Manama, Bahrain: The General Arab Insurance Federation (GAIF), the Arab international body focused on insurance and reinsurance, and Fintech Robos, a Bahrain-based firm specialised in savings and pensions technology and in organising financial conferences, have entered into a partnership under which they will collaborate in promoting platforms boosting financial literacy, financial inclusion, pension saving systems, and actuarial business in financial and economic sectors across the Arab countries.
A partnership agreement was signed this week between "GAIF" and "Fintech Robos", according to which the first became an official active partner in the three major annual events organised by the latter in Arab markets: the Arab Pension & Social Insurance Conference, Arab Savings & Financial Literacy Conference, and Arab Actuarial Conference. The agreement, which became effective 1st January 2023, was signed by Shakib Abou Zaid, Secretary General of GAIF, and Ebrahim K Ebrahim, CEO of Fintech Robos.
According to this partnership, the two parties will work together to enrich and expand these platforms over the coming years to increase institutional awareness within the financial industry on potential business opportunities and partnerships they will bring, as part of the continuous development of the Arab insurance markets.
In a statement on this occasion, Mr. AbuZaid stated that "GAIF" seeks to develop the regional insurance industry and achieve economic integration between the insurance markets in the Arab world. Hence, we are very pleased to work with like-minded institutions that share these visions with us in the Arab countries. Fintech Robos is certainly a key player in this space, and their platforms significantly complement the Arab financial industry and are moving in the right direction”.
On his part, Mr. Ebrahim said “We are so proud to be partnering and working together with this highest regional Arab insurance authority in various fields, to further promote the development of the financial industry, particularly in actuarial business, pension savings systems, financial culture and financial inclusion across Arab societies”.
GAIF is a regional federation that includes in its membership Arab insurance and reinsurance companies, regulatory authorities and insurance educational institutes. It started in 1964 in Cairo under a headquarters agreement with the government of the Arab Republic of Egypt. It aims to support ties between Arab insurance markets and authorities, develop regional insurance industry and represent regional interests in global insurance industry.
Fintech Robos is a B2B fintech firm, specialised in building digital solutions for savings, investments and pensions, as well as in organising financial conferences and tradeshows. It aims to be part of the solution to the chronic issue of financing pension funds, by bridging the gap in administrative technologies currently available that allow the provision of personal and group pension products (defined contribution pension schemes) that help people and governments alike to build retirement security.
