Tagged: uae

Federal Bank Joins Forces With Mashreq Bank to Offer Instant Money Transfers From UAE to India

  Federal Bank announced on Monday it has joined forces with UAE financial institution Mashreq Bank to facilitate money transfers from the UAE to India. According to Federal Bank, the partnership will support Mashreq’s payment product, QuickRemit. Federal Bank further revealed that the partnership will… Read More

Seamless Cross-Border Payments Now Supported by UAE Central Bank and SWIFT Collaboration

Earlier this week, the Central Bank of the United Arab Emirates (UAE) revealed that it had been working cooperatively with SWIFT, an international provider of secure bank-to-bank messaging services. SWIFT and the UAE reserve bank are reportedly working an initiative that will improve the speed… Read More

Arab Monetary Fund Releases Fintech Index, a Measure of Financial Tech Adoption in Middle East

The Arab Monetary Fund, which aims to establish policies of Arab monetary cooperation and promote the development of Arab financial markets, has launched “Finxar,” which is a regional Fintech index for tracking the development of the financial technology industry in Arab nations. The United Arab… Read More

Moven Announces New Collaboration With UAE Fintech Solutions Consultancy Centre Systems Group

  Moven, a U.S.-based financial wellness platform provider, announced earlier this week it has formed a new partnership with UAE-based fintech solution consultancy, Centre Systems Group (CSG). the partnership will notably help expand Moven’s global footprint. According to Moven, CSG is an influential technology company… Read More

Board of Abu Dhabi Global Market Approves Formation of ADGM Authority, Will be Led by Financial Services Veteran Mark Nicholas Cutis

The Board of Abu Dhabi Global Market (ADGM), the international financial center located in Abu Dhabi, has reportedly approved the formation of the ADGM Authority. ADGM Authority is expected to be led by Mark Nicholas Cutis, who will be serving as the organization’s Chief Executive…. Read More

Fintech Funding: MENA Region’s Saudi Arabia, UAE, Egypt Raised Substantial Amounts in Q1 2021, but UK Remains a Global Leader in Fintech

MENA region startups secured $170 million in capital during March 2021, which is reportedly a 6% increase month-over-month, across 43 different deals, according to local sources. This notably takes the total funds raised during Q1 2021 to $396 million across 125 different deals, which is… Read More

Digital Banking: UAE Central Bank Issues License to Al Mayah Community Bank to Offer Seamless Financial Services

The reserve bank in the United Arab Emirates (UAE) has issued a license to Al Maryah Community Bank in order to offer services in the Middle Eastern nation. Al Maryah is notably the very first all-digital bank to have been given approval to begin providing… Read More

Fintech Unicorn Stripe Enters MENA Region Markets with its Dubai, UAE Launch, Following $600M Round

Fintech firm Stripe has reportedly launched its business operations in the Middle East with its recent entry into the United Arab Emirates (UAE). Stripe is notably one of Silicon Valley’s most valuable Fintechs. The company chose Dubai, a major MENA region financial hub, for its… Read More

Middle East Fintech Firms to Operate Under New Guidelines from Abu Dhabi Global Market

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has provided an updated set of regulatory guidelines that are meant to serve as a framework to support the operations of Fintech companies. Many of these startups offer third-party services to clients of… Read More

UAE Bank Account Service NOW Money Raises $7 Million Through Latest Investment Round Led By Anthemis Exponential Ventures

    NOW Money, a UAE-based digital account service, announced on Monday it raised $7 million through its latest investment round, which was led by Anthemis Exponential Ventures with participation from  Knuru Capital, Wamda, Commercial Bank of Dubai, DIFC FinTech Fund, Accion Venture Lab, Greenhouse Capital, and Hambro Perks Oryx Fund. Founded… Read More

Islamic or Sharia-Compliant Fintech Services are Increasingly being Adopted in MENA Region and Globally

Islamic or Sharia-compliant Fintech services are being increasingly adopted in Saudi Arabia, the United Arab Emirates (UAE) and internationally as well, according to a report from Arabian Business. As reported by the news outlet, the largest transaction volumes have come from Saudi Arabia, the UAE,… Read More

Regtech, Financial Wellness, Debt Investments Startups Among 11 Initiatives to Graduate from StartupBootCamp Fintech Dubai

The third edition of Startupbootcamp Fintech Dubai’s accelerator program has now concluded. During the Demo Day, there were 11 startups that pitched their ideas to potential investors, corporate partners, industry experts, mentors, and the general public. Startupbootcamp Fintech Dubai was introduced in 2018 through a… Read More

Digital Banking: UAE Fintech YAP Launches New App for Local Consumers, Allowing them to Better Manage Finances

United Arab Emirates’ first “independent” virtual banking platform has just launched with more than 25,000 applicants that had pre-registered during the past few months in order to use the bank’s Fintech app. UAE-headquartered digital bank YAP will be allowing locals to open a bank account… Read More

UAE’s BaaS Fintech NymCard Secures $7.6M in Capital via Series A to Accelerate its Expansion Efforts

Abu Dhabi based NymCard, a card issuing and processing platform, has secured $7.6 million in  capital through a Series A funding round. The banking-as-a-service (BaaS) provider confirmed that the investment round was led by Shorooq Partners along with the contributions from OTF Jasoor Ventures and… Read More

LuLu Exchange Partners Global Fintech Ripple and Federal Bank to Enhance Real-Time Payments from UAE to India

The LuLu Exchange in the United Arab Emirates (UAE) has confirmed that they’re teaming up with American Fintech Ripple (which is the subject of a major enforcement action from the US SEC) and Federal Bank in order to enhance real-time payments capabilities from the UAE… Read More

Mastercard, Network Int. to Support MENA Region Digital Payments, as [email protected] Launches Inventory Monetization Platform for MENA Countries

Mastercard has partnered with UAE-headquartered PSP Network International in order to introduce a digital platform with the goal of promoting the adoption of virtual payments across the MENA region. With this new digital platform going live this month, Network International plans to help its customers… Read More

UAE based Investment Advisory Firm Sarwa Acquires Experimental Fintech Permit to Offer Services in Saudi Arabia

Dubai-headquartered investment advisory firm Sarwa is reportedly expanding its business operations to Saudi Arabia after acquiring a temporary or experimental Fintech license from Saudi’s Capital Markets Authority (CMA). This development has come about a year after Sarwa secured $8.4 million in capital, which was one… Read More

Dubai and UAE Economy Expected to Grow 4% in 2021, Supported by Financial Services and Nascent Fintech Sector

Dubai‘s economy is projected to grow by 4% this year, driven by the government’s (fairly) effective response to the COVID-19 pandemic. The Dubai government has taken several measures to extend support to local businesses and individuals. It also launched four stimulus packages valued at 6.8… Read More

Fintech Rise Founder Padmini Gupta Discusses Challenges Experienced by Migrant Workers when Sending Remittance Payments

The Covid-19 pandemic has been a major global disruptor as it has fundamentally changed how people conduct their daily lives. In 2020, we saw many more consumers using online platforms while cash usage dropped considerably in some parts of the world. In developed countries like… Read More

PayBito Reports Record Participation in the UAE For Exchange Affiliate Program

U.S.-based cryptocurrency exchange PayBito announced on Wednesday it has seen record participation for its exchange affiliate program specifically in the UAE region, in the last few months. According to PayBito, the program allows enterprises venturing into the crypto domain to get associated with a renowned brand, and flourish… Read More

Send this to a friend