Abu dhabi: Abu Dhabi has launched the FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster to accelerate the development of next-generation financial and investment solutions and expand the emirate's role as a global capital hub.

According to BERNAMA News Agency, the FIDA cluster is spearheaded by the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO). It serves as a core pillar of Abu Dhabi's long-term economic diversification agenda. By 2045, FIDA is projected to contribute an additional USD 15.2 billion to Abu Dhabi's direct GDP, generate 8,000 skilled jobs, and attract at least USD 4.6 billion in investment. This initiative is expected to cement the emirate's position as a destination for innovative and resilient financial systems.