Arab Financial Services (AFS), a provider of digital payment solutions and a fintech enabler across the MENA region, has announced its expansion into the United Arab Emirates. This follows the acquisition of a Retail Payment Services License – Category II from the Central Bank of… Read More
QNB Group, the largest financial institution in the Middle East and Africa, and Ooredoo Fintech have announced a groundbreaking extension to their partnership aimed at revolutionizing fintech services in Oman. This collaboration marks a significant milestone in the region’s digital transformation journey as both entities… Read More
In a significant move towards modernizing business-to-business (B2B) payment processes, PayMate India SPC, a B2B digital payments company, has signed a Memoranda of Understanding (MoU) with the National Bank of Oman (NBO) in order “to digitize, automate, and streamline B2B payments using Visa Business Credit… Read More
Newgen Software, a global provider of low code digital transformation platform, announced that the Development Bank (DB) selected Newgen in order “to streamline its Banking Processes and Deliver Transformed Experiences.” The financing arm for the government to “support SMEs based in Oman is dedicated to… Read More
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
IFIN, which claims to be the first of its kind Islamic Fintech, announces its partnership with Bank Nizwa, Oman’s “first” full-fledged Islamic bank in the Sultanate, offering a plethora of Shariah-compliant products and services, “to introduce instant Islamic ‘Goods Financing’ with the aim of enriching… Read More
Celesta Capital, a deep technology venture capital firm, announced that it has created a formal partnership with The Sultanate of Oman’s Ministry of Transport, Communications and IT (MTCIT) and the Public Authority for Special Economic and Free Zones (OPAZ). Celesta Capital has “had a longstanding… Read More
Innoveo, a global tech firm and “pioneer” in no-code platform-as-a-service, announced that Oman Insurance company, one of the largest publicly listed insurers in the United Arab Emirates, has successfully gone live with its ZeroCode ‘KUDOS’ platform “leveraging Innoveo Skye, driving near-immediate efficiencies and enhancing the… Read More
Mumbai-based Fintech company QPS Global recently revealed that it will be expanding its business operations in the Middle East. The company confirmed that it will be allocating $10 million in capital into the region within the next 12 months. The B2B card issuance and processing… Read More
IFIN (Islamic Finance Initiation Network), the Islamic Fintech firm, has introduced its operations in the Sultanate of Oman by teaming up with Alizz Islamic Bank and Danube Home. Bahrain-based IFIN, a company that digitally connects Islamic finance service providers to retail outlets, aims to offer… Read More
Fitch Ratings reports that the Islamic banking ecosystem in Oman is expected to continue growing during 2021-2022 after rather strong momentum last year. This, despite the COVID-19 outbreak and historically low oil prices, Fitch Ratings noted. Islamic financing in the MENA region country expanded by… Read More
Dr. Saeeda Jaffar, Board Member, Managing Director and Head of Middle East at Alvarez & Marsal, notes that research performed by Checkout.com at the end of last year suggested that digital commerce and the digital payment sectors in the Middle East region were “set for… Read More
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
National Bank of Oman (NBO), one of the largest financial institutions in the country and its first local bank, aims to raise awareness regarding the importance of practicing safe banking during the coronavirus (COVID-19) outbreak. The NBO has taken several measures to ensure its clients… Read More
Oman’s Ministry of Technology and Communications (MTC) has committed to a memorandum of cooperation (MoC) with BankDhofar at the Sas Center for the 4th Industrial Revolution (4IR), in order to manage a technology innovation lab at the center. The MoC was reportedly signed by Dr…. Read More
Vinnie Lauria, an entrepreneur and venture capitalist who established Golden Gate Ventures, an early-stage VC company managing more than $250 million in assets, notes that his Singapore-based company has been watching emerging tech sectors across the Southeast Asia region. Lauria reveals that he’s seeing significant… Read More
The National Bank of Oman (NBO), the first local bank and one of the largest financial institutions in the Middle Eastern country of Oman, has been awarded Best Mobile Banking Application – Oman 2019 by the International Finance Magazine. The bank has also received various… Read More
Bank Muscat, the leading financial services provider in the Sultanate, recently revealed that the Central Bank of Oman has approved the institution’s request to establish a $100 million (appr. OMR38.5 million) nationwide, strategic Fintech investment program. The investment program is reportedly part of Bank Muscat’s… Read More
Oman Oil and Orpic Group and HSBC Bank Oman SAOG have reportedly performed the first blockchain-based trade finance transaction in the Middle Eastern nation using R3’s Corda technology. According to a November 23 report from Oman Observer, Oman Oil and Orpic Group, the country’s largest… Read More
On Tuesday, Oman bank BankDhofar announced it is the first bank in Oman to join Ripple’s global enterprise blockchain network, RippleNet. According to BankDhofar, the blockchain network will help its customers save both time and money when sending payments overseas. The bank joins more than 100… Read More
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