Tagged: uae

FSA Japan & FSRA of ADGM Join Forces to Promote Fintech Innovation

The Financial Services Agency of Japan (FSA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) announced the completion of a framework for cooperation to promote innovation in financial services in Japan and ADGM. This Cooperation Framework recognizes the global nature of… Read More

UAE Fintech NOW Money Receives $700,000 Investment From Accion Venture Lab & Newid Capital

UAE-based fintech startup NOW Money announced on Tuesday it secured an investment of $700,000 from venture capital investors Accion Venture Lab and Newid Capital. NOW Money claims to be the first fintech in the Gulf region to use mobile banking technology to provide accounts, financial inclusion and a range of… Read More

ADGM Aligns with KPMG, Swiss Finance + Technology Association and Responsible Finance & Investment Foundation

  It’s been quiet an exciting week for Abu Dhabi Global Market: global Fintech challenges, new alliances and partnerships. ADGM and KPMG have synced to launch the first ever FinTech Abu Dhabi Innovation Challenge on 22 October 2017 in Abu Dhabi to enable startups to… Read More

Dubai Regulations for Crowdfunding: Issuers May Raise Up To $5 Million

The Dubai Financial Services Authority (DFSA) announced the enactment of a regulatory regime designed to engender a robust crowdfunding ecosystem for the country. The new regulations are part of a strategy to foster an innovation driven economy. Empowering entrepreneurs and startups by providing the access… Read More

Dubai Announces Regulatory Framework for Crowdfunding

The Dubai Financial Services Authority (DFSA) has today launched a regulatory framework for loan and investment-based crowdfunding platforms. The DFSA noted this is the first such framework in the  Gulf Cooperation Council (GCC) member countries. The new crowdfunding regulatory approach is part of the DFSA’s… Read More

Dubai Financial Services Authority Creates Special License for Fintech to Foster Innovation

The Dubai Financial Services Authority (DFSA) is looking to streamline the process of financial innovation by creating a special license for Fintech firms called the “Innovation Testing License” or ITL.  The DFSE said the ITL signals the “next phase” in their regulatory roadmap to increase… Read More

Smart Dubai: Implementing Blockchain Across the City, Emirates NBD on Board

Dubai’s pioneering government-backed initiative to implement blockchain technology across the city is now into its third month, and the pilot schemes continue to roll out. The move aims  to secure the city’s reputation as a leading Middle Eastern business center. This month Dubai’s largest bank, Emirates… Read More

Abu Dhabi Global Market Announces Fintech RegLab Winners, Welcomes Next Round of Applicants

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has announced its first batch of Fintech Regulatory Laboratory (Reglab) participants comprising five local and international Fintech startups with various innovation offerings.The ADGM Reglab is reportedly the first Fintech regulatory sandbox and framework in the… Read More

Fidor Hires Brad Whittfield as Global CFO

Fidor, a digital bank and Fintech solutions provider, has appointed Brad Whittfield as Global Chief Financial Officer. This is a newly created role within the Fidor Group and will be based in Dubai, UAE – Fidor Solutions’ central hub for its global expansion. Whittfield is… Read More

UAE Invoice Bazaar Receives Guidance & Investment from Shirish Apte

Invoice Bazaar, a UAE Fintech supply chain finance platform announced an investment from Shirish Apte, former CEO and Chairman Asia Pacific of Citigroup. Founded last year in Dubai, Invoice Bazaar has now expanded into India and Singapore. “Having seen the business model of many FinTech… Read More

NYUAD & UAE Exchange Enter Partnership

New York University Abu Dhabi and the United Arab Emirates Exchange signed a Memorandum of Understanding in the attempt to promote both the advancement of innovation of financial technologies. The two have agreed to accomplish this through the innovation and entrepreneurship platform, startAD. startAD is based… Read More

DIFC Accepting Applicants for Fintech Hive Accelerator Program

The Dubai International Financial Centre (DIFC) has announced it is now accepting applications for its ‘FinTech Hive at DIFC’ accelerator program. The announcement comes after DIFC received registered interest from more than 200 companies since it opened its doors in January. The 12-week program is… Read More

Beehive is First P2P Lender to Receive DFSA Regulatory Approval

Dubai-based Beehive has become the first peer to peer lending platform to be authorised and regulated by the Dubai Financial Services Authority (DFSA) Beehive reports that the new regulation is a first for the region and may catalyze sector growth of the Fintech industry. Beehive said… Read More

IMF & Dubai to Host FinTech Seminar at World Government Summit

The International Monetary Fund (IMF) is partnering with Dubai’s Ministry of Finance to co-host a fintech seminar during the 5th World Government Summit that will take place in Dubai between February 12-14, 2017.  Blockchain technology will be a key discussion point during this panel —… Read More

Just in from Dubai: UAE Remittance App NOW Money Wins IBM SmartCamp, Next Stop LAUNCH Festival 2017

NOW Money (NOW), the new remittance app for the unbanked population of the UAE, has won IBM’s SmartCamp competition in Dubai. The competition which took place at the Google Tech Incubator Astrolabs invites early-stage start-up businesses to pitch and win a place at the World’s largest… Read More

Innovate Finance to Support the Creation of Bahrain and UAE’s Fintech Hubs

Innovate Finance, an association that’s dedicated to the global fintech industry, announced on Monday it is set to support the creation of two fintech hubs located in the Kingdom of Bahrain and the UAE. While speaking at the FinTech Enterprise Excellerate (E2) conference in the Gulf, Lawrence… Read More

Abu Dhabi Global Market Debuts Fintech RegLab

Abu Dhabi Global Market (ADGM), an international finance center in Abu Dhabi, announced on Wednesday the launch of its new Fintech RegLab. This news comes seven months after ADGM revealed the development the center as the fintech hub in the MENA region. ADGM stated the… Read More

Eureeca Self Crowdfunding Round is a Turning Point for Business

Dubai-based Eureeca has released a statement following their successful self-crowdfunding round where they raised $400,000 in 12 days. Sam Quawasmi, co-CEO and co-founder, called the event an important one for platform growth.  Today Eureeca has over 12,000 active investors from 42 different countries. “This year has… Read More

Eureeca Easily Closes Self-Crowdfunding Round: 100% Funded

Eureeca closed its self-crowdfunding round this weekend early – 100% funded. The offer closed after just 12 days of being available online. The securities offer was over 60% funded on day one Based in Dubai, Euereeca has bigger ambitions having received FCA approval in the… Read More

UK Company Sets Equity Crowdfunding Record for Eureeca

Dubai-based equity crowdfunding platform Eureeca has set a platform record having raised $610,000 for UK based Homes or Houses. The funding round closed at 151% of its goal in under 30 days. Eureeca is a twice-regulated platform, having received licensing from the UK Financial Conduct… Read More