 Andrea to start. Thank you. In the meantime, I'm going to start recording. Mascar, I lived on to you to, you know, go straight to the presentation. My pleasure to have you here by the way, Mahabba, as they say in Abu Dhabi. So I lived on to you to have the presentation about what's going on in the Arabian Emirates and more specifically in Abu Dhabi Emirates, you know, the initiative called Abu Dhabi Global Market. So welcome to this virtual spot. I want to have you here today. I'd like to stage right to you to give us some insight on what's going on over there. Okay, great. Thank you very much, Andrea. And thank you very much for inviting me to speak at this event. Quite an interesting time and a very fascinating range of participants. So thank you very much for taking the time. Before I go into it, just a brief background. My background is trading and banking and I spent most of my time in London in consultancies in banks and fintech firms. And my last job was I was working for Her Majesty trying to get the British people to export a bit more. And we did some really interesting things over here. And then I moved down here to the sandpit. And I'm working for Abu Dhabi Global Market, which is Abu Dhabi's International Financial Centre. Next slide please. Sorry. My computer is messing up a little. I don't know what's going on. Hold on. Okay. Do you want me to present? I mean, my, I can work now. No, no, it's just, okay, here it is. Okay, good. So look, I mean, a bit of context is important. This is a very interesting country because frankly, it formed a nation just about 50 years back. And the founding father actually, unlike quite a lot of other resource intensive firms, countries realized that you cannot actually rely on, on just oil. And they wanted to, and he actually wanted to diversify the economy, which was quite prescient of him. So if I go to the next slide, what the country has been trying to do is to diversify its economy into quite a lot of various areas ranging from education, pharmaceutical, tourism, aviation, tourism, et cetera, et cetera. And a financial centre was also set up. So we are also a startup, frankly, in five years. So the idea is not just to develop the financial centre, but also to help finance the rest of the sectors that you can see. So from that perspective, if you go to the next slide, the ADGM was set up, Abu Dhabi Global Market and it's Abu Dhabi's International Financial Centre. A few things that were very important and it's very unique amongst all the other 385 financial centres that are noted. We learned quite a lot about what not to do and what to do. So the people who actually run the financial centre are the great and good of Abu Dhabi. Our Executive Chairman, he's also the UAE Federal Minister of State. He's also on the board of ADNOC, which is the Abu Dhabi Oil Company. Then we have got people from the Abu Dhabi Executive Council. We have our two sovereign wealth funds, as well as the Department of Economic Development. So as you can see, all the main parties are overseeing the development of the financial centre. The other thing that we did was to bring in all the main relevant pieces to run a financial centre under one roof. So starting from the right, we actually adopted English common law and it is led by Lord David Ho, Chief Justice and this is important later on. I'll come to that. This looks after both the civil and commercial aspects of the centre. It is also the only purely digital court in the world. This is again important because quite a lot of very innovative things that we have launched, we are fully digitized. So let's put it in this way, we were COVID ready long time back. You can launch the cases from anywhere in the world. You can hear the cases from anywhere in the world, document, discovery, enforcement, everything is digital. Besides this, the next one is financial services regulatory authority and we look after everything, whether it's banks or insurance companies, funds, exchanges, fintech, everything under one roof. Then we have the registration authority, which actually oversees the corporate structures. We are also perhaps the only jurisdiction outside the EU to have almost fully adopted GDPR. We also have got a very strong innovation framework and we are growing quite rapidly. And then ADGM authority which looks after the strategy, business development, etc. So all of this is under one roof, which basically means that anything that we want to do and to execute, we can do this very, very quickly rather than having to worry about 10 different departments, etc. If you go to the next slide please. So because of this, quite a lot of firsts have happened over here. First is obviously the first jurisdiction between Singapore and London to adopt English common law. First private REIT regime, we are perhaps the largest digital and crypto asset regulated jurisdictions in the world and I'll talk more about that. We are the first digital sandbox with a participating regulator. We are the first fintech regulatory sandbox. We are perhaps the second most active fintech jurisdiction in the world after the FCA. I already talked about the courtroom. The first API framework over here, we are perhaps the biggest VC jurisdiction in the wider region. So quite a lot of new things happening. Next slide please. So it's a full-blown financial center, whether you're talking about netting, whether you're talking about SPVs, foundations, family wealth, REITs, infrastructure funds. We have about 100 billion assets under management as in funds. We have about 37 sovereign wealth funds based over here, fully digitized. I have more than seven exchanges now, both public as well as private, so on and so forth. Next slide please. So some of the main reasons why we are seeing a substantial growth over here is I talked about the common law. We are fully aligned with international regulations. Very proactive in releasing regulations and I'll talk more about that in a moment. We are one of the best in the ease of doing business and some of the smaller things like there are no taxes, no direct taxes or can we go back please? Andrea, can we go back please? Thank you. So no taxes, both corporate as well as personal, you can repatriate as much as you want. One of the top three healthcare jurisdictions in the world. It is the safest city in the world. Connectivity is absolutely amazing. You can connect to pretty much anywhere in the world through the UAE based carriers. So consequently, this is becoming a very, very quiet, discreet and highly active place to do some very, very interesting things. Next slide please. So some of the firms that we have got, most of the banks are here, capital markets are here, non-financial services, whether you're talking about Siemens, Raython, we are becoming some of the big security and defense hubs over here. We host the region's only healthcare accelerator. To give you an example, we are the only country in the world which has mapped the genomic footprint of all the citizens. So as you can appreciate the amount of fascinating AI and robotics and yes, blockchain based initiatives which are getting developed over here in the life sciences area is extraordinary. Because of the English common law presence, we have more than 60 international law firms here and I already told you the family wealth over here is extraordinary. Next slide please. So let's start getting into the nitty gritty of blockchain and digitization, etc., etc. I talked about the reg lab that we have got. We also have got presence of perhaps the most substantial venture capital and PE funding mechanisms and channels in the region. I talked about the digital securities and virtual assets framework, which I'll speak a bit more, but we were the first to issue guidance. And now I have got six exchanges which are fully authorized to trade digital assets and there are 20 more exchanges and platforms in the application phase. I talked about the digital banking and investment management pieces. Again, I'll go a bit deeper into it, but we now have got tokenized funds. And we also have API guidance that people can use. Next slide please. So we also host the region's biggest fintech facility to come over here. For this one, there is of course a bit of COVID restrictions, but we are hoping to host the fintech Abu Dhabi between 22nd to 24th of November. We will have roughly about 200 investors here who are looking for investable opportunities as well. Next slide please. We also have developed a digital lab and it is free. We bring quite a lot of funds on to there like most of the banks, funds, other institutions and we are having a lot of fintechs over there as well. They are issuing digital challenges, testing is happening, stock exchanges are currently talking about putting their data on it, so on and so forth. So this is the place you can test out your innovative business models under the watchful eyes of the regulator that is us. Next slide please. So I was talking about what kind of stuff you are doing on digital assets. These are some of the firms that are already authorized. Kraken, Matrix, Glomag, BitOasis, midchains, they are all live, they are dealing with customers. UAE is one of the top, if not the top country for institutional and professional investor trading on this. So you've got the exchange. We have broker dealers. We have digital custodians and we can allow you to do digital securities as well. Next slide please. So what kind of digital assets can you do? To be bluntly honest, other than utility tokens, you can issue virtual assets, digital securities, fiat tokens, derivatives and funds. We have now done the first fund week before last and by FinTech Abu Dhabi in November, we are hoping to have about seven tokenized funds which are available for trading. Next slide please. So let's start getting into a bit of an integrity on this. Our experts basically say we have got what I would call as perhaps the most advanced REC tech systems and processes available to actually evaluate all these exchanges that we have got. We monitor the blockchain folks completely on a real time basis and these are flagged up as well. So no other regulator at this moment is able to do this from what I understand. And the thing that we encourage our exchanges to do is not just do digital assets, whilst you can do Ethereum and blockchain and few other virtual assets that you can think about. We don't give them a specific license just to trade digital assets. We tell them, come in and disrupt the other asset classes as well. So if they want to go in and do equities, they want to come in and do carbon credits, they want to do hydrogen, they want to do shipping freight, all fine. We can handle them all. Then we are working extremely closely with all our exchanges. A very, very heavy in-depth assessment happens, physical interviews happen. We check them up and literally it can take up to two years for us to approve an exchange. That's why I said we are perhaps the biggest long-time and the widest network of exchanges that we have got. And as I said, we've done the world's first cross jurisdiction Fatiff travel rule test execution. So Fatiff are quite happy with us in what we are doing in this particular area. Next slide please. I already talked about the funds tokenization. So let me spend a bit more time on this. We are definitely open to funds getting tokenized over here. And we have done quite a lot of thinking about it for the past 12 months. So because of that, we have now got mancos here as well as funds platforms. So the first thing that we see that the benefit of tokenizing a fund as a regulator, please bear that in mind that it makes the LP situation much more liquid. If you're having a fund which is distributing itself based upon tokens, there is a vast array of new liquidity sources. I'm not talking about on the retail side. This is not a dogecoin thing. We're talking about proper grown-up institutionally regulated funds. So this is oriented towards institutions as well as professional investors. They like it. More people are looking at this as an asset class and if the asset class is fully regulated as an underlying fund vehicle, they love it. So pretty much every fund that comes across, we are offering the ability for them to tokenize to take advantage of the additional liquidity. The operational side also is much more improved. You can shift ownership much more easily. And because it's a regulated entity, people are very comfortable that this can work. Also, we have digital custodians. So the entire landscape of the entire buy side is something that is going to get disrupted. And we have all the assets to make sure that we can help that. Plus, and I'm going to talk a bit more about this, we are now the third jurisdiction in the world which fully recognizes fully electronic transactions. So what that means is you don't physically need to have paper or wet signatures. So transfer of ownership of pretty much any kind of contract, not just tokenized assets is possible. And I'll talk a bit more about that. Then I'm giving another example of air carbon. I mean, air carbon is now registered with Hub 71 and this is the future look. Global carbon market, carbon market trading and tokenization is definitely happening. We are also starting to go after areas which traditionally have been tested out, but really haven't really done much things like hydrogen or commodity freight contracts, etc, etc. Next slide please. So as you can see, we've got all these things available. So once we bring all these pieces together, English common law, we've got the digital lab where you can test it out. You have got a digital code where you can test out these digital assets or electronic transactions, etc, etc. And API framework, we are developing an SME platform. It's an MVP at this moment where a regulatory run body, which allows SMEs to register just once. And then they can get services ranging from legal services to financing. I talked about our FinTech platforms, but a lot of them, Abu Dhabi corporates are the corporates who are willing to purchase and participate. EDGM banks are involved, Abu Dhabi Inc, which is full of the sovereign wealth funds or the co-investment and the joint ventures that we have got. And we are partnering with people ranging from ITFA, WTO, ICC, BAFT, etc, etc. Next slide please. So some of the tests and POCs which are currently in discussions are being undertaken range from smart guarantees, digitization of bills of exchange, code documentation, digitization, security settlements on an intraday basis, crypto virtual asset settlement, export finance, so on and so forth. Next slide please. So where are we with this? As I said, in February we bought everything together. Pilots are happening this year. We're going to start announcing the first results in November at FinTech Abu Dhabi in November 2021. We're going to start extending to other asset classes in 2022. Next year again we are hoping that the banks who are doing the testing will operationalize the model law and digital asset pieces in 2022. Corporates are going to get onboarding next year and of course we start going live from next year onwards. So this is just a very, very quick canter through what we have been doing in our roadmap towards fully digital trade finance. I think this is the last slide if you can just take it to the next one if possible. Yeah, my contact details are available over there. In case any of you folks want to have a further chat or see how we can support you, I would be delighted to do that. But that's the end of the presentation. Hopefully I've made it on time. It looks like it. But I'm here to answer any questions if there are. Perfect. Thank you. Thank you Buscat. It was really interesting presentation. I will start first by asking you know Abu Dhabi as a very strategical position. Just wondering, you know, being over there in the peninsula in the rabbit peninsula. Just wondering, is it a local experience that you are setting up or maybe you are looking for a broader picture on geographical expansion and your solutions. I mean, namely the old Aquarium Man region or other related region. What are your plans in terms of expansion of the global market. That's a good question. Look, I mean, what you have to realize is that this is a very interesting place. The liquidity available over here is, is absolutely mind boggling. Absolutely mind boggling. And the number of people over here is tiny. We hardly have about 3 million people. So I cannot physically. Did we lose him there? Maybe yes. He's got some problems. What happened? Andrea, you're right. We did lose him. But exactly why we don't know, I think. I really have no idea. It was a very clear presentation coming over very clearly. Luckily the presentation. It looks as he's having some issues with his own Wi-Fi. Very informative presentation and well worth. Following up with him separately, I think. Wait for a few more minutes. I hope my question is destroyed by Scott. It was a nasty one, maybe. Still there. I think that's it. So we've got some time. All of us here together, right? We could ask a question. I mean, generally, look, it was an excellent presentation and it's very clear. That ADGM is really, as he said, trying to put the whole system as it were, the echoes together. The question that I have is then what are the benefits for those of us as it were outside ADGM? I mean, he spoke of liquidity, of course, and a pool of liquidity. But where do you see, or collectively, where do we see the benefits of reaching out in the direction that he would want? I mean, reaching out to him and his colleagues. How could they best help? You know, if you want my perspective, you know, it's a good one because you can reach out to so many other places, you know, while the liquidity stands. If you have Abu Dhabi, you have access to so many markets. Don't think about Abu Dhabi as a single experience. Think about Abu Dhabi as a door. You know, the whole of the amur is all absorbed somebody else. You can reach out to India. You can reach out to Eastern Africa. Look at the position geographically. It's the ideal. So, both commercially and geographically, on the concrete side, you have. They have, you know, commerce, you know, they have liquidity. They have everything, you know, they have facilities. You know, for Khalifa in Arabic. Oh, what's that? You're back. What happens? Can you hear me? What's that? Can you hear me? No, we can't. I think he's on mute. Yeah, but again. Pretty morning, John. Hi Andrea. So sorry. I don't know. I'm sorry. The technology gods are upset with me. You can install a lot of stuff. Sorry. So sorry about this. Okay. I've now managed to dial in. If you're telling you, you are, let's say, good, bad to face this in every aspect of your own life. So no major worries. I live down to you to ask my question. Anyway, sure. So look, I mean, as I was saying, we are a very, very small Emirates, very small country, and the liquidity is huge. So it's a, it's almost like a hub, if you will. We also have the world's largest double tax treaty network in the world, which seems to attract what a lot of people so far to try and answer your question. We are definitely interested in firms coming in from anywhere in the world. So where it makes sense. It's the Miasa region. So Middle East, Africa, South Asia, Central Asia. We also have got huge investments and we can help firms who are coming over here. On my side, another question, but Scott, I saw, and you know, my fellow name because of my own interest, I saw, I mean, organization of carbon credits. How do you see the future also in a trade based scenario? Have a good experience to see to proceed the trend in the future. Is it rising up? Because of no constant concern environmental ones. So we are very strongly encouraging the development of the future energy sources. Carbon is definitely something that is very high on our list. Look, you've got to understand, we are one of the lowest cost and biggest oil producers in the world. So what do you do? I mean, you can't just stop producing oil. Look at what Norway is going through in terms of challenging it. So what we have started to do is every very large crude carrier that loads up oil in Fujaira port actually comes with a fully covered carbon certificate. So putting it another way, what we are trying to do is to address the issue of the fact that there are hydrocarbons being produced by actually saying every shipment is carbon neutral, but not just that. There's a huge investment going into future energy and not just on the production side, we are actually investing in firms who are looking at future energy and pricing. So let me give you two, three examples. First is, for example, we've got a $400 million investment in hero futures energies in India. On October the 11th, we are posting a very large investor event in ESG. We're almost about 15 investors are meeting with firms from India. That is one example. Another example is our sovereign wealth funds are investing in, for example, triples. So there are funds here which are investing in ESG and that includes digitization. It has to be made completely different. The operating environments have to be different and blockchain, DLT based, securitization, financing, everything. Absolutely welcome. Thank you, Baskar. This is a question from my friend Pratik Sharma from India. He's asking, supply chains, digitalization platform is on one. You mentioned about asset digitization. Can you please shed some light on below the lading digitization? It's a good question. I mean, also on the logistics side, you did mention your presentation on what you're trying to do in digitizing also the documentation. Sure. So look, I mean, we now have got about 10 odd banks who are doing this. Now let me give you a bit of a background. The laws that we have passed in February basically mean that unlike the traditional contracts law that you would have found which would have said, you need to establish your identity and generally signatures are it. And second is a document is involved, which transfers ownership. We have removed that. What it says is that you can write a contract which says that to establish ownership or you don't actually need a physical document. As long as the two parties agree that it could be a blockchain platform. And that's how the ownership is going to get transferred. And it is regulated under ADGM law. We are fine. We are also not prescribing what technology you're going to use. So we have five or six firms already in the digital lab, who basically say, if you wanted to do a bill of exchange or a letter of credit or any any negotiable instrument, as long as it is under ADGM law and both parties agree on the technology framework. It is fine. Number one. Number two is identity. How do you prove the identity of the person who's actually engaging in that. Now you could have a physical warm person like me, and you can establish an identity mechanism that you like. Or you could use biometrics, or you could use smart contracts. You could literally have a have a RFID code, which actually says it is a legal vehicle in its own right or a legal person in its own right. And once the shipping container crosses a particular port or a particular geographic location, or somebody takes off something. It's fine. Identity is proven. So, I go back to what is possible now, and this is what is getting tested. You created a letter of credit you created you meaning humans you created a bill of exchange to establish identity and to establish ownership and changes. We have just removed that entire entire requirement for it to be done on paper, or on physical or on red signatures. So that's what the testing is being done on the digital lab using our fintech firms using our corporates and our banks. It's also important about the possibility of these these documents you know when they move from platform to another one, especially you know, in terms of different jurisdiction. I was just on my side asking myself thinking about myself. We're talking about Arabian United United Arabian Emirates. So it means you know, all different Emirates. How about the jurisdiction picture within the country. Do this change, which she removed from Abu Dhabi to Dubai, or are we looking at same picture basically, because that's how I say new you know what I mean. The enforceability of ADGM law. We have signed MOUs with all the major jurisdictions in the world. And plus this is English common law. So within the UAE itself we have got agreements with Abu Dhabi courts Dubai courts and other Emirates courts. Any enforcement order which is passed by ADGM courts can be applied in the other Emirates. Same way, if you were to, for example, we are collaborating with the Singapore government on on trade trust. Because they are based in English common law and because we are based in English common law judges in both jurisdictions can and will take cognizance of the rulings made by both courts. Now what you have to realize is out of the 380 odd financial centers around the world almost about 40% of them are based in common law. So what I'm trying to say is a judgment pass in any common law court is by its very definition included in the deliberations by the by the judges. Andrea you're you're on mute. No, no, I know I know I know sorry I was trying to solve the problem because of my fingers. Anyway, thanks for Scott I live in studio the audience and see the attendance to make some questions to this guy this is quite unique. John, if you want to ask something. Yeah, I'd love to just ask a very quick question. Dr basketball thank you very much excellent presentation and I'm a lawyer by background and experience that with a lot of financial expertise and experience as well. I understand you saying that under the new law that basically any negotiable instrument, then can be in digital form and enforceable. So it's not simply say like the law of Delaware that we found would underpin a promissory note in digital form. But what you're saying is that any negotiable instruments including therefore bills of lading and and other key documents that are involved in international trade. That is correct. Any negotiable instrument which relies on ownership and identity ownership shifts obviously yes can can be digitized can be on blockchain can be on any other platform and we will recognize it. And, and this would also then facilitate presumably collateralization. In other words, yeah, the, the, the really one of the most difficult issues that have has been addressed because of the. Well, I'd say the rather outdated laws in other jurisdictions that encounter and in fact those jurisdictions are starting as you well know, they're starting to relook and reform, but they're nowhere near advanced as what you have described. Thank you. That's correct. We presented to the World Trade Organization, as well as the ICC. And because of the nature of the UAE government, we are currently offering any country if they wanted to test out their national systems, or propose anybody of them to actually test out how it could work. We are very support. Thank you. That's very helpful. I've been involved very much with the development of the back distributed ledger commitment DLPC. And, and also will be involved in further developments in that area but it's most interesting to hear what you've done well done. Thank you. Thanks John. No thank you under. Welcome. Any other else. Any questions to basket. I'm sorry to interrupt again but it does show to me though that the entire world is moving in this direction of digital. So for you to have been really in in front of the curve here. It does show to me that the offer that you've made Dr. Baskar to countries generally should be taken up. I mean, it would really hasten the digitalization effort, which, which is going to become more and more important for us as a global community. I definitely would agree. I mean we work very closely with the United Nations as well in the adoption of the model law. And look, I mean, I've been a trade finance banker for many years and one of the things that pretty much everybody keeps on complaining is the SME financing gap. Over COVID. So, some of the things that we are doing as I've already mentioned, besides the electronic transaction piece is that we are setting up our own SME platform. So the idea is is that as soon as I as a regulator authorized or the company's house equivalent authorize a firm that information is automatically fed into the SME platform. And then they decide a menu of options that they want you want to have an overdraft. You want to have a contract drawn up. You want to have rental properties. You want to have transportation, whatever you want, you can just put it on the platform saying this is what we want. And then what it allows the providers, whether the lawyers or the logistics people or the banks, they know that a regulator has already checked out the SME. And that's what we did. We have checked it out. We are, we are fine ML all those checks have been done. So they have got much more comfort in providing those services to the SME. Number one. Number two is that SME doesn't need to actually run around trying to find suppliers. The suppliers will come to them, and they can come from anywhere in the world. Most pieces, additional services to the SMEs are very easy. They don't have time. So, literally we are, we are pouring in quite a lot of investment into trying to make trade finance and the lives of SMEs much better. You just anticipate my further question, which is, you know, trade finance gap, which is a huge one. It's a big problem in terms of financial inclusion, of course. And it relates to the micro small and medium enterprises, you know, the backbone of international economy, especially in the Mediterranean area and related areas. Is it somehow related, I guess, to what you mentioned, we are deeply focused on ESG as well. I guess so it's perfect combination in terms of financial inclusion. Yeah, let me give you an example. We are at this moment the second largest investor in Africa. Now, besides the investment in roads and transport and things like that, we are also investing very heavily in innovative ways of actually getting financing out to the people who actually need it. Find the free trade agreement was signed, but at the end of the day, you know what show me the money. So there's, for example, a trucking company that one of our funds has invested in and the trucking company itself is providing financing to its suppliers. Yeah. And that is done all electronically. So if you want to have your goods shipped, the goods themselves can be financed by the shipping company, this logistics firm. It's quite innovative anyway as an approach, you know, it's a good one, it's a virtual circle, you know, in fact, it's an old supply chain if you think given liquidity to all the stakeholders involved in this. Absolutely. Absolutely. I think the, what I am seeing is sort of, you know, the next evolution of open account financing. Talking about it trade finance perspective, this is, you don't even have to spend that much amount of time onboarding clients and supply chain finance by its very nature was restricted to what I would call as investment grade clients. Now that more data you have ability to onboard clients much more easily or suppliers or vendors. And the corporate setup for supply chain finances now dropping below the investment grade. Number one, number two financing is much more faster and available. So, yes, so I would, I would definitely agree with you that there are some very, very interesting pieces that are coming in. The main issue that what we found was people do the POCs and then they stop. You do a proof of concept and you stop. I mean, you know, the press releases of the world are stuck full of, we have done a POC, we have done a POC and the reason why it stops going to operationalize is because number one, you don't have the funding. Number two, you don't have the regulatory support. Number three is you don't have a sufficient corpus of corporates who come in. Look at what Swift did with some of its message types, tried for decades. It still didn't get adopted and not enough. So what we bring to the table is investment, the regulation and the fact that we've got corporates as well who are willing to buy into it. So interesting times. Yeah, that you're making in terms of, you know, and this, I think, you know, block chain solutions out of Big Bangler, you know, democratizing access. You know, I used to define them as democracy plays financial inclusion in access to those who were set to pass from this picture. Exactly. Anybody else who love, make questions, otherwise we can close the meeting like this. I'm sorry to ask again, but are you involved also very actively pleased, Dr. Bhaskar, with the development banks, the multilateral development banks. I'm particularly interested in two that I had an involvement, a close involvement with in my career, the Asian Development Bank and the obviously the World Bank Group, the IFC, who've been very keen to develop the MSMEs. And I'm just wondering of your involvement with those entities, please. We haven't to that extent. Although we do host the regional headquarters of World Bank over here, but not at this moment. So John, if you have got any thoughts on how we can collaborate. Sure. Be a World Bank or any other development finance institution. Very, very happy to have a separate call with with you and the others to explore what we can do there. Thank you. Yeah, I think they would also be very interested in what you've been speaking of, particularly with Andrea and your own emphasis on the SMEs or the MSMEs. This, this is. Well, something is in the pipeline, John, so. Excellent. Well, look, let's let's do something on that. I would strongly, I would strongly advise it. It's much needed and those entities will be very receptive. Happy to. Great. Thank you very much folks for your time. Andrea. Thank you for arranging this and please connect me for email or LinkedIn and happy to have a chat. Well, for sure. Thanks for being with us today. It was very good time together. And, you know, thank you so much. As they say, actually, is in Northern Africa. Bye, Julian. Julian and Andrea.