Tagged: uae

February 3, 2021 @ 11:49 pm By Omar Faridi  |  

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

January 27, 2021 @ 6:51 pm By Omar Faridi  |  

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

January 24, 2021 @ 10:28 pm By Omar Faridi  |  

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

January 11, 2021 @ 9:27 pm By Omar Faridi  |  

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

January 4, 2021 @ 10:37 pm By Omar Faridi  |  

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

January 2, 2021 @ 3:14 am By Omar Faridi  |  

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

December 30, 2020 @ 2:40 pm By Samantha Hurst  |  

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

December 26, 2020 @ 4:09 pm By Omar Faridi  |  

Although Dubai’s economy is projected to contract by 6.2% this year, with the travel and hospitality industries hit really hard due to the COVID-19 pandemic, the country saw a significant increase in bank financing for its communications, storage, and transport sectors. There was also solid… Read More

December 21, 2020 @ 10:19 pm By Omar Faridi  |  

A Dubai-based real estate-focused Fintech firm is planning to offer local investors an opportunity to invest in the property market with as little as 2,000 AED (appr. $544). UAE-headquartered Stake, which is supported by a Saudi national, is currently based in the Fintech Hive which… Read More

November 30, 2020 @ 10:36 pm By Omar Faridi  |  

The Dubai International Financial Centre (DIFC) Fintech Hive, the largest Fintech hub in the MENA region, entered into an agreement with Israel-based Fintech-Aviv on Saturday, November 28, 2020. Founded in 2014, Fintech Aviv aims to cater to the needs or requirements of the Israeli Fintech… Read More

November 21, 2020 @ 8:36 pm By Omar Faridi  |  

Israel’s Bank Hapoalim and Abu Dhabi Global Market will be collaborating on various Fintech projects. Both organizations have agreed to support the digital transformation of financial services in the UAE and Israel. Abu Dhabi Global Market (ADGM), a major international financial centre located in the… Read More

November 21, 2020 @ 4:33 pm By Omar Faridi  |  

The United Arab Emirates (UAE) is reportedly leading the MENA region’s Fintech sector with a projected valuation of around $2.5 billion by 2022 (which is still not significant compared to international standards). Regional and multinational financial services providers have been launching digital platforms in order… Read More

November 18, 2020 @ 8:11 am By JD Alois  |  

An Israel based venture fund, Maniv Mobility LP, has led a $3.8 million seed round investment in Fenix, a micro-mobility venture focused on the Middle East. According to Maniv Mobility, this is the first investment by an Israeli venture capital fund in a UAE-based tech… Read More

November 17, 2020 @ 9:28 pm By Omar Faridi  |  

Global payments platform Adyen (AMS: ADYEN), which claims it’s the platform of choice for many of the world’s largest businesses, has announced that it would be expanding its operations into the Middle East region. Adyen’s management noted that they aim to support the momentum of… Read More

November 14, 2020 @ 2:06 pm By Omar Faridi  |  

A report released earlier this week by Checkout.com reveals that digital commerce and online payments are on track for major growth next year. Internal Checkout.com data indicates that digital payment transfers have almost doubled in the MENA region since the beginning of the COVID-19 outbreak…. Read More

November 10, 2020 @ 10:11 pm By Omar Faridi  |  

UAE-based BankOnUS, a major financial services aggregator, has introduced an AI-powered app that aims to offer reliable and cost-effective financial solutions. The app allows users to access several different financial products and services from one wallet or interface. As mentioned on BankOnUs’ official website, the… Read More

November 9, 2020 @ 12:52 pm By Omar Faridi  |  

American Fintech firm Ripple has reportedly chosen the Dubai International Financial Centre as its new regional headquarters. Financial institutions based in over 45 different countries are currently using RippleNet, which is a “decentralized” network for conducting cross-border transactions between different financial services providers. Ripple focuses… Read More

November 4, 2020 @ 11:35 pm By Omar Faridi  |  

The central bank in the UAE has issued new regulations on Stored Value Facilities (SVF). The updated regulatory guidelines apply to local Fintech companies and various other non-bank payment service providers. The new guidelines aim to make it easier to access the UAE market while… Read More

November 4, 2020 @ 3:48 pm By Samantha Hurst  |  

  NOW Money, a UAE-based digital account service, announced on Wednesday it has joined forces with Visa to provide low-income customers in the Gulf region access to its full-service digital banking solution. Founded in 2015, NOW Money claims it uses “cutting-edge” mobile technology to improve… Read More

November 4, 2020 @ 8:56 am By Omar Faridi  |  

Nasdaq Dubai has welcomed the listing of $600 million Sukuk by the Islamic Corporation for the ongoing development of the nation’s private sector. According to a release shared with Crowdfund Insider, the Sukuk offering was allocated to investors based in the Middle East, Asia and… Read More