GAIF and Fintech Robos collaborate to increase financial literacy in the Arab world

By Leandra Monteiro

The General Arab Insurance Federation (GAIF), the Arab international body focused on insurance and reinsurance, and Fintech Robos, a Bahrain-based firm specialized in savings and retirement technology, have entered into a partnership in which they will work together to promote platforms that increase financial literacy, financial inclusion, pension savings systems and actuarial activities in financial and economic sectors across the Arab countries.

Under this partnership, the two parties will work together to enrich and expand these platforms over the coming years to raise institutional awareness within the financial industry of the potential business opportunities and partnerships they will bring, as part of the continuous development of the Arab insurance markets .

Shakib Abou Zaid, Secretary General of GAIF stated, “GAIF seeks to develop the regional insurance industry and achieve economic integration between insurance markets in the Arab world. Therefore, we are very happy to work with like-minded institutions that share these visions with us in the Arab countries. Fintech Robos is certainly a key player in this space and their platforms significantly complement the Arab financial industry and move in the right direction.”

From his side, Ebrahim K Ebrahim, CEO of Fintech Robos said: “We are so proud to partner and collaborate with this highest regional Arab insurance authority in various fields, to promote the development of the financial industry, especially in actuarial business, retirement savings systems, financial culture and financial inclusion across Arab societies”.

GAIF is a regional federation that includes Arab insurance and reinsurance companies, regulatory authorities and insurance education institutes in its membership. It started in 1964 in Cairo under a headquarters agreement with the government of the Arab Republic of Egypt. It aims to support ties between Arab insurance markets and governments, develop regional insurance industry and represent regional interests in global insurance industry.

Fintech Robos is a B2B FinTech company, specialized in building digital solutions for savings, investments and pensions, as well as in organizing financial conferences and fairs. It aims to be part of the solution to the chronic problem of funding pension funds, by bridging the gap in administrative technologies currently available that enable the provision of personal and group pension products that help both people and governments to build pension security.