Royal Strategic Partners (RSP), representing Naqd Group, SAP Fioneer GMBH and MBME Group have signed a Memorandum of Understanding (MOU) to establish a joint venture to create a Hub promoting digital innovation and technological advancement in the rapidly emerging digital economy across the MENA region and Indian sub-continent. A new "Centre of Excellence" based in Abu Dhabi is the first element of the Hub focusing on the Banking, Investment, Insurance and related financial services industries. The MOU was signed by Matthias Tomann, Chairman of SAP Fioneer, Dr. Hamad Al Ali, CEO of RSP, and Ali Mohamed AlBadi, Chairman of MBME Group, at a ceremony held at RSP's headquarters in Abu Dhabi.

Senior representatives from all three companies also attended the event. The creation of this collaborative platform will bring together professionals and experts from the financial and technology sectors to foster innovation and knowledge exchange. The initiative will be dedicated to the development of cutting-edge solutions and best practice empowering financial institutions to effectively serve their customers in the digital era.

Noting that this groundbreaking initiative and the establishment of the Centre of Excellence in Abu Dhabi is a testament of their commitment to digital innovation and technological.