The Abu Dhabi Global Market (ADGM) has inked a Memorandum of Understanding (MoU) with CPX Holding, a prominent provider of digital-first cybersecurity solutions, at the recently concluded Abu Dhabi Finance Week (ADFW).
This strategic collaboration aims to fortify the overall resilience of companies operating within ADGM’s expanding jurisdiction. It seeks to solidify its position as a global financial center with robust cybersecurity regulations.
Reinforcing cybersecurity regulations
Paul Lawson, executive director of cyber defense at CPX, and Abdullah Al Qubaisi, chief support services officer at ADGM signed the MoU. This agreement sets the stage for a joint effort to promote a cyber-secure and resilient business environment.
The partnership seeks to elevate compliance levels and adherence to regulatory requirements. Hence, it positions ADGM as a hub for cybersecurity best practices within the UAE business community.
CPX’s expertise in action
CPX’s governance, risk, and compliance experts will leverage their extensive experience and market insights to enhance ADGM’s cybersecurity regulations. Their objective is to ensure businesses operating within the jurisdiction remain secure and resilient against evolving cyber threats. Therefore, this collaborative effort will empower ADGM to act as an early responder to cyber risks. Accordingly, it is further boosting investor and customer confidence in the financial center.
The memorandum positions ADGM as a cyber-safe jurisdiction, providing an additional layer of value to the global financial center. It is a strategic move that is expected to increase investor confidence in the first place. Moreover, it enhances ADGM’s capabilities to respond effectively to the dynamic cyber landscape.
Exploring extended cybersecurity services
The alliance between CPX and ADGM goes beyond regulatory enhancements. It paves the way for exploring how CPX can extend its cybersecurity services within the ADGM jurisdiction. Hence, this move is aimed at enhancing the overall cybersecurity practices and resilience of companies registered and operating within ADGM. It reinforces the financial center’s commitment to cybersecurity excellence.
In addition to regulatory enhancements, the partnership opens avenues for collaboration on co-investment opportunities. It also allows CPX to develop specific cybersecurity products and services tailored to the unique needs of ADGM. This forward-thinking approach underscores the commitment of CPX and ADGM to drive innovation within the ADGM jurisdiction.
Read: ADFW 2023: ADGM introduces Mediation in the Metaverse to revolutionize dispute resolution
A joint vision
Commenting on the MoU, Paul Lawson stated: “Our collaboration with ADGM represents a significant step forward in addressing the growing challenges in today’s digital age. At CPX, we remain committed to providing unwavering cyber resilience support and empowering businesses to thrive in a secure and ever-evolving digital environment. We are excited to embark on this journey, and together with ADGM, we look forward to building a robust and resilient business community in Abu Dhabi and beyond.”
“The collaborative efforts of ADGM and CPX, supported by the UAE Cyber Security Council, represent a significant step towards establishing a cyber-secure and resilient business environment within the UAE capital’s international financial center. We aim to collaborate on various initiatives that will aim to position ADGM as one of the most Cyber Safe Jurisdictions in the region and beyond,” stated Abdullah Al Qubaisi.
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