EIF Innovation Hub of the Emirates Institute of Finance (EIF) announced a joint initiative to explore traditional and generative artificial intelligence (AI) in the financial services sector. The collaboration includes HSBC Bank, Al Maryah Community Bank, and UAE-based technology firms Presight and Core42.

H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE) and Chairman of the Board of Directors of EIF, witnessed the signing of a Memorandum of Understanding (MoU) during an event at the EIF Innovation Hub in Dubai. Senior representatives from the financial, banking, and technology sectors attended.

The partnership aims to advance AI adoption in finance by:

• Enhancing operational efficiency and cybersecurity.
• Improving customer experience and digital banking services.
• Supporting secure and responsible AI integration.

Officials reported that the initiative will drive knowledge exchange, joint research, and pilots to test real-world AI use cases in banking and finance. It reflects the UAE’s commitment to accelerate digital transformation while ensuring responsible and ethical AI deployment.

H.E. Saif Humaid Al Dhaheri, Assistant Governor of Banking Operations and Support Services at CBUAE and Vice Chairman of the EIF, emphasized that the launch demonstrates the UAE’s vision for building an innovative and resilient financial ecosystem. He stated that secure AI adoption will help balance technological progress with financial stability.

Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East, revealed that the bank aims to leverage AI with EIF Innovation Hub to simplify banking and deliver practical solutions.

Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, reported that the partnership will accelerate AI-driven banking in the UAE. He added that innovation and security remain priorities for the bank’s future strategy.

Dr. Adel Al Sharji, COO of Presight, announced that the initiative creates opportunities to boost trust, integrity, and operational efficiency in financial systems through AI.

Kiril Evtimov, CEO of Core42 and Group CTO of G42, confirmed that the initiative aligns with G42’s strategy to advance AI across critical sectors. He noted that the project will unlock new applications in deposit growth, account reactivation, document automation, and risk assessment.

The collaboration highlights the role of EIF Innovation Hub in positioning the UAE as a global leader in financial innovation powered by AI technologies.

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