Tagged: uae

July 9, 2020 @ 10:38 pm By Omar Faridi  |  

Approximately 20% or one-fifth of bank account holders in the Middle East are now using Fintech solutions, according to a recent survey performed by Deloitte. The survey, which examined nine key markets in the Middle East, reveals that consumers in the region are quite willing… Read More

July 9, 2020 @ 7:49 am By Omar Faridi  |  

The Fintech Abu Dhabi Innovation and startups team is reportedly planning to “digitally visit” 23 different countries throughout the world between July and November 2020, The Fintech group aims to meet and potentially work with the founders of high-potential early-stage financial technology companies. The best… Read More

July 7, 2020 @ 12:39 am By Omar Faridi  |  

United Arab Emirates (UAE) based “Shop Now, Pay Later” Fintech Spotii announced on July 5, 2020 that Daman Investments had invested in its operations. Daman Investments is a non-banking financial services company that’s known for its involvement in the MENA region business sector. Spotii is… Read More

July 6, 2020 @ 9:31 pm By Omar Faridi  |  

Abu Dhabi Islamic Bank (ADIB), a leading UAE-based financial institution, reports that it has experienced significantly increased levels of digital banking adoption across its retail and corporate services during H1 2020. As noted in a release, almost 60% of ADIB’s retail clients have been using… Read More

July 2, 2020 @ 7:48 am By Omar Faridi  |  

The central bank of the United Arab Emirates (UAE) and the Abu Dhabi Global Market, an international financial center and free zone based on the Al Maryah Island in the nation’s capital, Abu Dhabi, noted on July 1, 2020, that they’re inviting Fintech firms to… Read More

June 29, 2020 @ 10:54 pm By Omar Faridi  |  

The Fintech startup ecosystem in Bahrain has been ranked among the highest in the Middle East region. The sector is also ranked near the top in terms of Islamic finance regulation, according to Startup Genome’s Global Startup Ecosystem Report (GSER) 2020. The Central Bank of… Read More

June 27, 2020 @ 5:11 pm By Omar Faridi  |  

Dubai is consistently ranked among the world’s leading Fintech hubs. Fintechs in Dubai have been supported by the UAE (United Arab Emirates) government which has introduced many progressive policies and regulations. In statements shared with the Khaleej Times, Arif Amiri, CEO at the Dubai International… Read More

June 26, 2020 @ 12:15 am By Omar Faridi  |  

Fintech firms based in India and the United Arab Emirates (UAE) plan to continue working cooperatively in order to address key socio-economic changes and challenges resulting from the global COVID-19 outbreak. India and UAE’s financial hub Dubai aim to stay on top of major changes… Read More

June 23, 2020 @ 11:42 pm By Omar Faridi  |  

Over 80% of banking customers in the Middle East say they’re ready or willing to use Fintech apps, however, many traditional lenders have not started integrating financial technology products, according to a recent study by Big Four auditing firm Deloitte. The study revealed that 18%… Read More

June 21, 2020 @ 4:23 pm By Omar Faridi  |  

Bahrain and the United Arab Emirates (UAE) were recently ranked among the world’s top 100 destinations for startups across the globe. A new study published by StartupBlink, called the Startup Ecosystem Rankings Report, determines the score for each country by taking into consideration many different… Read More

June 17, 2020 @ 7:56 am By Omar Faridi  |  

The Islamic Research and Training Institute (IRTI), a member of the Islamic Development Bank Group (IsDB), has teamed up with Samsung-backed blockchain tech company, Blocko, in order to implement a distributed ledger technology (DLT)-powered “smart” credit management platform. As mentioned in a release shared with… Read More

June 13, 2020 @ 11:45 am By Omar Faridi  |  

Dubai-based Tpay Mobile, a mobile payment provider, has reportedly acquired Payguru, a Turkish payments company. The amount paid for the acquisition has not been disclosed. Payguru supports mobile payments, ATM cash payments, and standard bank transfer services. The company has integrated its platform with three… Read More

June 10, 2020 @ 9:48 pm By Omar Faridi  |  

  The Dubai International Financial Centre (DIFC), an organization that connects the MENA and Southeast Asia region’s markets with the economies of Europe, Asia, and the Americas, has made strategic investments in four Fintech companies. According to a press release, the DIFC has invested in… Read More

June 2, 2020 @ 1:33 am By Omar Faridi  |  

United Arab Emirates (UAE)-based Rise, a Fintech firm that offers various financial services to low-income migrants in the Middle East region and recently acquired $1.4 million in capital for ongoing development, has partnered with Pakistani e-commerce firm HomeShopping.pk. Through the partnership, the companies will launch… Read More

May 22, 2020 @ 11:26 am By Samantha Hurst  |  

Jingle Pay, an India-based neobanking startup, announced on Thursday it is launching its fintech services into the United Arab Emirates (UAE). Launched in 2019, Jingle Pay offers social payment solutions for individuals and businesses on mobile as well as desktop platforms. “Jingle Pay has digitized… Read More

May 18, 2020 @ 11:33 pm By Omar Faridi  |  

The Fintech sector will get stronger due to the COVID-19 outbreak, as more consumers begin using digital payments platforms and also as more people start working remotely, according to a new report from the Dubai Future Foundation (DFF). The report noted: “This sector will successfully… Read More

May 18, 2020 @ 11:12 pm By Omar Faridi  |  

Payments giant Mastercard (NYSE:MA) has committed to a Memorandum of Understanding (MoU) with Hub71, a technology ecosystem based in Abu Dhabi Global Market Square that supports global Fintech initiatives and leading tech firms. As mentioned in the announcement, Hub71 is a flagship project of the… Read More

May 18, 2020 @ 9:19 am By Samantha Hurst  |  

Digital asset custody platform Koine announced on Monday it has received in-principle approval (IPA) to provide custody in relation to Virtual Assets in the Abu Dhabi Global Market (ADGM). According to Koine, the IPA was granted by the Financial Services Regulatory Authority (FSRA) of ADGM…. Read More

May 11, 2020 @ 2:16 pm By Omar Faridi  |  

United Arab Emirates (UAE)-based Fintech firm Spotii has introduced its shop now (or buy now) pay later platform. The credit is provided at “no interest, no cost.” Spotii has teamed up with various online merchants, allowing them to provide four “cost-free” installments to customers when… Read More

May 7, 2020 @ 11:18 pm By Omar Faridi  |  

The United Arab Emirates’ (UAE) top regulatory authorities have asked local businesses to leverage the latest Fintech solutions to counter anti-money laundering (AML) and other types of illicit financial activities. The advisory was issued by the nation’s reserve bank, Ministry of Economy, Ministry of Justice,… Read More