Tagged: middle east

Neobanks are Making Inroads in the United Arab Emirates with Fintech Adoption Rising in MENA: Report

The United Arab Emirates (UAE) ranked first among the Arab nations in FinxAr. As covered, the Arab Monetary Fund introduced the Index of Modern Financial Technologies in the Arab countries (called the FinxAr). The index aims to provide insights on the ongoing developments in the… Read More

Saudi Arabia based Fintech Geidea, which Supports Small Businesses, Appoints Nick Ogden to its Board of Directors

Geidea, one of the largest Fintechs in Saudi Arabia in terms of market share, has reportedly appointed the global financial services and Fintech-focused professional Nick Ogden to the company’s Board of Directors. Geidea’s management states: “Supporting small businesses to succeed is at the heart of… Read More

Spendwisor, a Mobile Payment App with US, UK, Qatar Offices, Secures $50M from Luxembourg’s GEM Global Yield

Spendwisor, a US-headquartered mobile payment app with business offices and service locations in Qatar and the United Kingdom, has confirmed a QAR 190 million ($50 million) investment commitment from GEM Global Yield, a $3.4 billion Luxembourg-headquartered private alternative investment group. The company plans to use… Read More

Mobile-Only, Shariah Compliant Banking Solution Introduced by Boubyan Bank in the UK

Boubyan Bank has introduced a mobile-only, Sharia-compliant banking solution in the United Kingdom. The platform will aim to address the requirements of individuals residing in the Middle East who may have international banking needs. As noted in the announcement, Nomo will be providing a new… Read More

Bahrain Fintech Bay, US State Dept’s MEPI Supported Build for Bahrain Acceleration Program, Winners Announced

The Build for Bahrain Acceleration Program, held in partnership with Bahrain Fintech Bay and the US State Department’s MEPI, has now ended with the three winning teams successfully completing the acceleration program and 3-month incubation period (held at Bahrain FinTech Bay). The program (in Bahrain)… Read More

FinaMaze, the MENA Region Digital Wealth Manager, Introduces Cryptocurrency and “Inflation Protection” Investment Options

FinaMaze, the MENA region digital wealth management platform, has introduced two new investment themes: Cryptocurrency and “Inflation Protection.” These new investment opportunities aim to complement FinaMaze’s existing suite of products including China “Dragon Tech Leaders” and “Covid-related” smartfolios, along with the firm’s  traditional cross-asset class… Read More

Saudi Arabia Grants Digital Banking License to STC Pay, a Virtual Payments Solution Provider

The Saudi cabinet has reportedly granted a digital banking permit to STC Pay, a virtual payments solution provider that’s a wholly owned subsidiary of Saudi Telecom. STC Pay will now be converted into a domestic virtual bank, with a capital of SAR 2.5 billion (appr…. Read More

Saudi Arabia based Fintech Tweeq, Provider of Spending Accounts for SMEs, Secures Investment from STV, Raed Ventures

Saudi Arabia-based Tweeq, a provider of spending accounts for individuals and small businesses operating across the country, revealed that it has finalized an undisclosed seven-figure funding round, which has been co-led by STV and Raed Ventures. As noted by the company’s management: “Our mission is… Read More

Mubadala Capital backed BNPL Fintech tabby Acquires Debt Financing to Expand MENA Region Operations

A Mubadala-backed Fintech firm in Dubai has acquired a substantial amount of debt financing. This new round of funding for tabby reveals that Buy Now, Pay Later or BNPL companies are attracting a lot of business as the Fintech sector evolves rapidly with a rise… Read More

Visa Confirms Appointment of Dr. Saeeda Jaffar As Group Country Manager, SVP for GCC Region

Visa (NYSE: V) has confirmed the appointment of Dr. Saeeda Jaffar as Group Country Manager, and SVP for its operations across the Gulf Cooperation Council (GCC) region. Dr. Jaffar will reportedly be joining the digital payments leader to manage and oversee its presence in six… Read More

Amazon Payment Services, a Payments Processing Provider for MENA Region, Introduces Fintech Lab in DIFC Innovation Hub

Amazon Payment Services, a payment processing service for the MENA region, has introduced the Amazon Fintech Lab in the DIFC Innovation Hub. The project is reportedly the latest in Amazon Payment Services’ efforts to provide support to the Fintech ecosystem in the MENA region. The… Read More

Fintech Firm Islamic Finance Initiation Network Introduces Operations in Oman After Partnering Alizz Islamic Bank

IFIN (Islamic Finance Initiation Network), the Islamic Fintech firm, has introduced its operations in the Sultanate of Oman by teaming up with Alizz Islamic Bank and Danube Home. Bahrain-based IFIN, a company that digitally connects Islamic finance service providers to retail outlets, aims to offer… Read More

Fintech, AI, Data Science Startups Investor Planet N Receives Investment from Pakistan Kuwait Investment Co.

Pakistan Kuwait Investment Company (Private) Ltd (PKIC) recently made a PKR 500 million (appr. $3 million) equity investment into Planet N (Private) Ltd in order to support the fast-evolving startup sector in Pakistan. The new investment is reportedly part of Planet N’s $10 million funding… Read More

API Infrastructure Firm M2P Solutions Receives Visa Ready Certification, Will Work with MENA Region Banks

M2P Solutions, the API Infrastructure firm that launched operations earlier in 2021 with Abu Dhabi as one of its headquarters, has received its Visa Ready-certification which should help the company with working cooperatively with banks that are based in the MENA region.  The company will… Read More

Netherlands based Adyen, a Global Payments Fintech, to Expand Local Acquiring Services in UAE

Adyen (AMS: ADYEN), a global payments solution provider based in the Netherlands, recently revealed that it’s expanding its local acquiring services to the United Arab Emirates (UAE). With acquiring capabilities now available in the UAE, Adyen aims to offer local and global companies with an… Read More

Qatar based Payments Fintech Dibsy Secures $300,000 via Pre-Seed Round led by Salem Khalaf Al Mannai

Qatar-headquartered Fintech firm Dibsy has acquired $300,000 through a pre-seed round that was led by Salem Khalaf Al Mannai along with participation from several angel investors. Dibsy’s management reveals that their investment round was finalized in late 2020. The Dibsy team notes: “Our brand is… Read More

Bahrain’s NEC Payments Chooses Netcetera’s Payment Security Protocol

Bahrain’s payment services provider NEC Payments has reportedly chosen Netcetera for its 3DS 2.0 solution, a payments security protocol. NEC Payments is a fast-growing digital banking and payment tech firm that provides Cloud-based banking-as-a-service (BaaS) solutions in the Middle East. NEC Payments is focused on… Read More

Abu Dhabi’s Fintech PayBy to Offer Contactless Payments Options to Al Maya Group Supermarkets in UAE

Abu Dhabi-based PayBy, a payments startup, has teamed up with Al Maya Group in order to offer the latter with secure, contactless payment options across 49 of its supermarkets in the United Arab Emirates (UAE). When shopping at Al Maya supermarkets, customers will be able… Read More

Dubai Next, a New Digital Platform, to Allow SMEs in UAE to Raise Capital via Crowdfunding

A new digital platform called Dubai Next has been introduced in the United Arab Emirates (UAE) in order to allow innovators and business entrepreneurs of any nationality to acquire capital to launch their initiatives. The Dubai Next platform went live earlier this month (on Wednesday,… Read More

British Ambassador Jonathan Wilks Says Qatar and UK to Focus on Digital Commerce, Fintech Partnerships

Total trade volume between Qatar and the United Kingdom reportedly reached £7 billion last year, even though there were restrictions in place (partly due to COVID). The strong trading activity is also being reported after various challenges related to the pandemic and resulting socioeconomic uncertainty,… Read More

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