Tagged: united arab emirates

Nearly 75% of Payments in the UAE will Be Cashless by 2025 as Country Prepares for Post COVID Business Environment

  Dubai Economy recently brought together the main stakeholders in the country’s cashless economy ecosystem at the Future Economy Lab event (workshop). The event was conducted as part of the UAE’s ongoing efforts to address COVID-19 related challenges. The Middle Eastern country is focused on… Read More

OurCrowd Hosts Event with Emirates Angels Investors Association as Diplomatic Thaw Opens Up Opportunity

OurCrowd, the leading global investment crowdfunding platform, and the Emirates Angels Investors Association, an Emirati angel investment network, held an online event today allowing Israeli investors and entrepreneurs a first glimpse of the tech opportunities available in the United Arab Emirates following the historic diplomatic… Read More

UAE’s Fintech Galaxy to Focus on Financial Inclusion via Hackathon for Implementing Digital Lending and Other Financial Tech Solutions

UAE based Fintech Galaxy, a Fintech marketplace and innovation platform, has teamed up with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in order to launch a virtual hackathon – which focuses on supporting financial inclusion and encourages regulatory collaboration in the MENA region. According to… Read More

Fintech Businesses and Startups in Israel, the UAE, and Bahrain Form Strategic Partnerships Following Signing of Abraham Accords

The Abraham Accords were recently signed between Israel and the United Arab Emirates (UAE) and the Kingdom of Bahrain.  The agreement is officially called the Abraham Accords Peace Agreement: Treaty of Peace. It establishes diplomatic relations and “full normalization” between Israel and several Middle Eastern… Read More

Abu Dhabi based ADQ to Launch Digital Banking Platform for UAE Residents

Abu Dhabi’s ADQ is reportedly planning to launch a digital banking platform. ADQ, which operates as a state-managed holding firm, confirmed that it will establish a virtual bank in the United Arab Emirates (UAE). As reported by Reuters, the ADQ said it would be using… Read More

Checkout.com Executives in the UAE Expect Digital Payments to Overtake Cash Usage due to Rise of E-Commerce

Mo Ali Yusuf, the VP at Checkout.com for the MENA and Asia Pacific region, notes that for anyone who has been living in the UAE for over 4 years, it’s clear to see that the digital payments are increasingly being adopted, instead of using cash… Read More

Fintech Professional Claims that Digitization of the UAE Economy is Being Led by Individual Consumers, Not Service Providers

Sridhar Iyer, the Executive Vice President and Head of Mashreq Neo (the digital banking division launched in 2017), recently noted that the United Arab Emirates (UAE) has one of the highest smartphone or mobile Internet penetrations rates in the world. Iyer claims that the UAE’s… Read More

Israel based Fintech Fintica Teams Up with UAE-headquartered CEO of Barker and Booth

Mohammed Al Beloushi, CEO at Barker and Booth Commercial Agency LLC, has confirmed that his company will make a strategic investment into the operations of Israel-based Fintech firm Fintica AI LLC, a deal made after the signing of the Abraham Accords – which is the… Read More

UAE’s Ministry of Finance Partners with Local Banks to Offer Digital and Contactless Payments for Settling Government Service Fees

The UAE’s Ministry of Finance will be working with the First Abu Dhabi Bank (FAB) in order to launch electronic or digital Dirham contactless payments cards for settling governmental service charges. The eDirham has been set up as a system of digital channels that are… Read More

DAPI, a MENA Region Service for leveraging Open Banking to Enhance Payments via Fintech Apps, Writes Open Letter to UAE’s Bankers

The team at DAPI, the first financial API in the MENA region that allows financial technology apps to leverage Open Banking by facilitating digital payments and accessing real-time banking data, have written an open letter to the UAE Bank Federation Advisory Council. The letter, which… Read More

Diplomatic Thaw: As Arab Countries Open Relations with Israel, OurCrowd Sees Opportunity

Jon Medved

OurCrowd, a leading global investment crowdfunding platform that is based in Israel, is well-positioned to take advantage of the improving relations in the middle east. Last month, Israel and the United Arab Emirates (UAE) announced the normalization of diplomatic relations. The official signing of the… Read More

UAE’s Buy Now Pay Later Fintech Spotii to Support Business Growth with Microsoft AppSource by using its Network to Co-Market Services

Dubai’s Buy Now Pay Later (BNPL) Fintech firm Spotii has officially launched on Microsoft AppSource, which is an app store and online marketplace for companies using various Microsoft products. Spotii’s digital platform allows fashion, beauty, and lifestyle retail outlets to provide more flexible payment plans… Read More

MENA Region Fintech Companies Continue to Apply for Digital Bank Licenses in the UAE

The Abu Dhabi Global Market (ADGM) has received applications from MENA region companies that are interested in launching digital banking platforms. Richard Teng, who works at the emirate’s international financial free zone as the head of its Financial Services Regulatory Authority, revealed that his organization… Read More

Dubai International Financial Centre to Continue Working with Local Organizations on Fintech Projects

The Dubai International Financial Centre (DIFC), which serves as an global financial hub in the MENA and South Asia region, has signed a Memorandum of Understanding (MoU) with the Dubai Future Foundation (DFF). Both organizations have agreed to focus on supporting innovative Fintech projects in… Read More

Small Businesses in the UAE have been Hit Really Hard due to COVID-19, According to MENA Region Fintech Industry Executive

The MENA region’s digital payments sector is projected to grow by 6.5% from 2020 to 2021. The Coronavirus crisis may have accelerated the shift towards the adoption of all-digital platforms and services, including virtual payments. The MENA region’s Fintech industry participants recently noted that the… Read More

Kokila Alagh: Founder of KARM Legal, Member of MENA Fintech Board, Discusses Role of Emerging Tech in Streamlining Middle Eastern Businesses

Kokila Alagh, Founder of KARM Legal and a member of the MENA Fintech board, recently shared the latest updates from the Middle East region, including the United Arab Emirates (UAE) with Crowdfund Insider. Alagh works closely with the Arab Monetary Fund (AMF), the Dubai International… Read More

Contactless Transactions are Expected to Double the Number of Digital Payments to $8.26 Trillion by 2024: Report

Contactless transactions are expected to double the number of digital payments to $8.26 trillion by 2024, which is a key Fintech trend that has been accelerated due to COVID-19. Businesses are increasingly using contactless technology to improve customer experience and help them make secure payments,… Read More

Digitization and Growth in India and UAE’s Fintech, Healthtech Sectors will Lead to Key Changes in Financial and Medical Services, Industry Exec Says

Sameer Nawani, Chief Representative of the Dubai Chamber’s International Office in Mumbai, has noted that the digitization and ongoing growth in technology will lead to significant changes in financial and healthcare services. Nawani, whose comments came during a recent webinar about the impact of COVID-19… Read More

Fintech Firm [email protected] to Work with UAE’s iMass LLC on Offering Lending Solutions, Abu Dhabi Global Markets also Working on Financial Tech

[email protected] recently committed to a Memorandum of Understanding (MOU) with Khaled Abdulla Almass and his investment firm, iMass LLC, in order to focus on the expansion and ongoing development of [email protected] into the Middle East region. [email protected] is a Fintech firm that’s owned by Italy’s… Read More

UAE Fintech NymCard Granted In-Principle Approval to Hold, Transfer Customer Funds, while Issuing Payment Cards

Abu Dhabi based NymCard, a card issuing and processing platform, has reportedly been granted “in-principle” approval from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market. The Fintech firm aims to assist financial service providers including banks, and other financial technology companies… Read More

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