Tagged: middle east

December 31, 2020 @ 6:58 pm By Omar Faridi  |  

The digital commerce sector in Saudi Arabia has undergone a major (digital) transformation and there have been noticeable changes in consumer behavior, particularly when it comes to using online platforms in a post COVID world. Ibrahim Mohammad Al-Saad, Founder of Ajda, has stated that the… Read More

December 28, 2020 @ 8:51 am By Samantha Hurst  |  

  UK-based next-generation banking platform Cashaa announced on Monday Unicas has opened its first physical branch in Jaipur, India. Unicas is notably a join venture between Cashaa and the United Multistate Coop Society and allows users to transact in cryptocurrency and fiat from one account…. Read More

December 27, 2020 @ 4:39 pm By Omar Faridi  |  

Dalal Buhejji, the Director of Business Development, Financial Services at the Bahrain Economic Development Board, has noted that there are currently around 400 financial institutions based in Bahrain. Buhejji pointed out that these companies are offered a “stable, predictable and proven” regulatory and business environment… Read More

December 26, 2020 @ 4:09 pm By Omar Faridi  |  

Although Dubai’s economy is projected to contract by 6.2% this year, with the travel and hospitality industries hit really hard due to the COVID-19 pandemic, the country saw a significant increase in bank financing for its communications, storage, and transport sectors. There was also solid… Read More

December 17, 2020 @ 12:27 am By Omar Faridi  |  

Fintech is expected to play an important role in Saudi Arabia’s efforts to further diversify its economy, according to commentary from the nation’s Budget 2021 report. Padmini Gupta from Fintech Rise notes in an update published by Arab News that sustained support this year from… Read More

December 16, 2020 @ 9:16 am By Samantha Hurst  |  

  Abu Dhabi Securities Exchange (ADX) and the Tel Aviv Stock Exchange (TASE: TASE) announced on Wednesday they have signed a memorandum of understanding (MOU). The duo claims this is the first time an Arab exchange has entered into a commercial relationship with the state… Read More

December 14, 2020 @ 10:49 pm By Omar Faridi  |  

The US-Qatar Business Council (USQBC), the Silicon Valley Forum and the Embassy of the State of Qatar in Washington DC recently held a discussion during a virtual event on December 8, 2020, titled “Qatar in Focus: Smarter Countries & Thriving Communities in the Digital Age.”… Read More

December 2, 2020 @ 10:11 pm By Omar Faridi  |  

The Middle East focused Fintech Tour 20 officially began on November 29, 2020. The event will provide key insights on the evolving financial technology sector in Saudi Arabia and aims to bring together local and international industry professionals. Ahmed Alkholifey, Governor of the Saudi Central… Read More

November 30, 2020 @ 10:36 pm By Omar Faridi  |  

The Dubai International Financial Centre (DIFC) Fintech Hive, the largest Fintech hub in the MENA region, entered into an agreement with Israel-based Fintech-Aviv on Saturday, November 28, 2020. Founded in 2014, Fintech Aviv aims to cater to the needs or requirements of the Israeli Fintech… Read More

November 30, 2020 @ 6:49 am By Omar Faridi  |  

UK-based Paymentology, a payment tech solutions provider, is reportedly working with banks and financial institutions based in the UAE and the Middle East in order to offer digital payments services. Paymentology claims that its payment services will change and improve the way customers conduct transactions… Read More

November 27, 2020 @ 7:04 pm By Omar Faridi  |  

The Kingdom of Bahrain and Saudi Arabia’s capital city Riyadh were recently chosen as the top Fintech ecosystems to watch closely, according to a report from research organization Startup Genome. The researchers at Startup Genome analyzed the economies and deal activities of several different countries…. Read More

November 22, 2020 @ 3:03 pm By Omar Faridi  |  

Qualified or eligible Fintech firms interested in establishing operations at the Qatar Financial Centre (QFC) could save around $10,000 as the QFC gets ready to launch its “Tech Talk” series. Henk Jan Hoogendoorn, MD at the Financial Sector Office at the QFC, noted earlier this… Read More

November 22, 2020 @ 1:38 pm By Omar Faridi  |  

Western Union (NYSE: WU) has reportedly acquired a 15% stake in Saudi Arabia’s Telecom’s digital payment division. Western Union, which is notably the largest money transfer company in the world, has confirmed that it has purchased a $200 million (or 15%) stake in the online… Read More

November 21, 2020 @ 8:36 pm By Omar Faridi  |  

Israel’s Bank Hapoalim and Abu Dhabi Global Market will be collaborating on various Fintech projects. Both organizations have agreed to support the digital transformation of financial services in the UAE and Israel. Abu Dhabi Global Market (ADGM), a major international financial centre located in the… Read More

November 21, 2020 @ 4:33 pm By Omar Faridi  |  

The United Arab Emirates (UAE) is reportedly leading the MENA region’s Fintech sector with a projected valuation of around $2.5 billion by 2022 (which is still not significant compared to international standards). Regional and multinational financial services providers have been launching digital platforms in order… Read More

November 17, 2020 @ 11:00 pm By Omar Faridi  |  

Singapore based Fintech firm 360F and Zurich Middle East have introduced a “pioneering” and “deeply innovative” solution, called ZurichPro, which aims to digitize the financial planning process, and will help Zurich with meeting its business sustainability goals and objectives. Walter Jopp, CEO of Zurich Middle… Read More

November 17, 2020 @ 9:28 pm By Omar Faridi  |  

Global payments platform Adyen (AMS: ADYEN), which claims it’s the platform of choice for many of the world’s largest businesses, has announced that it would be expanding its operations into the Middle East region. Adyen’s management noted that they aim to support the momentum of… Read More

November 14, 2020 @ 2:06 pm By Omar Faridi  |  

A report released earlier this week by Checkout.com reveals that digital commerce and online payments are on track for major growth next year. Internal Checkout.com data indicates that digital payment transfers have almost doubled in the MENA region since the beginning of the COVID-19 outbreak…. Read More

November 10, 2020 @ 10:11 pm By Omar Faridi  |  

UAE-based BankOnUS, a major financial services aggregator, has introduced an AI-powered app that aims to offer reliable and cost-effective financial solutions. The app allows users to access several different financial products and services from one wallet or interface. As mentioned on BankOnUs’ official website, the… Read More

November 9, 2020 @ 5:42 pm By Omar Faridi  |  

Qatar’s private sector is now ready to work cooperatively with US-based companies and businesses, according to Qatar Development Bank CEO Abdulaziz Bin Nasser Al Khalifa. As previously reported, the Qatar Development Bank (QDB) offers financial services, banking, and loans to support the development of the… Read More