Tagged: united arab emirates

Fintech Professional Recommends Adopting “Composable” Banking, which he Argues Is More Flexible than Modular Approach

Miljan Stamenkovic, the Regional Director at Mambu, a multinational software-as-a-service (SaaS) banking platform, notes in a blog post published on Trade Arabia that during the last few years, many Gulf or Middle East region countries have been increasingly adopting digital platforms and services. Middle Eastern… Read More

There are Now 142 Islamic Fintech Firms Globally, According to IFN Islamic Fintech, a “One-Stop-Shop” for Info on Shariah-Compliant Services

IFN Islamic Fintech, a “one-stop-shop” for industry knowledge, networking, and communication in the global Islamic financial technology space, revealed on July 30, 2020, that there are now at least 142 Fintech firms globally that reportedly provide Shariah-compliant products and services. As reported in late June… Read More

Chengdu’s Jiaozi Fintech Dreamworks and Dubai International Financial Center to Take Advantage of Fintech Opportunities in the UAE and China

The Dubai International Financial Center (DIFC) and Jiaozi Fintech Dreamworks, a Chengdu, China-based Fintech innovation platform, have agreed to allow financial technology firms in both China and the UAE to take advantage of new opportunities by accessing each others’ respective markets. Under the agreement, the… Read More

Apps for P2P Money Transfers and Account Aggregation are Most Popular Fintech Solutions in the Middle East: Survey

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

Fintech Abu Dhabi Innovation and Startups Team to “Digitally Visit” 23 Countries to Select High-Potential Businesses for Fintech100 Program

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

UAE Fintech Spotii, which Offers a “Shop Now, Pay Later” Service without Charging Interest, Secures Additional Capital from Daman Investments

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

MENA Region Financial Hubs, the UAE and Qatar, Report Significant Increase in Digital Banking Activities during COVID-19

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

Fintech Abu Dhabi Innovation Challenge: UAE’s Central Bank and Abu Dhabi Global Market to Support Local and International Fintech Projects

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

Fintech Startup Ecosystem in Bahrain Ranked Among the Fastest-Growing Sectors in the Middle East: Report

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

Arif Amiri, CEO at Dubai International Financial Center, Confirms there are Over 160 Fintechs it’s Support to “Drive Sustainable Growth”

Dubai UAE Beach Camels fredrik-ohlander-unsplash

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

India Remains a “Crucial” Market for the Dubai International Financial Center, Salman Jaffery, Chief Business Development Officer at DIFC Says

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

Fintech Adoption: Over 80% of Middle East Consumers Say they’re Willing to Use Financial Technology Apps

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

Middle East Fintech Sector Continues to Expand as Bahrain and UAE Move Up in Global Startup Rankings: Report

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

Samsung backed Blockchain Firm Blocko and Islamic Research and Training Institute to Implement DLT based Smart Credit Management System

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

Dubai’s Tpay Mobile Acquires Payguru, a Turkish Payments Company that Supports Mobile Transactions

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

Fintech Investments: Dubai International Financial Center to Provide Funding to FlexxPay, Go Rise, Sarwa, NOW Money

  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

UAE’s Fintech Rise Partners Pakistan’s HomeShopping.pk to Offer New Buy Now Pay Later Services to Overseas Pakistanis

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

India Fintech Startup Jingle Pay Set to Bring Neobanking Services to the Middle East

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

The Fintech Sector Will Become Even Stronger After COVID-19, According to New Report from Dubai

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

Mastercard and UAE’s Hub71 Sign MoU to Work Cooperatively on Global Fintech Projects

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

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