Posts From Fintechnews Middle East

10 Interesting Fintech Startups In GCC

Realizing that their dependency on oil has put them in a precarious position, Middle Eastern economies have begun exploring other sectors for greater diversification. Many of these such as Saudi Arabia and the United Arab Emirates (UAE) are putting their

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Iraq Underdeveloped Financial System Both A Challenge And An Opportunity For Fintech

With 11% of the population having a formal banking account, the lowest number of ATMs in the Middle East and Northern Africa (MENA), and a smartphone penetration of just 17%, the lowest in the region, Iraq is not what we

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9 Fintech Startups in Middle East to Watch in 2018

The fintech sector in the Middle East, despite being relatively small when compared with the likes of the US or Europe, has grown tremendously these past years with locations such as Abu Dhabi and Dubai in the United Arab Emirates

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First Abu Dhabi Bank chooses Accuity Data and Technology Solutions

Accuity, a global provider of risk and compliance, payments and know your customer solutions has been selected by First Abu Dhabi Bank (FAB) to provide integrated global sanctions screening and data. First Abu Dhabi Bank (FAB), the UAE’s largest bank

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ICO Arrives In The Middle East But VC Funding Still Dominates

2017 was the year initial coin offerings (ICOs) became mainstream. The fundraising method has raised in popularity and is now being used by an increasing number of startups in blockchain and cryptocurrency space looking for capital. In 2017 alone, startups

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Blockchain Spending in the Middle East & Africa to More than Double in 2018

Spending on blockchain solutions in the Middle East and Africa (MEA) is set to more than double this year, according to the latest insights from International Data Corporation. The global technology research and consulting firm’s recently launched Worldwide Semiannual Blockchain Spending

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ADGM Launches e-KYC Utility Project With Consortium Of Key UAE Financial Institutions

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, announces the initiation and development of an electronic-Know-Your-Customer (e-KYC) utility in close collaboration with a key team of the UAE’s largest

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Crowdfunding And Peer-To-Peer Lending In The UAE

In the United Arab Emirates (UAE), peer-to-peer (P2P) lending has emerged as a way to support local small and medium-sized businesses (SMEs), many of which have been rejected by conventional banks. According to data from Khalifa Fund, approximately 50-70% of

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Fintech Innovation: Why The Middle East Will Be The Place To Be In 2018

The Middle East’s fintech ecosystem grew significantly in 2017 and further development is expected in the coming years fueled by government support and increasing demand for accessible, cheap, tech-enabled financial solutions. Fintech startups have raised over US$100 million in the

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Turkish Fintech Sector Sees Strong Growth

The Turkish fintech ecosystem has shown strong growth with the support of a solid banking industry, a thriving startup scene, and a growing young population. In particular, Istanbul, the most populous city in Turkey and the country’s economic, cultural and

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