Tagged: middle east

July 31, 2023 @ 4:16 pm By Omar Faridi  |  

Binance, which is being sued by US regulators for a wide range of issues, is pleased to announce that their Dubai subsidiary, Binance FZE, has reportedly become the first exchange “to receive the Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority… Read More

July 25, 2023 @ 9:20 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) issued the Annual Performance Report of the Saudi Finance Companies Sector 2022. The report outlines the sector’s key developments and financial results in 2022. According to the report, most indicators in the finance companies sector “grew at varying rates in… Read More

July 16, 2023 @ 7:32 pm By Omar Faridi  |  

Sustainability is a fundamental aspect of Vision 2030, and Saudi Arabia is committed to achieving its net-zero target by 2060; however, “the adoption of sustainability considerations remains its initial stages in Saudi Arabia.” As the concept of Environmental, Social, and Governance (ESG) gains momentum in… Read More

July 15, 2023 @ 6:33 am By Omar Faridi  |  

Mastercard (NYSE: MA) and Nirvana Travel and Tourism – which claims to be one of the UAE’s leading travel and tourism management companies – have joined forces in a collaboration aimed at providing a payment solution “to customers who book travel services in the UAE,… Read More

July 13, 2023 @ 11:38 pm By Omar Faridi  |  

VARA is issuing a market alert regarding ongoing supervisory controls, and enforcement actions initiated against BitOasis. VARA in Dubai (United Arab Emirates) confirmed that it is issuing this market alert regarding ongoing supervisory controls, and enforcement actions initiated against digital currency trading platform BitOasis. Investors… Read More

July 12, 2023 @ 5:31 am By Omar Faridi  |  

Tarabut Gateway, MENA’s open banking platform, announces the appointment of Tariq Sanad as its new Chief Financial Officer (CFO). Tariq, a Bahraini national, is “one of MENA’s renowned start-up veterans, boasting over 20 years of experience in the finance field.” During this time, he has… Read More

July 11, 2023 @ 10:22 am By Omar Faridi  |  

Emirates NBD, a banking group in the MENA region and Turkey, has announced a transformation focused on harnessing the power of generative AI to change Emirates NBD’s operations and enhance productivity across various business functions supported by Microsoft. This collaboration aims “to unlock new opportunities… Read More

July 11, 2023 @ 8:17 am By Omar Faridi  |  

FOO, a B2B fintech solutions provider headquartered in the UAE, has partnered with the Bahrain-based payment services provider and card processor, Infinios Financial Services B.S.C (C). By combining their technology and expertise, the two companies “will deliver an out-of-the-box Digital First Card Issuance Platform.” The… Read More

July 9, 2023 @ 1:02 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) announces the issuance of the Implementing Regulations for the Law of Payments and Payment Services “to support the objective of enhancing soundness and efficiency of the payment systems infrastructure in Saudi Arabia.” The relevant regulatory and supervisory frameworks enable SAMA… Read More

July 7, 2023 @ 11:37 am By Omar Faridi  |  

TOKO, headquartered in Dubai with offices in Hong Kong, is a digital asset creation platform, created in collaboration with DLA Piper and operating within an unparalleled regulatory framework, signs joint business relationship with PwC Hong Kong in order “to offer Blockchain solutions to PwC’s global… Read More

July 4, 2023 @ 12:30 pm By Omar Faridi  |  

Abu Dhabi Global Market (ADGM) announced the implementation of its sustainable finance regulatory framework with immediate effect, following significant support received through public consultation, “reinforcing its position as a sustainable financial hub and a natural hub for sustainable finance activities.” The framework encompasses rules “on… Read More

June 26, 2023 @ 2:33 pm By Omar Faridi  |  

QNB Group, in collaboration with IBM (NYSE: IBM) and its ecosystem partner, Mannai InfoTech, an ICT Division under Mannai Trading Company WLL have delivered an innovative, pioneering and engaging Digital Banking experience to its customers. IBM Consulting’s Business Transformation expertise, the IBM Garage methodology and… Read More

June 23, 2023 @ 5:27 pm By Omar Faridi  |  

Pine Labs’ Qwikcilver, a provider of end-to-end gift card and stored value solutions, has partnered with Etihad Airways, the national airline of the United Arab Emirates to enable seamless issuance of refund and compensation vouchers through Qwikcilver’s Asset Manager solution. This solution has been “integrated… Read More

June 19, 2023 @ 11:24 pm By Omar Faridi  |  

Mastercard (NYSE: MA) is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. This partnership marks “a significant stride in Mastercard‘s ongoing commitment to advancing digitalization in the payments landscape throughout the… Read More

June 8, 2023 @ 6:11 am By Omar Faridi  |  

The team at Gemini is pleased to announce that Gemini will soon “begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE).” As a “forward-thinking,” global financial hub, the UAE is “continuing its tradition of leadership by… Read More

June 7, 2023 @ 10:54 pm By Omar Faridi  |  

Dapi, a UAE-based fintech company, part of Hub71’s global tech ecosystem, is thrilled to announce a strategic partnership with global technology company Mastercard, aimed at introducing account-to-account (A2A) payments on Mastercard Payment Gateway Services (MPGS). The agreement was “signed at Seamless Middle East, the largest… Read More

June 5, 2023 @ 9:35 pm By Omar Faridi  |  

Tabby, the MENA region’s shopping and financial services app, has successfully closed a new financing round “resulting in upsizing its debt facility to $350 million, over a 2X increase since its last debt raising announcement.” The investment round reportedly “involved the participation of key global… Read More

May 31, 2023 @ 10:56 pm By Omar Faridi  |  

Tarabut Gateway, MENA’s open banking platform, announces a strategic partnership with Qarar, the region’s credit analytics technology provider and technology arm of SIMAH, the first and largest credit bureau in the Kingdom of Saudi Arabia. This strategic partnership is set to enhance the financial landscape… Read More

May 29, 2023 @ 10:48 am By Omar Faridi  |  

Instant Cash, a company within the FINTX portfolio, the fintech arm of Emirates Post Group, has received the Retail Payment Services and Card Scheme Regulation (RPSCS) Category 2 License from the Central Bank of the UAE (CBUAE). This reportedly makes it “the first Money Transfer… Read More

May 28, 2023 @ 8:44 pm By Omar Faridi  |  

Abu Dhabi Islamic Bank (ADIB) has reportedly become the first bank in the UAE to provide small and medium-sized enterprises (SMEs) “with convenient remote account opening services through a mobile app by deploying Emirates Face Recognition (EFR) technology.” This new feature will “allow businesses to… Read More