Tagged: mena

Israel based Fintech Fintica Teams Up with UAE-headquartered CEO of Barker and Booth

Mohammed Al Beloushi, CEO at Barker and Booth Commercial Agency LLC, has confirmed that his company will make a strategic investment into the operations of Israel-based Fintech firm Fintica AI LLC, a deal made after the signing of the Abraham Accords – which is the… Read More

Egypt’s Financial Regulatory Authority Approves Draft of Laws to Regulate Fintech in Non-Banking Financial Sector

The Financial Regulatory Authority’s (FRA) Board of Directors in Egypt has reportedly approved a draft law that aims to regulate and support the use of Fintech services in the non-banking financial sector. Mohamed Omran, Chairman at the FRA, noted that the approval will aim to… Read More

UAE’s Ministry of Finance Partners with Local Banks to Offer Digital and Contactless Payments for Settling Government Service Fees

The UAE’s Ministry of Finance will be working with the First Abu Dhabi Bank (FAB) in order to launch electronic or digital Dirham contactless payments cards for settling governmental service charges. The eDirham has been set up as a system of digital channels that are… Read More

Singapore Fintech 360F Plans to Accelerate Digital Transformation for Insurance Service Providers in the Middle East

Singapore based Fintech firm 360F aims to accelerate digital transformation for insurance service providers in the Middle East. As mentioned in a release shared with Crowdfund Insider, 360F is financial technology company that provides various solutions and implementation services to banks to enable “digital multi-channel… Read More

DAPI, a MENA Region Service for leveraging Open Banking to Enhance Payments via Fintech Apps, Writes Open Letter to UAE’s Bankers

The team at DAPI, the first financial API in the MENA region that allows financial technology apps to leverage Open Banking by facilitating digital payments and accessing real-time banking data, have written an open letter to the UAE Bank Federation Advisory Council. The letter, which… Read More

UAE’s Buy Now Pay Later Fintech Spotii to Support Business Growth with Microsoft AppSource by using its Network to Co-Market Services

Dubai’s Buy Now Pay Later (BNPL) Fintech firm Spotii has officially launched on Microsoft AppSource, which is an app store and online marketplace for companies using various Microsoft products. Spotii’s digital platform allows fashion, beauty, and lifestyle retail outlets to provide more flexible payment plans… Read More

Dubai International Financial Centre to Continue Working with Local Organizations on Fintech Projects

The Dubai International Financial Centre (DIFC), which serves as an global financial hub in the MENA and South Asia region, has signed a Memorandum of Understanding (MoU) with the Dubai Future Foundation (DFF). Both organizations have agreed to focus on supporting innovative Fintech projects in… Read More

Small Businesses in the UAE have been Hit Really Hard due to COVID-19, According to MENA Region Fintech Industry Executive

The MENA region’s digital payments sector is projected to grow by 6.5% from 2020 to 2021. The Coronavirus crisis may have accelerated the shift towards the adoption of all-digital platforms and services, including virtual payments. The MENA region’s Fintech industry participants recently noted that the… Read More

Bahrain to Introduce Regulations for E-Commerce Businesses which Support Nation’s Digital Transformation Strategy

The Middle Eastern country of Bahrain has identified key focus areas to further develop its economy. The nation’s government has outlined a national strategy for supporting digital commerce. Zayed Alazayani, the Industry, Commerce and Tourism Minister, stated that the Kingdom will be introducing new laws… Read More

Egyptian Digital Payments Provider, Fawry, Experiences Record Growth Following COVID-19 Outbreak

Fawry for Banking & Payment Technology Services SAE, an Egyptian digital payments provider, was listed on Cairo’s exchange about a year back. The company recently experienced a 300% increase in its market value to 20 billion Egyptian pounds (appr. $1.3 billion). The payments firm confirmed… Read More

Mastercard Partners with Qatar Development Bank to Support Development of Nation’s Fintech Sector

Payments giant Mastercard has teamed up with the Qatar Development Bank (QDB) in order to support the ongoing development of the nation’s Fintech sector. Through the partnership, Mastercard and QDB will support the Qatar Fintech Hub (QFTH), which is a technology ecosystem that aims to… Read More

Kokila Alagh: Founder of KARM Legal, Member of MENA Fintech Board, Discusses Role of Emerging Tech in Streamlining Middle Eastern Businesses

Kokila Alagh, Founder of KARM Legal and a member of the MENA Fintech board, recently shared the latest updates from the Middle East region, including the United Arab Emirates (UAE) with Crowdfund Insider. Alagh works closely with the Arab Monetary Fund (AMF), the Dubai International… Read More

MENA Region Is Ideal for Fintech Startups because it’s home to Millions of Young, Tech-Savvy Consumers

The Fintech industry in the Middle East and wider MENA region has experienced significant growth during the past several years. The State of Fintech report reveals that the number of financial technology companies in the Middle East was expected to increase from around 105 in… Read More

Contactless Transactions are Expected to Double the Number of Digital Payments to $8.26 Trillion by 2024: Report

Contactless transactions are expected to double the number of digital payments to $8.26 trillion by 2024, which is a key Fintech trend that has been accelerated due to COVID-19. Businesses are increasingly using contactless technology to improve customer experience and help them make secure payments,… Read More

Fintech and Digital Solutions Provider Thales to Assist Commercial Bank of Kuwait with Offering Secure Contactless Payments

Digital solutions provider Thales is reportedly supplying the Commercial Bank of Kuwait (CBK) with its Gemalto Trusted Services Hub (TSH), which will allow the bank’s customers to perform secure contactless payments from their smartphones. According to a release, a tokenization process will be used to… Read More

Digitization and Growth in India and UAE’s Fintech, Healthtech Sectors will Lead to Key Changes in Financial and Medical Services, Industry Exec Says

Sameer Nawani, Chief Representative of the Dubai Chamber’s International Office in Mumbai, has noted that the digitization and ongoing growth in technology will lead to significant changes in financial and healthcare services. Nawani, whose comments came during a recent webinar about the impact of COVID-19… Read More

MENA Region Is Experiencing Strong Revival of Digital Commerce and Virtual Payments Sector, Industry Exec Reveals

The MENA region is reportedly experiencing a strong revival of its digital commerce and virtual payments sector, particularly during the past quarter of this year. This key Fintech trend is expected to continue and also keep up its current growth rate in the coming years,… Read More

Digital Transformation: Egypt’s Largest Bank Inroduces New Services to Support Virtual Banking following COVID-19 Outbreak

The National Bank of Egypt (NBE), the country’s largest banking institution in terms of total assets, number of branches and employees, has introduced several services via its Al Ahly Net and NBE mobile app, in order to support its digital banking strategy. Hisham Okasha, chairman… Read More

Open Banking Is Increasingly Being Adopted by Fintech Sector in Bahrain and the MENA Region

Bahrain introduced its first Open Banking product for the MENA region during December of last year. The central bank of Bahrain is among the first major institutions in the Middle East to propose and create regulations that require the adoption of Open Banking technologies by… Read More

Dubai’s Department of Economic Development Launches UAE KYC Blockchain Platform

Dubai Economy (Dubai Department of Economic Development or DED) and Emirates NBD, a leading banking group in the MENAT region (Middle East, North Africa, and Turkey), have announced the go-live of the UAE KYC Blockchain Platform. The project is described as an initiative that facilitates… Read More

Send this to a friend