Tagged: mena

May 28, 2023 @ 8:44 pm By Omar Faridi  |  

Abu Dhabi Islamic Bank (ADIB) has reportedly become the first bank in the UAE to provide small and medium-sized enterprises (SMEs) “with convenient remote account opening services through a mobile app by deploying Emirates Face Recognition (EFR) technology.” This new feature will “allow businesses to… Read More

May 25, 2023 @ 10:00 pm By Omar Faridi  |  

D360 Bank, Saudi Arabia’s innovative new digital bank is pleased to announce its partnership with Thunes, a global cross-border payment infrastructure platform. This collaboration will “empower D360 Bank’s customers in Saudi Arabia to make fast and cost-effective B2B business payments and international remittances worldwide.” Additionally,… Read More

May 25, 2023 @ 9:52 pm By Omar Faridi  |  

SAB has announced its collaboration with Ottu, a fast-growing payment fintech, to enhance its Digital Payments Solution. This partnership will “provide SAB merchants with an Online Payment Management Solution (OPMS) using direct integration with the payment gateways provided by SAB.” This collaboration aims “to simplify… Read More

May 24, 2023 @ 11:17 pm By Omar Faridi  |  

Checkout.com, the global payments service provider, has been granted a Retail Payment Services license from the Central Bank of the United Arab Emirates. This makes Checkout.com the first global payments provider “to be granted an acquiring license in the country, further cementing its position as… Read More

May 22, 2023 @ 5:18 pm By Omar Faridi  |  

PayTabs, MEASA’s payment solutions provider, today announced a strategic partnership with FlapKap, MENA’s revenue-based financing platform. The collaboration between the two firms aims “to support new and existing PayTabs entrepreneurs, webpreneurs and small and medium e-commerce businesses (SMEs) based in the UAE to obtain a… Read More

May 16, 2023 @ 10:09 pm By Omar Faridi  |  

Emirates Islamic, which claims to be one of the leading Islamic financial institutions in the UAE, has launched the new Emarati Absher Business Account designed exclusively “to provide a comprehensive suite of premium banking solutions for Emarati start-ups in the UAE.” The new business banking… Read More

May 14, 2023 @ 12:06 pm By Omar Faridi  |  

On the back of strong growth in the Middle East, Ripple, the enterprise blockchain and crypto solutions provider, is expanding its presence in Dubai by “opening a new office location in the heart of Dubai International Financial Centre (DIFC) and bringing Swell Global 2023, the… Read More

May 12, 2023 @ 7:05 pm By Omar Faridi  |  

ABHI, which claims to be a growing embedded finance platform in the MENAP region, announces it has made history by issuing Islamic bonds worth PKR 2 billion (US$7.1 million). The bond issue is considered to be “a significant milestone for both ABHI, and the region,… Read More

May 11, 2023 @ 1:29 pm By Omar Faridi  |  

Standard Chartered (LON: STAN) has signed a memorandum of understanding (MoU) with Dubai International Financial Centre (DIFC) in order “to collaborate on digital assets, including digital asset custody.” Subject to regulatory approval, Standard Chartered plans “to launch digital asset custody services, starting in DIFC and… Read More

May 9, 2023 @ 10:36 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) seeks public consultation on the draft “Rules for Regulating Buy Now Pay later (BNPL) Companies.” In the interest of transparency and wider participation, SAMA reportedly “invites stakeholders and public to provide suggestions and observations on the draft Rules by visiting… Read More

May 8, 2023 @ 11:21 pm By Omar Faridi  |  

Global payments provider Checkout.com has entered an agreement with Mamo, the fintech powering payments for SMEs across MENA, making Checkout.com the payments provider of choice for their flagship product Mamo Business. This deal further supports Mamo’s mission “to accelerate the growth of SMEs in the… Read More

May 5, 2023 @ 8:21 am By Omar Faridi  |  

Tarabut Gateway, which claims to be one of MENA’s leading open banking platforms, announces the completion of a US$32 million Series A fundraise. The investment round was “led by Pinnacle Capital, a leading alternative investment firm that focuses on KSA investments to provide unique alternative… Read More

May 3, 2023 @ 10:21 pm By Omar Faridi  |  

ADIA Lab, the Abu Dhabi-based institute dedicated to basic and applied research in data and computational sciences, has partnered with CrunchDAO, a research team of data scientists leveraging Web3 and machine learning to produce next-generation financial insights, “to launch the ADIA Lab Market Prediction competition… Read More

May 3, 2023 @ 5:06 pm By Omar Faridi  |  

Following the Investor and Marketplace Alert dated 12 April 2023 in relation to opnx.com (OPNX) conducting unregulated activity, Dubai’s Virtual Assets Regulatory Authority (VARA) has issued “a formal Letter of Reprimand to OPNX and its founders” for the following: Carrying out VA Exchange Services on… Read More

April 27, 2023 @ 5:57 pm By Omar Faridi  |  

Continuing to build its footprint as a leading global acquirer, global financial technology firm FIS (NYSE: FIS) has announced its Worldpay merchant business will be “expanding its payment processing capabilities into the United Arab Emirates (UAE) this year.” Worldpay has “secured a category II payment… Read More

April 13, 2023 @ 10:16 pm By Omar Faridi  |  

Nium, the global payments infrastructure for the on-demand economy, announced the appointment of Anupam Pahuja to EVP and General Manager of Asia Pacific, MENA. Pahuja will “build on Nium’s success in Southeast Asia, where the fintech unicorn was founded, and will quickly expand Nium’s presence… Read More

April 11, 2023 @ 10:30 pm By Omar Faridi  |  

Republic Crypto, part of US-based securities crowdfunding firm Republic, has “expanded to the UAE with an aim to grow its presence and offer its services across the MENA region.” Republic Crypto is partnering with Ghaf Labs, a UAE-based incubator in supporting blockchain-based firms. Ghaf Labs… Read More

April 11, 2023 @ 10:15 pm By Omar Faridi  |  

FYST, a “one-stop” payments consultancy for ecommerce businesses, has released the first part of a new three-part report, ‘The Map of World Payments’, that drills deep into ecommerce payment trends, with this instalment focusing on the MENA region, and shows how merchants serving these regions… Read More

April 6, 2023 @ 10:43 pm By Omar Faridi  |  

The Central Bank of the UAE (CBUAE) has launched its Central Bank Digital Currency (CBDC) Implementation Strategy in collaboration with R3, G42 Cloud and Clifford Chance. For Phase 1, R3 and G42 Cloud have been “selected as the technology and infrastructure providers of the initiative… Read More

April 5, 2023 @ 9:53 pm By Omar Faridi  |  

Temenos (SIX: TEMN) announced that Saudi Export-Import Bank (Saudi EXIM Bank) has implemented Temenos core banking platform, going live in just six months. Temenos enables Saudi EXIM Bank “to drive operational and financial efficiency, making it faster and easier for businesses to access trade finance,… Read More