Tagged: mena region

March 10, 2022 @ 9:02 pm By Omar Faridi  |  

The Fintech ecosystem in Bahrain has matured “on many fronts,” according to a new report. As noted in the update, new developments from government, corporate, and investment stakeholders have “created a more conducive environment for local and international startups to grow and scale from the… Read More

March 8, 2022 @ 10:53 am By Omar Faridi  |  

February has seen “a number of regulatory updates,” as well as more reports of growth within the UK Fintech sector, the team at Banking Circle noted. At Banking Circle, they released their new whitepaper, ‘Payments without Barriers: Focus on Denmark’, examining “the potential from improved… Read More

March 7, 2022 @ 11:58 pm By Omar Faridi  |  

Jurisdictions under increased monitoring are “actively working” with the Financial Action Task Force (FATF) to address “strategic deficiencies” in their regimes in order to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it “means the country… Read More

March 7, 2022 @ 10:03 pm By Omar Faridi  |  

Sequoia Capital India and Saudi Arabia based VC company STV have reportedly led a $54 million round for Tabby, which claims to be one of the largest Buy Now, Pay Later (BNPL) providers in the Middle East. As the overall demand for Fintech services continues… Read More

March 6, 2022 @ 6:00 pm By Omar Faridi  |  

The Dubai International Financial Centre (DIFC), a global financial center situated in the MENA and South Asia region, has issued a consultation paper “proposing to amend the Real Property Law, DIFC Law No. 10 of 2018.” The Proposed amendments will aim to “facilitate the administration… Read More

March 5, 2022 @ 7:58 am By Omar Faridi  |  

Qatar Fintech Hub announced that it decided to host the fourth hackathon “to foster innovative ideas in next generation banking” Applications had been open “until 2 March 2022.” As confirmed in the announcement, pitches “take place on 10 March, and winners to be announced by… Read More

March 4, 2022 @ 9:38 pm By Omar Faridi  |  

Dubai-headquartered Fintech firm Alaan has acquired $2.5 million in capital via an investment round. The firm is now coming out of stealth mode. The multi-currency spend management platform developers noted that they would use the proceeds to hire new talent and scale operations across the… Read More

February 21, 2022 @ 11:47 pm By Omar Faridi  |  

Saudi Arabia-headquartered Fintech firm EdfaPay has secured $1.6 million (appr. SAR 6 million) in capital via its latest investment round. The pre-seed investment has reportedly been led by Nuwa capital, InspireUs VC, Wallan Investment group, and angel investors. The proceeds will be a core driver… Read More

February 20, 2022 @ 11:30 am By Omar Faridi  |  

Ahmed Wadi, the Founder and CEO at MoneyFellows, a Cairo-based collaborative Group Lending and Savings Platform, says that he is amazed how the Fintech space evolved over the past couple years. Wadi added that he can’t wait to see homegrown Fintechs “proving to the world… Read More

February 17, 2022 @ 1:17 am By Omar Faridi  |  

Saudi Arabia’s sovereign wealth fund is now an investor in a new virtual bank being launched in the Middle Eastern nation with a capital of SAR 1.65 billion (appr. $440 million). The Saudi cabinet has reportedly approved a license for D360 bank (on Tuesday), the… Read More

February 14, 2022 @ 11:39 pm By Omar Faridi  |  

i2c Inc., a provider of digital payment and banking tech, announced its partnership with KARTY, a Qatar-based Fintech offering tailored digital financial solutions to the MEA region, in order to introduce a digital-first prepaid mobile wallet to the country. Leveraging i2c’s international payments platform, Karty’s… Read More

February 9, 2022 @ 10:47 pm By Omar Faridi  |  

Thndr, the Egyptian digital investment platform, announces a new $20 million Series A investment. Thndr’s investment round was co-led by Tiger Global, BECO Capital and Prosus Ventures, in addition to participation from Base Capital, firstminute and existing investors Endure Capital, 4DX Ventures, Raba Partnerships and… Read More

January 31, 2022 @ 10:37 pm By Omar Faridi  |  

Spendwisor Inc. has entered into an agreement with Gem Global Yield LLC SCS (GEM) in order to boost the existing facility size from QAR 190 million (appr. $50 million) to QAR 310 million (appr. $85 million). As mentioned in the update, this serves as a… Read More

January 29, 2022 @ 4:59 pm By Omar Faridi  |  

The ICICB Group claims that it has an established track record of launching innovative businesses and propositions with consistency. The Group is known for reviewing the scope of possibilities, from initial strategy to technical development. As mentioned in an update shared by the ICICB Group,… Read More

January 26, 2022 @ 2:36 am By Omar Faridi  |  

Around 500,000 new merchants across the MENA region will soon be able to take advantage of seamless and convenient virtual payment acceptance via Network International’s Tap on Phone tech, which enables smartphones to serve as payment terminals. The project represents a key milestone between Mastercard… Read More

January 25, 2022 @ 10:57 pm By Omar Faridi  |  

Al Rajhi Bank Malaysia (ARBM), a wholly-owned subsidiary of one of the world’s largest Islamic banks in terms of assets, Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA), has chosen Thought Machine, the Cloud native core banking tech company, in order to power… Read More

January 24, 2022 @ 9:42 pm By Omar Faridi  |  

Sequoia Capital has reportedly made its first investment in the Gulf / MENA region by leading an investment round for Lean Technologies, a Saudi Arabia-based Fintech company whose founders include the son of the kingdom’s former oil minister, Khalid Al-Falih. Lean Technologies, which allows firms… Read More

January 23, 2022 @ 9:32 pm By Omar Faridi  |  

Wa’ed, the entrepreneurship division of Saudi Aramco, has been working with Fintech Saudi as a key partner, along with local seed and early-stage VC company Flat6Labs, in order to introduce a 12-week Fintech Accelerator program. The new Fintech Accelerator will focus on supporting the ongoing… Read More

January 13, 2022 @ 10:11 pm By Omar Faridi  |  

Capital Banking Solutions is pleased to confirm the successful go-live of IMEIB on its digital banking platform, CapitalDigital. This implementation for IMEIB will provide their customers with a unique virtual banking and mobile banking experience. As mentioned in the update, the bank will enable its… Read More

January 11, 2022 @ 4:12 pm By Omar Faridi  |  

Financial services have become a lot more accessible, seamless, and user-friendly in the past decade due largely to the rise of innovative Fintech platforms throughout the world. Traditional banking service providers have launched their own digital transformation strategies in order to remain competitive in a… Read More