The MENA Fintech Association (MFTA) launches the region’s first Policy and Regulations Working Group, co-chaired by Zain Umer, Managing Director, CFC MENA, and Christine Abou Assali, Partner, Alem & Association. The initiative unites regulators, innovators, and industry leaders to shape fintech policy, promote best practices, and strengthen collaboration, aiming to balance innovation, compliance, and consumer protection across MENA.
The MENA Fintech Association (MFTA), the not-for-profit industry body supporting fintech startups and established players across the Middle East and Africa, has launched the region’s first dedicated Policy and Regulations Working Group. The initiative brings together regulators, innovators, and industry leaders to collaborate on shaping the future of financial technology across the region.
The new Working Group is established to address key regulatory challenges in fintech and create an environment that balances innovation with compliance. By developing adaptable frameworks and fostering direct engagement between stakeholders, the initiative aims to build a resilient policy foundation to support long-term industry growth.
Focus areas of the Working Group include:
- Exploring regulatory frameworks: Proposing clear, innovation-friendly policy recommendations.
- Engaging stakeholders: Creating open channels of communication between regulators, financial institutions, and fintech innovators.
- Promoting best practices: Advocating for industry-wide standards in compliance, security, and consumer protection.
Appointment of Co-Chairs
To lead the initiative, MFTA has appointed two senior industry leaders as Co-Chairs of the Working Group:
- Zain Umer, Managing Director, CFC MENA
- Christine Abou Assali, Partner, Alem & Association
Commenting on the appointment, Zain Umer says:
“It is an honour to co-lead the launch of the region’s first Policy & Regulations Working Group under MFTA. Our goal is to ensure that fintech players and regulators work hand in hand to design frameworks that enable innovation while safeguarding trust. This initiative is about creating the balance between agility and compliance that the region needs to remain globally competitive.”
Christine Abou Assali highlights the significance of the initiative for the region:
“The MENA region is at a turning point in fintech innovation. By establishing this Working Group, we are setting a precedent for meaningful collaboration between the private sector and regulators. Together, we aim to drive forward policies that empower businesses, protect consumers, and pave the way for a dynamic financial future.”
Industry-Wide Collaboration
The Policy and Regulations Working Group already includes a diverse set of members from fintech, banking, payments, and legal advisory sectors. With this broad participation, it is positioned as the region’s premier regulatory think tank. The Association invites additional organisations and professionals to take part in the initiative, reinforcing the collaborative effort to shape finance across MENA.
Welcoming the new Working Group, Nameer Khan, Chairman of the MENA Fintech Association and Founder of Fils, states:
“Launching the region’s first Policy & Regulations Working Group is a historic milestone for MFTA and the industry. We are delighted to have Zain and Christine at the helm, bringing their exceptional expertise and vision. With their leadership, we are confident this initiative will unite regulators, innovators, and industry leaders to create regulatory pathways that inspire trust, foster innovation, and accelerate the growth of fintech across the region.”
About MENA Fintech Association
The MENA Fintech Association is a leading non-profit organisation dedicated to advancing fintech innovation across the Middle East and North Africa. Recognised among the world’s top fintech bodies, the Association actively engages with regulators, innovators, and stakeholders to strengthen policy frameworks and contribute to the development of a robust regional ecosystem.
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