Tagged: middle east

November 26, 2021 @ 11:11 am By Omar Faridi  |  

The National Bank of Kuwait has introduced Weyay, which is reportedly the Middle Eastern country’s first completely digital bank (will focus on serving younger clients). At present, the Fintech and virtual banking app is in beta testing and has been introduced at the pre-registration stage…. Read More

November 22, 2021 @ 8:31 pm By Omar Faridi  |  

GCC-headquartered early-stage VC company VentureSouq has introduced a $50 million MENA region Fintech Fund I. As mentioned in the announcement, the MENA Fintech Fund I is the first sector-wide Fintech-focused fund to be introduced across the Middle East area and Pakistan. The new Fund is… Read More

November 21, 2021 @ 3:27 pm By Omar Faridi  |  

UK-headquartered Nomod, a payments Fintech with a sharp focus on the MENA region, confirmed earlier this week that it has secured $3.4 million via a seed round. Nomod’s latest investment round takes the Fintech firm’s valuation to $50 million. The company has received investments from… Read More

November 15, 2021 @ 10:32 pm By Omar Faridi  |  

The Central Bank of the UAE (CBUAE) and Bank Indonesia (the Central Bank of the Republic of Indonesia) have reportedly entered a Memorandum of Understanding (MoU) in order to expand mutual co-operation. The bilateral MoU will be including three key areas, focusing on digital innovation… Read More

November 15, 2021 @ 10:27 pm By Omar Faridi  |  

Sarwa has confirmed the launch of Sarwa Trade, which is a zero-commission, zero-transfer-fee trading platform. Sarwa customers are able to trade stocks and exchange-traded-funds (ETFs) via an intuitive mobile app — with no commissions, no international transfer fees “from local AED accounts, and no minimum… Read More

November 14, 2021 @ 8:04 pm By Omar Faridi  |  

Bahrain-based digital asset trading platform CoinMENA has acquired $9.5 million via a seed round. @CoinMENA Raises $9.5M Seed Fund #CoinMENA #Blockchain #Cryptocurrency #Crypto #DeFi https://t.co/vVH1vVj6ED pic.twitter.com/V05Ii2CabS — Blockchain Recruiter – Jordan & Blockchain Bully (@JobsBlockhain) November 12, 2021 As mentioned in the announcement, this is… Read More

November 8, 2021 @ 7:52 pm By Omar Faridi  |  

India-headquartered software-as-a-service (SaaS) Fintech ClearTax has acquired $75 million in funding via a Series C round. ClearTax’s investment round has been finalized in order to support the firm’s business expansion into the MENA region. The company said it would also enable ClearTax to further diversify… Read More

November 8, 2021 @ 1:04 pm By Omar Faridi  |  

Dubai-based Open Banking firm Tarabut Gateway recently secured $12 million in capital via a pre-Series A round. Tarabut Gateway’s investment round has reportedly been led by Tiger Global. Other investors made contributions as well, including new backers Dubai International Fintech Fund, which is an investment… Read More

November 4, 2021 @ 9:01 pm By Omar Faridi  |  

Saudi British Bank (SABB) has announced the launch of its Instant Cross-Border Transfer Service for the United States Corridor via the blockchain payment tech powered by Ripple. The launch of this service was confirmed during the fifth edition of “The Future Investment Initiative Institute” led… Read More

November 1, 2021 @ 7:52 pm By Omar Faridi  |  

The Qatar Fintech Hub (QFTH) recently shared the list of 16 Fintech firms that will be joining Wave 3 of its incubator and accelerator program. Established by the Qatar Development Bank (QDB), the QFTH is responsible for running an incubator and an accelerator program in… Read More

October 25, 2021 @ 9:46 pm By Omar Faridi  |  

Fintech Galaxy, the UAE-headquartered open innovation platform, has acquired $2 million in seed funding in order to further enhance the development and rollout of its Open Finance platform, as it looks to further expand its reach and support financial inclusion across the MENA region. Fintech… Read More

October 23, 2021 @ 9:37 am By Omar Faridi  |  

Over 70 financial institutions have reportedly worked with Valk‘s digital transaction and tokenization platform this year. Private market digital platform VALK says that it is “building for expansion after achieving over $4 billion in assets and deals managed on its platform in a year” as… Read More

October 21, 2021 @ 10:36 pm By Omar Faridi  |  

The team at Fintech firm Ripple is pleased to confirm that UAE-headquartered foreign exchange and worldwide money transfer firm, Al Ansari Exchange has joined RippleNet. Via RippleNet Cloud, which is Ripple’s international Cloud-powered financial network tech, Al Ansari Exchange will be connecting with major money… Read More

October 18, 2021 @ 10:07 pm By Omar Faridi  |  

The Central Bank of the UAE (CBUAE) signed an agreement with Dubai International Financial Centre (DIFC), the international financial center in the MEASA region, in order to collaborate on the development and growth of the UAE’s Fintech sector “through joint initiatives and activities.” The agreement… Read More

October 11, 2021 @ 2:43 pm By Omar Faridi  |  

Morgan Stanley (NYSE: MS) has reportedly agreed to a £1 million investment in order to further expand its Multicultural Innovation Lab across Europe, Middle East and other areas. Initially introduced in the US back in 2017, the Lab aims to serve as an accelerator program… Read More

October 5, 2021 @ 7:19 pm By Omar Faridi  |  

Qatar Fintech Hub (QFTH), established by the Qatar Development Bank (QDB) to support the growth of the Fintech industry in the Middle Eastern country, published its first whitepaper on the current state of the fast-evolving Fintech ecosystem in the MENA region. Titled “From Qatar to… Read More

October 1, 2021 @ 10:33 am By Omar Faridi  |  

Global Processing Services (GPS), the Paytech Pioneer behind major Fintech challengers, reveals that it has established its MENA region office and hired payments professional, Arnav Rath, as Head of Region. Based in Dubai, the team will focus on leveraging its international reach and payments expertise… Read More

September 29, 2021 @ 1:33 am By Omar Faridi  |  

Citi (NYSE:C) has introduced a dedicated technology hub in Bahrain in order to develop its digital-first platforms. Citi’s management confirmed on September 27, 2021 (Monday) that they are establishing an international tech hub at their Bahrain offices. According to a report from Reuters, the tech… Read More

September 26, 2021 @ 6:38 pm By Omar Faridi  |  

Velmie, a Fintech and banking software service provider, has launched an FX and cross-border transfers module that is connected to providers like Currencycloud, Rapyd, and Nium. Velmie’s white-label platform is currently capable of supporting international payments and funds transfers with customized integration. Global payments and… Read More

September 23, 2021 @ 10:02 pm By Omar Faridi  |  

The newly formed financing firm in Saudi Arabia, Positive Facilities Co. Ltd. (Ejabiah), has reportedly entered an agreement with Path Solutions for the introduction of its interest-free Core banking platform. Ejabiah will be providing a unique 0% interest financing product, which is somewhat similar to… Read More