Tagged: middle east

June 26, 2020 @ 9:18 pm By Omar Faridi  |  

Randy Rivera, Executive Director of FinTEx, a member-led community focused on promoting innovation and collaboration within Fintech in Qatar and the MENA region, has said that his organization continues to work with international financial services industry participants. During a June 23, 2020 virtual panel discussion… Read More

June 26, 2020 @ 12:15 am By Omar Faridi  |  

Fintech firms based in India and the United Arab Emirates (UAE) plan to continue working cooperatively in order to address key socio-economic changes and challenges resulting from the global COVID-19 outbreak. India and UAE’s financial hub Dubai aim to stay on top of major changes… Read More

June 25, 2020 @ 11:33 pm By Omar Faridi  |  

The Qatar Financial Center (QFC) Authority, a business and financial center based in Doha, recently confirmed that it remains focused on becoming a major hub for Fintech in the MENA and South Asia region. The Middle East region’s Fintech sector reportedly saw global investment increase… Read More

June 24, 2020 @ 10:35 pm By Omar Faridi  |  

Fahad Al Dosari, Commercial Attaché for the Embassy of Qatar in the US, has argued that the Middle Eastern financial hub is one of the world’s most stable economies. Dosari, whose statements came during a virtual panel discussion that covered Qatar’s evolving Fintech sector and… Read More

June 23, 2020 @ 11:42 pm By Omar Faridi  |  

Over 80% of banking customers in the Middle East say they’re ready or willing to use Fintech apps, however, many traditional lenders have not started integrating financial technology products, according to a recent study by Big Four auditing firm Deloitte. The study revealed that 18%… Read More

June 22, 2020 @ 10:38 pm By Omar Faridi  |  

Narayanan Ganapathy, a financial analyst, angel investor, and the CEO at Angivest Ventures, recently noted that significantly more people are using smartphone apps and other types of software to make digital payments, because of the COVID-19 outbreak and resulting challenges. Ganapathy, whose comments came during… Read More

June 21, 2020 @ 4:23 pm By Omar Faridi  |  

Bahrain and the United Arab Emirates (UAE) were recently ranked among the world’s top 100 destinations for startups across the globe. A new study published by StartupBlink, called the Startup Ecosystem Rankings Report, determines the score for each country by taking into consideration many different… Read More

June 17, 2020 @ 7:56 am By Omar Faridi  |  

The Islamic Research and Training Institute (IRTI), a member of the Islamic Development Bank Group (IsDB), has teamed up with Samsung-backed blockchain tech company, Blocko, in order to implement a distributed ledger technology (DLT)-powered “smart” credit management platform. As mentioned in a release shared with… Read More

June 15, 2020 @ 11:00 pm By Omar Faridi  |  

The Qatar Fintech Hub (QFTH), co-founded by Qatar Development Bank (QDB), is planning to encourage and support multinational Fintech firms to establish operations in the Middle Eastern country. The QFTH noted during a recent meeting that it’s working with several global Fintech hubs. The organization’s… Read More

June 10, 2020 @ 9:48 pm By Omar Faridi  |  

  The Dubai International Financial Centre (DIFC), an organization that connects the MENA and Southeast Asia region’s markets with the economies of Europe, Asia, and the Americas, has made strategic investments in four Fintech companies. According to a press release, the DIFC has invested in… Read More

May 21, 2020 @ 11:25 pm By Omar Faridi  |  

  Bahrain’s residents have been using mobile and digital payments platforms a lot more now than they were before the COVID-19 outbreak. Safe distancing measures have been introduced throughout the Kingdom, in order to prevent the further spread of the Coronavirus. There are currently 7,888… Read More

May 20, 2020 @ 4:57 pm By Omar Faridi  |  

Stockholm-based Dreams is a Fintech firm that focuses on providing a consumer-based app to help people live sustainably by developing good savings habits. The company’s app and services aim to help users make better use of their income, make smart investments, pay off debts, and… Read More

May 18, 2020 @ 11:33 pm By Omar Faridi  |  

The Fintech sector will get stronger due to the COVID-19 outbreak, as more consumers begin using digital payments platforms and also as more people start working remotely, according to a new report from the Dubai Future Foundation (DFF). The report noted: “This sector will successfully… Read More

May 18, 2020 @ 11:12 pm By Omar Faridi  |  

Payments giant Mastercard (NYSE:MA) has committed to a Memorandum of Understanding (MoU) with Hub71, a technology ecosystem based in Abu Dhabi Global Market Square that supports global Fintech initiatives and leading tech firms. As mentioned in the announcement, Hub71 is a flagship project of the… Read More

May 18, 2020 @ 9:19 am By Samantha Hurst  |  

Digital asset custody platform Koine announced on Monday it has received in-principle approval (IPA) to provide custody in relation to Virtual Assets in the Abu Dhabi Global Market (ADGM). According to Koine, the IPA was granted by the Financial Services Regulatory Authority (FSRA) of ADGM…. Read More

May 11, 2020 @ 2:16 pm By Omar Faridi  |  

United Arab Emirates (UAE)-based Fintech firm Spotii has introduced its shop now (or buy now) pay later platform. The credit is provided at “no interest, no cost.” Spotii has teamed up with various online merchants, allowing them to provide four “cost-free” installments to customers when… Read More

May 10, 2020 @ 6:44 pm By Omar Faridi  |  

Qatar’s central bank (QCB) has proposed a second strategic plan which involves establishing clear policies that aim to support venture capital funding and the development of SMEs, according to Sheikh Abdulla bin Saoud al-Thani, the governor at QCB. The Qatar Development Bank (QDB), a local… Read More

May 10, 2020 @ 6:28 pm By Omar Faridi  |  

David Parker, co-chief investment officer at the Bahrain Economic Development Board (an organization responsible for attracting inward investment into the Kingdom for key areas such as technology development and supporting the local financial and banking industry), recently confirmed that the country aims to position itself… Read More

May 7, 2020 @ 11:18 pm By Omar Faridi  |  

The United Arab Emirates’ (UAE) top regulatory authorities have asked local businesses to leverage the latest Fintech solutions to counter anti-money laundering (AML) and other types of illicit financial activities. The advisory was issued by the nation’s reserve bank, Ministry of Economy, Ministry of Justice,… Read More

May 1, 2020 @ 9:56 pm By Omar Faridi  |  

The Gulf Cooperation Council (GCC), an intergovernmental political and economic union consisting of the Arab states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, is expected to experience a significant increase in the use of Fintech platforms and services. The anticipated… Read More