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CBUAE Youth Dialogue Initiative Passes the Torch of Financial Innovation to Emirati Youth

His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), has inaugurated the second edition of the flagship initiative, entitled ‘the CBUAE Youth Dialogue’.

This year’s event was held to celebrate the council’s second anniversary and involve the CBUAE’s youth in championing innovation and technology to achieve the UAE’s ‘Towards the Next 50’ strategy, in accordance with its upcoming Golden Jubilee.

The second edition of the “Youth Dialogue” included a speech by His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, in which he spoke about the importance of artificial intelligence in the development of the UAE’s economy.

The Youth Dialogue brought together senior employees from CBUAE and other UAE regulators, including Abu Dhabi Global Market, Dubai International Financial Centre, and Dubai Blockchain Centre.

The event discussed pertinent trends shaping the financial and banking sectors, such as blockchain, fintech, regtech, and the promise of these technologies in powering the 50-year strategy, which would enrich the thinking of the youth and prepare them to lead the sector in the future.

This comes as CBUAE recently announced their intentions to launch their very own digital tender. The issuance of the cryptocurrency, which will be known as CBDCs or Govcoins, forms the basis of the bank’s wider ambitions to drive digital innovation within the region.

H.E. Khaled Mohamed Balama, Governor, CBUAE
H.E. Khaled Mohamed Balama, Governor, CBUAE

During his opening remarks, H.E. Khaled Mohamed Balama, Governor of the CBUAE, said, “Over the past fifty years, and in embodiment of the vision of its wise leadership and the aspirations of its people, the UAE has laid the foundations for the growth and prosperity of its community. We at CBUAE aim to empower the youth in facilitating yet another fifty years of progress for the UAE, underpinned by an innovative spirit and a robust understanding of progressive technologies.”

H.E. added, “It is of the utmost importance for CBUAE to educate the generation of tomorrow on the tremendous role they play in realising the ambitious vision set forth by our leadership, as well as the pivotal application of financial technologies in achieving so. We take great pride in having hosted the second edition of the Youth Dialogue in this regard and are confident that the CBUAE Youth Council will continue to effectively represent and enlighten the next era of changemakers.”

The aim of the dialogue was to develop the youth of the CBUAE in various relevant fields, and to provide them with information and knowledge to gain the necessary experience that would enable them to shape the future of the banking and financial sector.

Inaugurated in 2019, the CBUAE Youth Council was founded to represent and empower Emirati youth to participate in the financial and banking sectors. The premise of the Council and its initiative is to communicate effectively with the youth and raise awareness by involving them in various events and workshops.

Author

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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