Tagged: middle east

October 22, 2023 @ 4:46 pm By Omar Faridi  |  

Northern Trust (Nasdaq: NTRS) is expanding the global presence of its Front Office Solutions (FOS) business with the addition of new clients in the EMEA (Europe, Middle East and Africa) region. Globally, FOS has nearly $500B in assets under administration as of July 2023. The… Read More

October 15, 2023 @ 11:21 am By Omar Faridi  |  

The Saudi Central Bank (SAMA) issued its semi-annual performance report of the finance companies sector and real estate refinance for H1 2023. According to the report, most of the indicators in the finance companies sector “grew at varying rates in H1 2023.” The paid-up share… Read More

October 12, 2023 @ 10:50 am By Omar Faridi  |  

The Central Bank of Jordan (CBJ) has taken a significant step towards modernizing the financial services landscape in the Kingdom by unveiling comprehensive guidelines for Open Finance services. These guidelines apply to all banks operating “within the jurisdiction of CBJ, as well as online payment… Read More

October 11, 2023 @ 8:21 am By Omar Faridi  |  

UnaFinancial, a Singapore-headquartered Fintech group (previously known as Robocash), has teamed up with Velexa, a UK-based wealthtech firm, in order to introduce a digital investing platform in the UAE. UnaFinancial and Velexa revealed that the collaboration aims to leverage Velexa’s expertise in investment tech and… Read More

October 10, 2023 @ 9:36 am By Omar Faridi  |  

Tarabut, MENA’s leading open banking platform, has announced a new partnership with FLOOSS, a Bahrain-based digital lending platform. FLOOSS is reportedly the “first” and fastest digital loan app in Bahrain “offering consumer loans of up to BHD 750 with a repayment period of up to… Read More

September 27, 2023 @ 11:03 pm By Omar Faridi  |  

The MENA region reportedly has the sixth largest crypto economy of any region studied this year, “with an estimated $389.8 billion in on-chain value received between July 2022 and June 2023,” according to an update from Chainalysis. Chainalysis also mentioned that this “represents nearly 7.2%… Read More

September 21, 2023 @ 3:18 pm By Omar Faridi  |  

Ebury, a global financial solutions provider, is pleased to announce its partnership with 360tf, one of the pioneers of trade finance facilities in the UAE region. This collaboration will aim to improve how 360tf’s clients “access international trade solutions, providing seamless and direct access to… Read More

September 17, 2023 @ 2:22 pm By Omar Faridi  |  

On the occasion of its 3rd anniversary in the Egyptian market, Foodics in Egypt, the restaurant management solutions provider that’s based in the Middle East, conducted a comprehensive review of its future business strategy, business volume, and the services extended to its partners in the… Read More

September 15, 2023 @ 11:15 am By Omar Faridi  |  

Philcoin, the blockchain platform dedicated to philanthropy, announces its collaboration with the Repton Family of Schools in the UAE. This partnership, part of Excella‘s esteemed network of high-performing K-12 institutions, promises to “turn student achievements into tools for fostering philanthropy through cryptocurrency tokens.” As the… Read More

September 14, 2023 @ 8:59 pm By Omar Faridi  |  

Mastercard (NYSE: MA) and Bahrain Institute of Banking & Finance collaborate “to spur skill development in the regional financial sector” Described as a “first-of-its-kind” collaboration, Mastercard and the Bahrain Institute of Banking & Finance will aim to “initiate a renewed understanding of the latest industry… Read More

September 9, 2023 @ 3:28 pm By Omar Faridi  |  

As momentum for crypto builds around the world, Coinbase (NASDAQ:COIN) is executing on Phase II of their “Go Broad, Go Deep” strategy for international expansion. Coinbase says that it sees the following: 1) enactment of clear rules; 2) innovation of more efficient, more accessible products… Read More

September 9, 2023 @ 12:46 pm By Omar Faridi  |  

Central Asian fintech Alif makes its mark in the UAE with Alif Pay, providing financial services and global remittance for UAE residents. Digital transformation professional Shafique Ibrahim takes on the role as Alif Pay’s CEO, spearheading the launch and “reinforcing the platform’s innovative approach to financial… Read More

September 7, 2023 @ 10:55 pm By Omar Faridi  |  

Mastercard (NYSE: MA) and Fintech Saudi have announced the signing of a memorandum of understanding during Seamless Saudi Arabia 2023 “to advance the growth and development of the Saudi Arabia fintech industry.” The announcement marks another step “towards powering an inclusive digital economy and advancing… Read More

September 6, 2023 @ 9:17 pm By Omar Faridi  |  

Emirates NBD has announced it invested in Komgo, a software development and technology services company transforming the trade finance industry. The equity investment was “made by Emirates NBD‘s Innovation Fund, the bank’s corporate venture fund.” Emirates NBD’s corporate venture capital arm will “enable the Group… Read More

September 6, 2023 @ 12:14 pm By Omar Faridi  |  

Network International, the enabler of digital commerce across the MEA region, has announced a partnership with J.P. Morgan Payments in order “to strengthen the bank’s acquiring offering.” J.P. Morgan Payments currently “operates in over 160 countries and over 120 currencies and is one of the… Read More

September 3, 2023 @ 4:48 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) has reportedly licensed “Alhulul AlMubassatah Financial Company (SiFi)” to provide E-wallet solutions. With SiFi, there are now 25 licensed companies “offering payment services in Saudi Arabia, in addition to 7 companies that have obtained initial approval to operate within SAMA’s… Read More

August 30, 2023 @ 8:08 pm By Omar Faridi  |  

Tabby, the MENA’s leading shopping and financial services app, has announced the arrival of Tabby Shop, its new all-encompassing shopping tool, “marking the most significant change on the Tabby app since its launch.” The new app is a one-stop-shop “showcasing over 500,000 products from thousands… Read More

August 28, 2023 @ 9:18 pm By Omar Faridi  |  

Qatar Investment Authority (QIA) has announced today an investment of ₹ 8,278 crore (approx. $1bln) into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (Reliance Industries). QIA’s investment “will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted… Read More

August 25, 2023 @ 10:13 pm By Omar Faridi  |  

Mastercard (NYSE:RSKD) has established a Global Centre for Advanced AI and Cyber Technology in Dubai. The UAE’s Artificial intelligence, Digital Economy and Remote Work Applications Office and Mastercard signed a Memorandum of Understanding “to increase Artificial Intelligence (AI) capabilities and readiness in the region.” An… Read More

August 24, 2023 @ 10:08 pm By Omar Faridi  |  

Mastercard (NYSE:RSKD), a global technology company, is partnering with UAE-founded spend management fintech company Qashio in order “to launch corporate credit cards, while enabling them with virtual issuance capabilities across the region.” The strategic partnership aims “to make the future of expense management cashless, transparent… Read More