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MENA Fintech Association and Hungarian Fintech Association Forge Strategic Partnership to Drive Global Fintech Collaboration

MFTA x HFA

Dubai – UAE, 13th May 2024 – The MENA Fintech Association, the premier not-for-profit organization dedicated to serving fintech startups and established players across the Middle East and Africa, is excited to announce the signing of a Memorandum of Understanding (MOU) with the Hungarian Fintech Association aimed at enhancing collaboration and fostering innovation within the fintech ecosystems of both regions.

Founded in 2018, the MENA Fintech Association has earned recognition as one of the top 4 fintech bodies globally. With a strong presence in the Middle East and Africa, the association has been at the forefront of driving innovation and fostering collaboration in the fintech industry.

The Hungarian Fintech Association is an industry association established in 2020. With more than 50 members, they aim to unite all participants of the Hungarian fintech ecosystem. They work on helping decision-makers, regulators and financial institutions to better understand the local fintech sector and its needs. They serve as a soft landing for international members, and offer assistance and services upon their entry into the Hungarian market. They provide various educational and networking opportunities for their members and other industry players

The MOU, which signifies a landmark agreement between the two leading fintech associations, was signed during the prestigious Dubai Fintech Summit, held in the vibrant city of Dubai. Notably, the signing ceremony was graced by the esteemed presence of the Governor of the Central Bank of Hungary.
This strategic partnership marks a significant step forward in strengthening ties between the MENA region and Hungary, with a shared vision to create an environment conducive to fintech growth and development. Both associations are committed to leveraging their respective networks, resources, and expertise to facilitate cross-border collaboration, knowledge exchange, and innovation within the fintech industry.

Nameer Khan, Chairman of the MENA Fintech Association and Founder of FILS, expressed his enthusiasm, stating, “We are thrilled to formalize this partnership with the Hungarian Fintech Association. Since last year the Hungarian Central Bank and the local ecosystem have been strategically working with MFTA. By now formally joining forces, we aim to unlock new opportunities for fintech firms in both regions and drive impactful collaboration that will fuel innovation and growth in the global fintech landscape.”

“The main goal of the Hungarian Fintech Association is to establish meaningful connections and business opportunities for its members. We can assist MENA located companies in entering the European Union not only through connections but also by sharing best practices and providing regulatory and legal advice. Through our mutual cooperation, Hungarian fintech companies can also more easily conduct business in MENA countries, and this close collaboration can foster the growth of the international fintech ecosystem.” – Zoltán Ács, President of the Hungarian Fintech Association

Under the terms of the MOU, both associations will work closely to facilitate cross-border fintech initiatives, such as joint events, knowledge-sharing sessions, and collaborative projects. Furthermore, the partnership seeks to support fintech startups and scale-ups by providing them with access to new markets, investment opportunities, and regulatory insights.

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