A legal consultancy has published a report on the regulatory environment for Fintechs in the MENA region.
While digital finance is the future of all financial services, the emergence and regulation of various services have differed worldwide. KARM Legal Consultants has crafted a “Fintech Legal Compass” to highlight the various regulations in the region, determining that the UAE is the leader in Fintech development.
According to KARM, UAE is home to more than 800 Fintech startups, valued at $15.5 billion in aggregate. The report claims that this is largely due to the “proactive regulatory approach and strong infrastructure” in the UAE, which has fostered a “thriving Fintech ecosystem.”
The report anticipates that the UAE Fintech market is will grow at a CAGR of over 10% by 2028.
The report is available for download after you hand over your contact information on the KARM website.