Israel & Croatia sign Fintech agreement


The Capital Markets, Insurance and Savings Authority, and Israel Security Authority announced earlier this week that they have signed an MoU for collaboration on FinTech issues with the Croatian Financial Services Supervisory Agency (HANFA).

The agreement aims to support Fintech companies in both countries and to enable information sharing regarding this fast-developing domain.

The MoU reinforces Israel’s status as an innovative, advanced center of FinTech.

David Malits

David Malits

Regarding the decision, David Malits, Founder, and CEO at DM Communications said:

The agreement with Croatia is a direct continuation of other agreements signed since the beginning of the year, including the ones with New York (USA), France, and Switzerland. The Joining of Israel to the Global Financial Innovation Network (GFIN) strengthens Israel’s position as a leading technology player.

Many Fintech ventures are based in Israel, and the fact that its regulation is becoming acceptable to other markets in the world via cooperation opens the door for Israeli entrepreneurs to new markets, which weren’t available before.

To my delight, this isn’t the first step the Israeli regulator has made to encourage technological growth. It is known that regulation usually lags behind innovation, but here we see honest actions by the authorities to promote, develop, and assist growth.

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