DFSA and Moro Hub Strategically Partners for Cyber Security

The Dubai Financial Services Authority (DFSA) and Moro Hub, a subsidiary of Digital DEWA the digital arm of Dubai Electricity and Water Authority PJSC, have entered into a strategic partnership at GITEX 2024 in Dubai, Middle East, to strengthen the DFSA's capabilities in information technology and cyber security.

GITEX is a world-class technology exhibition held in Dubai. On the platform, Waleed Al Awadhi, Chief Operating Officer of the DFSA and Eng. Marwan Bin Haidar, Vice Chairman and Group CEO of Digital DEWA shared insights on strengthening the financial services industry against cyber threats and signed a Memorandum of Understanding (MoU) on behalf of the two parties.

DFSA and Moro Hub have established an ongoing framework of collaboration to share knowledge, conduct joint training programs and collaborative IT and cyber security projects.

The regulator of the Dubai International Financial Services Centre will leverage Moro Hub's cutting-edge digital solutions and team of experts to continue its digital journey while focusing on developing, administrating and strengthening world-class financial services regulation within the DIFC.

Waleed Al Awadhi, Chief Operating Officer of the DFSA, said: “This partnership represents a significant step in elevating our IT and cybersecurity best practices and standards; ensuring that the DIFC remains a leader in security and innovation within the global financial landscape. As we harness the combined strengths of the DFSA and Moro Hub, we aim to foster an ever more secure and adaptive environment that encourages innovation while protecting our stakeholders from evolving cyber threats.”

Eng. Marwan Bin Haidar, Vice Chairman and Group CEO of Digital DEWA, said: “This MoU marks a significant step in our efforts to strengthen cybersecurity and IT infrastructure across sectors. By working with the DFSA, we are confident that we will be able to accelerate digital transformation and contribute to the sustainable economic growth of Dubai. Together, we will explore ways to enhance IT infrastructure and cybersecurity practices, ensuring that we remain at the forefront of innovation and security.”