Tagged: dubai

July 6, 2020 @ 12:19 pm By JD Alois  |  

Multiple reports indicate that Wirecard’s (WDI:DE) top person in Dubai has been arrested. According to Reuters, the Munich prosecutor “questioned the chief executive of Cardsystems Middle East FZ-LLC earlier in the day and arrested him on the basis of a warrant.” The unnamed executive reportedly… Read More

July 2, 2020 @ 7:48 am By Omar Faridi  |  

The central bank of the United Arab Emirates (UAE) and the Abu Dhabi Global Market, an international financial center and free zone based on the Al Maryah Island in the nation’s capital, Abu Dhabi, noted on July 1, 2020, that they’re inviting Fintech firms to… Read More

June 27, 2020 @ 5:11 pm By Omar Faridi  |  

Dubai is consistently ranked among the world’s leading Fintech hubs. Fintechs in Dubai have been supported by the UAE (United Arab Emirates) government which has introduced many progressive policies and regulations. In statements shared with the Khaleej Times, Arif Amiri, CEO at the Dubai International… Read More

June 26, 2020 @ 12:15 am By Omar Faridi  |  

Fintech firms based in India and the United Arab Emirates (UAE) plan to continue working cooperatively in order to address key socio-economic changes and challenges resulting from the global COVID-19 outbreak. India and UAE’s financial hub Dubai aim to stay on top of major changes… Read More

June 13, 2020 @ 11:45 am By Omar Faridi  |  

Dubai-based Tpay Mobile, a mobile payment provider, has reportedly acquired Payguru, a Turkish payments company. The amount paid for the acquisition has not been disclosed. Payguru supports mobile payments, ATM cash payments, and standard bank transfer services. The company has integrated its platform with three… Read More

June 10, 2020 @ 9:48 pm By Omar Faridi  |  

  The Dubai International Financial Centre (DIFC), an organization that connects the MENA and Southeast Asia region’s markets with the economies of Europe, Asia, and the Americas, has made strategic investments in four Fintech companies. According to a press release, the DIFC has invested in… Read More

June 2, 2020 @ 1:33 am By Omar Faridi  |  

United Arab Emirates (UAE)-based Rise, a Fintech firm that offers various financial services to low-income migrants in the Middle East region and recently acquired $1.4 million in capital for ongoing development, has partnered with Pakistani e-commerce firm HomeShopping.pk. Through the partnership, the companies will launch… Read More

May 18, 2020 @ 11:33 pm By Omar Faridi  |  

The Fintech sector will get stronger due to the COVID-19 outbreak, as more consumers begin using digital payments platforms and also as more people start working remotely, according to a new report from the Dubai Future Foundation (DFF). The report noted: “This sector will successfully… Read More

May 13, 2020 @ 10:41 am By Samantha Hurst  |  

Independent financial advisory organization deVere Group announced on Wednesday it is set to develop a major digital finance operation from Dubai. CEO and Founder of the deVere Group, Nigel Green, confirmed the news by stating that in order for him and his team to meet… Read More

May 11, 2020 @ 2:16 pm By Omar Faridi  |  

United Arab Emirates (UAE)-based Fintech firm Spotii has introduced its shop now (or buy now) pay later platform. The credit is provided at “no interest, no cost.” Spotii has teamed up with various online merchants, allowing them to provide four “cost-free” installments to customers when… Read More

April 27, 2020 @ 11:12 pm By Omar Faridi  |  

Global Ventures, a Dubai-based venture capital firm that recently finalized a $50 million investment round, has released a new report that discusses the state of Fintech in the Middle East region. Global Ventures’ extensive 59-page report covers the ongoing growth and development of the Fintech… Read More

April 13, 2020 @ 10:37 pm By Omar Faridi  |  

Dubai-based Global Ventures, a venture capital firm established by Noor Sweid who was previously involved with the Dubai Future Foundation and Leap Ventures, has secured $50 million in capital. This, according to Basil Moftah, the firm’s managing partner, who shared the details of the investment… Read More

April 8, 2020 @ 9:38 am By Omar Faridi  |  

Dubai-based Mamo Pay, a Fintech firm established by former Google employees, has secured  $1.5 million in capital, in order to streamline peer to peer (P2P) payments in the United Arab Emirates and wider Middle East region. As reported by Mena Bytes, Mamo Pay’s seed investment… Read More

March 24, 2020 @ 1:05 am By Omar Faridi  |  

Dubai-headquartered Fintech firm Rise has secured funding via an investment round led by Middle East Venture Partners (MEVP). The round was carried out through a partnership with Dubai International Financial Centre (DIFC) Fintech Fund, 500 Startups, Khwarizmi Ventures and Phoenician Funds. The amount invested has… Read More

March 10, 2020 @ 12:57 am By Omar Faridi  |  

The financial sector in Dubai will be expanding at a gradual pace and only if there is enough demand for new platforms and services, according to the local financial district’s governor. The state-owned Dubai International Financial Centre (DIFC) began expanding its operations in 2019. It’s… Read More

March 2, 2020 @ 7:30 am By Omar Faridi  |  

The Dubai International Financial Center (DIFC) has committed to a memorandum of understanding (MOU) with Singapore’s Tribe Accelerator, a government-backed blockchain or distributed ledger technology (DLT) project accelerator. According to the terms of the MoU, the DIFC and Tribe Accelerator aim to work cooperatively on… Read More

March 2, 2020 @ 12:35 am By Omar Faridi  |  

Monaco-based Fintech Privatam is expanding its operations by offering its services in Dubai. The company notes that the Middle Eastern city is a major regional financial and commercial hub and a key contributor to global capital markets.  Privatam’s founders (who are fellow investment bankers) include… Read More

February 17, 2020 @ 8:27 am By Omar Faridi  |  

Dubai Multi Commodities Center (DMCC), an organization formed in 2002 by Dubai’s government to offer physical, market and financial infrastructure needed to establish a hub for global commodities trade, has committed to strategic membership agreement with Al Khaleej Sugar and Universa Blockchain.  According to the… Read More

January 29, 2020 @ 9:09 am By Omar Faridi  |  

Dubai-headquartered Sarwa confirmed on January 27 that it had finalized an $8.4 million Series A investment round, which was led by Kuwait Projects Company (KIPCO). The firm’s hybrid automated investment platform aims to simplify the process of investing while making it more affordable. Sarwa’s platform… Read More

January 25, 2020 @ 11:02 am By Omar Faridi  |  

Dubai International Financial Centre (DIFC) Fintech Hive has announced the introduction of their investment-focused accelerator program for startups and other small companies in the Middle East, Africa and South Asia (MEASA) regions. The Fintech Hive Scale Up program will provide partnership and investment opportunities for… Read More