Tagged: middle east

UAE’s Spades Dine-in Payment Fintech Acquires $2.5M for Expansion Across MENA Region

UAE Money Currency dirhams

There’s no denying that the Middle East is “growing fast” and its restaurant scene is growing “even faster,” according to an update shared with CI. Dining in the UAE means “exploring one of the most diverse, vibrant, and delicious food destinations on the planet.” Restaurants… Read More

Abu Dhabi Commercial Bank has Reportedly Joined UAE Trade Connect Fintech Consortium

UAE Money Currency dirhams

The UAE Trade Connect (UTC) is pleased to confirm that the Abu Dhabi Commercial Bank (ADCB) has joined its consortium of UAE banks “utilizing its blockchain platform to help de-risk trade finance.” UTC is the Fintech blockchain platform of e& enterprises, from e& (formerly known… Read More

DIFC-based Tarabut Gateway Now a Regulated Open Banking Platform in UAE

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Tarabut Gateway has reportedly been granted a license by Dubai Financial Services Authority (DFSA) to offer money services in and from Dubai International Financial Centre (DIFC). DFSA is the independent regulator of financial services in DIFC, which claims to be “the leading global financial center”… Read More

MENA’s Paymob, a Payments Fintech, Announces Collaboration with Pakistan’s Bank Alfalah

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Paymob, which is MENA region’s virtual payments provider, has announced a strategic relationship with Bank Alfalah, in one of Pakistan’s largest Fintech partnerships “to date.” Paymob’s partnership with one of Pakistan’s major private banks will aim to “drive financial inclusion and lead the way for… Read More

Investcorp Introduces First International Institutional Blockchain Fund from Abu Dhabi

ryan miglinczy MENA Middle East Grand Mosque Abu Dhabi UAE

Investcorp, a global alternative investments firm, recently announced the launch of eLydian Lion, which is reportedly the first dedicated institutional blockchain fund based in the GCC, with “a global investment mandate.” The Fund – which will be led from Investcorp’s Abu Dhabi office – will… Read More

MENA Region’s Seed Group Teams Up with PayCargo, a Florida based Logistics Payment Platform

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Seed Group, a subsidiary of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, recently entered a “strategic” alliance with PayCargo, a Florida-headquartered global logistics payment platform, in order “to bring its tried and tested payment technology to the UAE.” As noted in an… Read More

Visa and PopID Form to Introduce Facial Verification Payments in the Middle East

Visa Credit Cards Debit Cards

PopID, a consumer authentication service, and Visa (NYSE: V), a key player in digital payments, announced a partnership “to collaborate on launching facial verification payment acceptance in the Middle East region.” The goal of the partnership is “to provide cardholders with new safe, secure, and… Read More

ADGM Partners with Finastra for International Fintech Hackathon ‘Hack to the Future 4’

Abu Dhabi Global Market ADGM

ADGM will offer participants access to its Digital Lab, which is a “neutral” and “secure” digital environment where Fintech products and services may be tested The Abu Dhabi Global Market (ADGM), an international financial center, has teamed up with financial software firm Finastra for its… Read More

FTX Appoints Marcel Lötscher as Head of Regulatory Strategy for Europe

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FTX Europe recently announced the appointment “per October 1st, 2022” of Dr. Marcel Lötscher, LL.M. MBA, to the newly created position, Head of Regulatory Strategy. Lötscher is being hired to continue FTX’s global expansion into Europe and the Middle East, “giving users in European Economic… Read More

UAE based Mashreq Bank Completes Transition of Payments Division into Wholly-Owned Subsidiary

UAE Money Currency dirhams

Mashreq Bank, a leading financial institution based in the United Arab Emirates, has completed the transition of its payments division into a wholly owned subsidiary, IDFAA Payment Services LLC, with a brand name NEOPAY, supported by Mashreq. NEOPAY, powered by Mashreq Bank, will reportedly leverage… Read More

Checkout.com Issuer Outreach Team Is Minimizing Payments Failure in Saudi Arabia

Saudi Arabia Money

Saudi Arabia is one of the most vibrant and dynamic nations. And as part of its Vision 2030 plan, the country’s government has “set ambitious goals to digitize and transform its economy.” At Checkout.com, they have the privilege of “being an active participant in accelerating… Read More

UAE’s BitOasis Introduces New Digital Asset Trading Features

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Having served a key role in the regional cryptocurrency and blockchain sector since 2015, BitOasis claims to have established its reputation as one of the most “trusted” virtual currency trading platforms in the UAE (and MENA region). Being part of a fast-evolving crypto industry, there… Read More

Fintech Ecosystem in Bahrain has Matured on Many Fronts: Report

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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

UAE Now Under Increased Monitoring, FATF Confirms in March 2022 Update

UAE Money Currency dirhams

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

Sequoia Capital India, Saudi VC Firm STV Lead $54M Round for MENA Fintech Tabby

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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

DIFC Introduces Suggested Amendments to Real Property Law for Consultation

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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

Qatar Fintech Hub Continues to Support Next-Gen Banking with Engaging Hackathons

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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

UAE Fintech Alaan Acquires $2.5M to Expand Multi-Currency Spend Management Platform

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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

Saudi Arabia based Fintech EdfaPay Secures $1.6M via Pre-Seed Round

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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

Digital Banking: Saudi Arabia Wealth Fund PIF backs $440M Virtual Bank

Saudi Arabia Money

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

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