Tagged: uae

ADGM Releases Consultation Paper on Revamp of Real Property Regulations

Abu Dhabi Global Market (ADGM), the International Financial Centre of the UAE’s capital, has released a Consultation Paper in order to seek views on its proposals on the comprehensive revamp of its real property regulatory framework. This regulatory revamp addresses market needs and “ensures we… Read More

California to Undermine Artificial Intelligence [AI] Innovation with New Legislation (SB 1047)

This past week, the California state legislature approved an Artificial Intelligence (AI) bill, SB 1047 that is being described as undermining innovation and hampering the development of the new technology. Joe Lonsdale, founder of Palantir (NYSE:PLTR) – a firm engaged in AI development, slammed the… Read More

United Fintech Strengthens Presence with Opening of New Location in Dubai International Financial Centre (DIFC)

United Fintech is increasing its global presence with the opening of a new location in the Dubai International Financial Centre (DIFC). This strategic expansion into the UAE, “spearheaded by Athena, one of United Fintech’s partner companies, is a response to robust market demand and underscores… Read More

Tether Signs MoU with RAK DAO to Introduce Educational Initiatives Focused on Bitcoin (BTC), Stablecoins

Tether Operations Limited, the largest company in the digital asset industry, announces the signing of a Memorandum of Understanding (MoU) with RAK Digital Assets Oasis (RAK DAO), which is the first step towards the launch of several strategic initiatives to help foster the adoption of… Read More

UAE Card Payments Market On Track to Surpass $200B in 2028 – Research Report

The UAE card payments market is forecast to grow at a compound annual growth rate (CAGR) of 10.6% between 2024 and 2028 to reach AED764.1 billion ($208.2 billion) in 2028, according to GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveals “that card… Read More

Fintech Legal Compass Covers Regulatory Environment in MENA Region

A legal consultancy has published a report on the regulatory environment for Fintechs in the MENA region. While digital finance is the future of all financial services, the emergence and regulation of various services have differed worldwide.  KARM Legal Consultants has crafted a “Fintech Legal… Read More

UAE’s Web3 VC Firm Klumi Ventures Now Regulated by Financial Services Regulatory Authority of ADGM

Klumi Ventures announces its achievement as the United Arab Emirates’ Web3 venture capital firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This event heralds a new era of innovation and investment opportunities in the region’s digital asset ecosystem,… Read More

Dubai Financial Market and SIX to Enable Global Financial Growth and Broaden Market Accessibility

The Dubai Financial Market (DFM) and SIX, the Swiss Financial Market Infrastructure Group, announced today the signing of a collaboration agreement during the second edition of the Capital Market Summit. The partnership underscores a shared commitment to exploring and implementing collaborative initiatives “aimed at fostering… Read More

Checkout.com Analysis Reveals Key Shifts in Transaction Volumes After UAE Experienced Severe Weather Conditions

In the aftermath of recent severe weather conditions the UAE witnessed, global payments solution provider Checkout.com has conducted a comprehensive analysis revealing significant shifts in transaction volumes across various sectors. The data sheds light on the profound impact of adverse weather “on consumer online shopping… Read More

Web3, DeFi and Blockchain Focused Varys Capital Ventures Set to Launch in ADGM

Varys Capital has partnered with FundRock Investment Management Services (ME) Ltd, a fund management company, licensed by the FSRA, to manage a feeder fund, Varys Capital Ventures (CEIC) Limited in the Abu Dhabi Global Market (ADGM). The feeder fund will invest its assets into a… Read More

Capital.com Opens Office in Dubai, Seeks MENA/Asia Expansion

Following the full regulatory approval from the UAE Securities and Commodities Authority to deal in securities in the UAE, Capital.com has opened an office in Dubai and plans to expand its services across the MENA and Asia regions. Launched in 2016, Capital.com aims to enable… Read More

Digital Assets: Fasset App Now Offered in UAE After Licensing by VARA in Dubai

Digital asset exchange Fasset’s app is now officially available to users in the UAE. The app offers access to broker-dealer services for “both early investors and experienced real-world asset investors seeking to diversify their investment portfolio with digital assets.” Fasset’s platform allows secure and seamless… Read More

Indian Fintech PhonePe Clients Can Make Payments via UPI at Mashreq’s NEOPAY Terminals in the UAE

PhonePe App users traveling to the UAE can now make payments using UPI at Mashreq’s NEOPAY terminals, available across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions. They simply need to “scan the QR code for seamless and… Read More

additiv, an Enabler of Embedded Finance, Expands Operations in Dubai

Responding to growing demand for Finance-as-a-Service propositions in the Middle East, additiv, a global enabler of Fintech and embedded finance, has announced that it is expanding its presence in Dubai, UAE by opening a new, fully operational office location in the heart of Dubai International… Read More

Kema, a UAE Fintech, Reports Closing Pre-Seed Round led by Speedinvest

Kema, a UAE fintech platform founded by ex-Mumzworld.com co-founder Michael Ghandour, says it has raised a $2 million pre-seed round led by Speedinvest with participation from the Dubai Foundation District Fund (DFDF). Kema claims that it transforms “how businesses sell to one another (B2B) by… Read More

UAE: Sharjah Islamic Bank Partners with Noqodi for Digital Payment Services

UAE’s Sharjah Islamic Bank (SIB) has announced a strategic partnership with Noqodi, a Fintech company and payment gateway owned by Emaratech Group, to enhance digital payment services. In a statement, the bank said the collaboration is set to substantially enhance the digital and electronic payment… Read More

MENA Region’s Mashreq Signs MoU with Fintech Fils to Introduce Corporate Carbon Offsetting Offering

Mashreq, which claims to be one of the leading financial institutions in the MENA region, has signed a Memorandum of Understanding (MoU) with the UAE-based fintech firm, Fils, in order to “develop a corporate carbon offsetting offering that helps corporate and institutional clients to integrate… Read More

UAE’s Maalexi, the Dynamic Risk Management Platform for SME Agri-Businesses, Acquires Funding

Maalexi, the UAE-based dynamic risk management platform for SME agri-businesses, announces its completion of a $3 million pre-Series A fund raise. The investment round was reportedly “led exclusively by Global Ventures – MENA’s venture capital firm – which joins existing venture capital investors Rockstart (Amsterdam)… Read More

Fintech Firm Alipay+ Announces Initiative to Streamline Shopping Experience for International Visitors to Dubai

Dubai Duty Free, which claims to be one of the largest travel retail operators, announced its partnership with Alipay+ in order “to power a seamless travel and checkout experience for international visitors.” Consumers from South Korea, Singapore, the Philippines, Thailand, Mongolia, Italy as well as… Read More

UAE’s Financial Services Regulatory Authority Makes Revisions to Anti-Money Laundering and Sanctions Rules and Guidance

The Financial Services Regulatory Authority (FSRA) has announced revisions to its Anti-Money Laundering and Sanctions Rules and Guidance (the AML Rulebook). The FSRA has made revisions that “clarify the requirements that previously appeared in the AML Rulebook, reflecting the federal regulatory framework the UAE has… Read More

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