Financial Infrastructure Transformation Programme," designed to drive digital transformation across the financial sector. The Hub features six dynamic laboratories: the Learning Lab, Digital Lab, Reg Lab, Think Lab, Collab Lab, and Future Lab, which will serve as collaborative spaces for students, researchers, and professionals to address emerging industry challenges.
In his speech, Balama emphasized the Hub’s role in supporting the UAE’s financial digitalization journey and positioning the nation as a leader in the global digital economy, in line with the "We, the UAE 2031" national plan.
A highlight of the inauguration was the signing of a collaboration agreement with Microsoft to provide AI training for 10,000 professionals in the UAE's financial sector. Additionally, partnerships with Udacity, Accenture, and Ernst & Young were announced, focusing on upskilling workers in data analytics, cybersecurity, and digital transformation.
With these initiatives, the Innovation Hub is set to play a pivotal role in shaping the future of the UAE’s financial landscape and advancing the country’s AI and digital capabilities.
News Source: Emirates News Agency
