MENA Fintech Association (MFTA), a not-for-profit organisation serving fintech startups and established players across the Middle East and Africa, has formed a new policy and regulations working group.

This initiative aims to create a collaborative environment for regulators, innovators, and industry experts to influence the development of fintech firms in the region.

Zain Umer, managing director of CFC MENA, and Christine Abou Assali, partner at Alem & Associates, have been appointed as co-chairs of the working group.

Umer said: “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.”

The primary objective of the Working Group is to tackle regulatory challenges, share best practices, and enhance communication between regulatory bodies and fintech companies.

Key areas of focus for the working group will include the examination of regulatory frameworks, stakeholder engagement, and the promotion of industry best practices.

The group has already attracted participation from significant players in fintech, banking, payments, and legal advisory, positioning it as a key forum for regulatory discourse in the region.

MFTA chairman and Fils founder Nameer Khan said: “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.”