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News from all over the world
Dubai Insurance Invests in OneDegree for Digital Asset Insurance Partnership
Hong Kong’s insurtech OneDegree has secured an investment from the Dubai Insurance Company for its Series B funding round as part of a partnership to offer digital asset insurance in the United Arab Emirates (UAE). The sum was not disclosed.
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Abu Dhabi Finance Week 2023 Wraps Up with Record 18,000+ Participants
The Abu Dhabi Finance Week (ADFW) wrapped up its 2023 edition after having successfully hosted more than 18,000 attendees from the financial sector. The event was held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al
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Coinbase Asset Management Kicks Off Smart Contract Project Diamond in Abu Dhabi
Project Diamond, a smart contract-powered platform designed by seasoned asset managers for institutions to seamlessly create, buy, and sell digitally native assets, has launched with the execution of the first debt instrument on the platform, in preparation to enter the
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Saudi’s Debt Crowdfunding Marketplace Lendo Closes $28M Series B Funding
Lendo, a Saudi Arabia-based shariah-compliant debt crowdfunding marketplace, has raised SAR 105 million ($28 million) in Series B funding led by Sanabil Investments, a wholly-owned company by the Public Investment Fund PIF. The round saw participation from Shorooq Partners, AB
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Aramco and SBI Holdings Enter MoU for Digital Asset Collaboration
Aramco has entered into a Memorandum of Understanding (MoU) with SBI Holdings, a Japanese-based financial services company. The MoU outlines a potential business alliance between Aramco and SBI Holdings, aiming to explore collaboration in several key areas. These areas include digital assets,
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Fintech Funding in Jordan Accelerates
In Jordan, fintech is emerging as one of the top investment targets for investors, attracting US$26 million in funding between 2018 and 2022 or 10% of all startup investments during the period, a new report by Magnitt, a data platform
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Wio Bank Launches Mastercard Carbon Calculator
Wio Bank was created to reboot banking in the UAE for both businesses and consumers. In alignment with the UAE’s Year of Sustainability, Wio Bank has integrated the Carbon Calculator into its Wio Personal application, setting a new standard for
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Indonesia and UAE Central Banks Expand MOU on Islamic Finance, Digital Innovation
The Bank Indonesia (BI) and Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding (MOU) to enhance collaboration in various central banking sectors, including Islamic finance. This agreement, signed by BI Governor Perry Warjiyo and
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UAE’s 1 Trillion AED Goal In Sustainable Finance by 2030
Coinciding with the UAE’s hosting of COP28, the Central Bank of the United Arab Emirates (CBUAE), in cooperation with the COP28 Presidency, organised an event to facilitate global climate finance solutions and progress towards a sustainable future. During this global
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Qatar Central Bank Starts Receiving Applications for Loan-Based Crowdfunding Service Providers
Qatar Central Bank (QCB) has started to receive the applications for licensing and regulating the loan-based crowdfunding service providers in conformity with the strategy of financial sector and fintech in Qatar. The bank is permanently committed to regulating and developing
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