Tagged: middle east

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

November 4, 2020 @ 11:35 pm By Omar Faridi  |  

The central bank in the UAE has issued new regulations on Stored Value Facilities (SVF). The updated regulatory guidelines apply to local Fintech companies and various other non-bank payment service providers. The new guidelines aim to make it easier to access the UAE market while… Read More

November 4, 2020 @ 8:56 am By Omar Faridi  |  

Nasdaq Dubai has welcomed the listing of $600 million Sukuk by the Islamic Corporation for the ongoing development of the nation’s private sector. According to a release shared with Crowdfund Insider, the Sukuk offering was allocated to investors based in the Middle East, Asia and… Read More

October 27, 2020 @ 11:18 pm By Omar Faridi  |  

Abdulaziz Bin Nasser Al Khalifa, the CEO at Qatar Development Bank (QDB), which offers financial services, banking, and loans to support the development of the nation’s economy, has said that changing mindsets regarding entrepreneurship is “critical to growth.” QDB plans to help both government employees… Read More

October 26, 2020 @ 9:57 pm By Omar Faridi  |  

The Central Bank of Bahrain has introduced FinHub 973, which aims to serve as a virtual Fintech platform for the MENA region. The platform has been launched with the help of the Economic Development Board, Bank ABC, ila Bank, Benefit, National Bank of Bahrain, and… Read More

October 20, 2020 @ 10:01 pm By Omar Faridi  |  

Dr. Ahmed Abdulkarim Alkholifey, the Governor of Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank, says that central bank digital currencies or CBDCs seem to be promising and are worth further exploration. Dr. Ahmed’s comments came during a recent webinar held by the International… Read More

October 19, 2020 @ 10:02 pm By Omar Faridi  |  

  Dubai Economy recently brought together the main stakeholders in the country’s cashless economy ecosystem at the Future Economy Lab event (workshop). The event was conducted as part of the UAE’s ongoing efforts to address COVID-19 related challenges. The Middle Eastern country is focused on… Read More

October 15, 2020 @ 6:35 pm By Omar Faridi  |  

Qatar is now well-positioned to provide a test-bed for creating business-to-business (B2B) Fintech solutions. The Middle Eastern nation has introduced its National Vision 2030 Strategy, which includes several Fintech-focused projects that should help with expanding and diversifying Qatar’s economy. Qatar’s financial technology sector has been… Read More

October 13, 2020 @ 9:29 am By Omar Faridi  |  

Abu Dhabi Global Market (ADGM), which aims to serve as a global financial center and hub for the MENA region, says it’s always working to ensure the economic well-being of its community members. ADGM has released its State of Sustainable Finance Report – which outlines… Read More

October 12, 2020 @ 8:39 pm By Omar Faridi  |  

UAE based Fintech Galaxy, a Fintech marketplace and innovation platform, has teamed up with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in order to launch a virtual hackathon – which focuses on supporting financial inclusion and encourages regulatory collaboration in the MENA region. According to… Read More

October 11, 2020 @ 10:26 am By Omar Faridi  |  

The Abraham Accords were recently signed between Israel and the United Arab Emirates (UAE) and the Kingdom of Bahrain.  The agreement is officially called the Abraham Accords Peace Agreement: Treaty of Peace. It establishes diplomatic relations and “full normalization” between Israel and several Middle Eastern… Read More

October 8, 2020 @ 11:08 pm By Omar Faridi  |  

Qatar’s economy appears to be performing a lot better than other MENA region countries because it has launched many projects that have helped establish different types of businesses that generate significant revenue. Qatar has also managed to overcome the political tensions and has found new… Read More

October 8, 2020 @ 3:08 pm By Omar Faridi  |  

Dubai-based Fintech firm Rise has launched a new platform that allows expatriate workers to make low-cost or affordable remittance payments. The platform’s users are able to send payments in real-time to friends and family members living abroad. At present, the remittance service is in its… Read More

October 7, 2020 @ 10:00 pm By Omar Faridi  |  

Abu Dhabi’s ADQ is reportedly planning to launch a digital banking platform. ADQ, which operates as a state-managed holding firm, confirmed that it will establish a virtual bank in the United Arab Emirates (UAE). As reported by Reuters, the ADQ said it would be using… Read More

October 5, 2020 @ 11:31 pm By Omar Faridi  |  

AsiaMoney Magazine has selected Qatar’s Commercial Bank as the nation’s “Best Digital Bank” for 2020. Commercial Bank’s management noted: “Spearheading the digital innovation scene in the country, and more particularly in the financial and banking sector, Commercial Bank never ceases to launch state-of-the-art banking services… Read More