In a key move for Egypt’s automotive market, Dubizzle Group, the UAE-based tech platform behind some of the MENA region’s most widely-used classifieds platforms, such as dubizzle, Bayut and Drive Arabia, has acquired Hatla2ee, one of Egypt’s leading online car marketplaces. With this latest acquisition,… Read More
Qme, a B2B SaaS startup based in Egypt, has reportedly acquired $3 million in a seed funding round that was led by AHOY, a multisector tech company, along with angel investors from the GCC. Qme is an AI-enhanced platform addressing a key issue in MENA,… Read More
Tabby, the MENA’s financial services and shopping app, has reportedly raised $160 million in a Series E round at “a $3.3 billion valuation.” The latest investment round was led by existing investors Blue Pool Capital and Hassana Investment Company, and also drew “additional participation from… Read More
Abu Dhabi Islamic Bank (ADIB) has completed its migration to cloud-native architecture using ZERO footprint topology, becoming the first Islamic bank globally to do so. Additionally, ADIB is reportedly the first bank in the UAE / GCC region to implement Swift’s Alliance Cloud platform. This… Read More
Paymob, the financial services enabler in MENA-P, announces it has been granted the Retail Payment Services License by the Central Bank of the UAE (CBUAE) after meeting all regulatory conditions and requirements through a “rigorous approval process.” The license reportedly authorizes Paymob to provide merchant… Read More
HyperPay, the Saudi payments services provider (PSP) operating in the MENA region, reportedly obtained a license from the Saudi Central Bank (SAMA) in order to support the diversification and development of the financial services ecosystem in KSA. In line or consistent with its strategy to… Read More
Telr, the online payment gateway in the MENA, serving over 30,000 merchants across the region, announced a partnership with Apaya, the commerce automation platform. This partnership combines Telr’s comprehensive payment solutions in the UAE, KSA, Bahrain and Jordan, with Apaya’s no-code commerce automation platform, “enabling… Read More
ADGM, the international financial centre (IFC) of Abu Dhabi, announced another quarter of steady growth, with a number of key achievements for the third quarter (Q3) of 2024 across various metrics. The results are said to underscore ADGM’s role in Abu Dhabi’s strategic goal to… Read More
Tarabut, an open banking platform operating in the MENA region, and Geidea, Saudi Arabia’s payments solutions provider, have entered a strategic partnership to explore and develop SME financing solutions, subject to regulatory approvals. SMEs represent 1.3 million businesses in Saudi Arabia, and they face a… Read More
Many people seemed surprised recently to hear that the UAE had apparently eliminated taxes on crypto, but it has now been clarified that this is not actually the case after all. Here’s the reality of the situation, according to crypto / digital assets industry focused… Read More
The latest DFSA approval unlocks Ripple’s end-to-end payment services in the UAE, boosting Middle East operations. Ripple, the provider of digital asset infrastructure, has secured in-principle approval from the Dubai Financial Services Authority (DFSA) in order to expand its services from the Dubai International Financial… Read More
Amplify Growth Partnership has announced the launch of its growth debt fund. The $100 million fund aims to “provide debt capital to technology focused companies across the MENA region.” The Fund is also pleased to announce “that it has successfully closed its first transaction, deploying… Read More
Majid Al Futtaim, a shopping mall, communities, retail, and leisure pioneer across the MENA region, announced a new partnership with Checkout.com, a global digital payments provider. The agreement will see the 15 million plus customers “that shop Majid Al Futtaim’s online stores each month provided… Read More
United Fintech is increasing its global presence with the opening of a new location in the Dubai International Financial Centre (DIFC). This strategic expansion into the UAE, “spearheaded by Athena, one of United Fintech’s partner companies, is a response to robust market demand and underscores… Read More
CoinMENA B.S.C., a crypto asset platform licensed by the Central Bank of Bahrain and sister company CoinMENA FZE, licensed by the Dubai Virtual Asset Regulatory Authority (VARA), proudly announces a partnership with Zodia Markets, a UK headquartered digital asset trading business, backed by Standard Chartered…. Read More
Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, announced that it has entered into a Memorandum of Understanding (MOU) with King Abdulaziz City for Science and Technology (KACST) to collaborate to advance the Web3 and gaming ecosystem in the… Read More
Mashreq, which claims to be one of the leading financial institutions in the MENA region, has signed a Memorandum of Understanding (MoU) with the UAE-based fintech firm, Fils, in order to “develop a corporate carbon offsetting offering that helps corporate and institutional clients to integrate… Read More
Saudi Tadawul Group Holding Company (STG), a diversified capital markets group in the MENA region, has entered into a binding agreement with existing shareholders of DME Holdings Limited in order to “acquire a 32.6% stake in Dubai Mercantile Exchange (DME), one of the leading international… Read More
Regtech Sumsub has reportedly joined the MENA FinTech Association (MFTA) in order to drive business growth in the MENA region, while “raising identity fraud awareness, and fostering innovation in the fintech sector.” This partnership highlights Sumsub’s commitment “to establishing and strengthening key industry connections and… Read More
The Financial Services Regulatory Authority (FSRA) has announced revisions to its Anti-Money Laundering and Sanctions Rules and Guidance (the AML Rulebook). The FSRA has made revisions that “clarify the requirements that previously appeared in the AML Rulebook, reflecting the federal regulatory framework the UAE has… Read More
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