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News from all over the world
Mastercard Partners With UAE Life-Style Banking App to Issue Virtual Prepaid Cards Across GCC
Mastercard is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. This partnership marks a significant stride in Mastercard‘s ongoing commitment to advancing digitalization in the payments
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77 % Of IT Leaders in the UAE Claim Their Digital Infrastructure Is Prepared for AI Technology
More than three out of four IT leaders surveyed in the UAE (77%) say their existing IT infrastructure is prepared for the demands of artificial intelligence (AI) technology, as the country experiences widespread adoption across industries, according to the Equinix
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Israel Maintains Startup Leadership Position Across Middle East, Africa
For the fourth year in a row, Israel is being recognized as the largest and most advanced startup hub in the Middle East and Africa (MEA) region, commended for its large startup ecosystem, dynamic funding market and outstanding culture of
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Singapore and MENA Companies Tap Bilateral Business Opportunities
Technology startups and investors from Singapore and Middle East and North Africa (MENA) nations are pursuing bilateral business opportunities and strengthening their ties through partnerships and financial participation. A new analysis by Magnitt, a startup data platform focusing on the
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Winklevoss Twins’ Crypto Exchange Gemini Plans to Apply for UAE Crypto License
The Winklevoss twins-owned crypto exchange Gemini announced that it will soon begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE). The firm said that by applying for a license, it will
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Tabby Increases Debt Facility to $350M
Tabby, the MENA’s shopping and financial services app, has successfully closed a new financing round resulting in upsizing its debt facility to $350 million, over a 2X increase since its last debt raising announcement. The round involved the participation of
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Saudi Arabia Permits 3 New Fintech Companies to Operate Under Its Regulatory Sandbox
The Saudi Central Bank (SAMA) announces granting permits to three innovators to test their Open Banking solutions in the Regulatory Sandbox. These companies are: Tarabut Gateway Company for Information Technology, Umg Alholol Trading Co (known as Single View), and Drahim
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Saudi Central Banks Permits First Time BNPL Companies
The Saudi Central Bank (SAMA) granted “Spotii” and “Madfu” permits to carry out Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law for providing finance to customers wishing to purchase products or
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UAE and Hong Kong Central Banks to Cooperate on Fintech, Virtual Asset Rules
The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) is set to enhance collaboration between the financial services sectors of the two jurisdictions. The CBUAE and the HKMA agreed to strengthen cooperation in
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Abu Dhabi Islamic Bank Offers Remote Account Opening for Businesses
Abu Dhabi Islamic Bank (ADIB) is now offering small and medium-sized enterprises (SMEs) remote account opening services through its mobile app by deploying the Emirates Face Recognition (EFR) technology. Real time verification of trade licenses and customer data, facial recognition,
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