GAIF and Fintech Robos partner to boost 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 specialised in savings and pensions technology, have entered into a partnership under which they will collaborate in promoting platforms boosting financial literacy, financial inclusion, pension saving systems, and actuarial business in financial and economic sectors across the Arab countries.

According to this partnership, the two parties will work together to enrich and expand these platforms over the coming years to increase institutional awareness within the financial industry on 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 the insurance markets in the Arab world. Hence, we are very pleased 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 are moving in the right direction”.

On his part, Ebrahim K Ebrahim, CEO of Fintech Robos said, “We are so proud to be partnering and working together with this highest regional Arab insurance authority in various fields, to further promote the development of the financial industry, particularly in actuarial business, pension savings systems, financial culture and financial inclusion across Arab societies”.

GAIF is a regional federation that includes in its membership Arab insurance and reinsurance companies, regulatory authorities and insurance educational institutes. 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 authorities, develop regional insurance industry and represent regional interests in global insurance industry.

Fintech Robos is a B2B FinTech firm, specialised in building digital solutions for savings, investments and pensions, as well as in organising financial conferences and tradeshows. It aims to be part of the solution to the chronic issue of financing pension funds, by bridging the gap in administrative technologies currently available that allow the provision of personal and group pension products that help people and governments alike to build retirement security.