Fintech News Middle East

Qatar and Malaysia’s Labuan Financial Centers Ink MoU to Strengthen Ties

The Qatar Financial Center Authority (QFC Authority) has signed a Memorandum of Understanding (MoU) with Malaysia’s Labuan International Business and

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Morocco Emerges as Third Largest Fintech Hub in the Arab World

Morocco is the third largest fintech hub in the Arab world, hosting 13% of all 400 active fintech solutions, or

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Abu Dhabi Financial Regulator Sets up ADGM Authority

The Board of Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, has approved the establishment of

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Nigerian Core Banking Provider Appzone Secures US$10 Million Funding

Appzone, a Pan-African fintech software provider building proprietary solutions for the continent’s banking and payments industries, has announced the close

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Egyptian Payments Firm Paymob Completes Series A Funding Of US$18.5 Million

Egypt’s digital payments provider Paymob announced that it has secured US$15 million in a second tranche of its Series A

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Irish Regtech Startup DX Compliance Expands Footprint to the UAE

Irish regtech startup DX Compliance has launched its operations in the Middle East from its new base in Abu Dhabi,

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EFG Hermes Announces Partnership With Lulu Group International In Egypt

EFG Hermes, a financial services corporation in frontier emerging markets (FEM), announced the launch of a new partnership between its

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Qarar Teams up With CredoLab for Alternative Credit Risk Scoring Solution

Credit risk and decision analytics company Qarar announced a new partnership with CredoLab, a Singapore-based alternative-data credit risk scoring provider

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Dubai Economy and DIFC Inks Deal to Expand the UAE KYC Blockchain Consortium

Dubai Economy and Dubai International Financial Centre (DIFC) Authority have signed an agreement to consolidate efforts and expand the UAE

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Nigeria Lays Groundwork for Open Banking

With a booming fintech sector, the Nigerian government and regulators are now setting the foundation for open banking, releasing regulatory

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Western Union, Pakistan’s Faysal Bank Team up for Real-Time Account Payout Capability

Western Union, a provider of cross-border, cross-currency money movement and payments, is collaborating with Faysal Bank, one of Pakistan’s Islamic

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Stripe Expands Its Footprint to the Middle East With New UAE Office

Stripe, an Irish-American payment processing platform, announced its official launch in the United Arab Emirates (UAE) which will be Stripe’s

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Mobile Money Boom Lays Foundation for Fintech In Kenya

Home to over 150 fintech companies, Kenya has one of the biggest and most developed fintech ecosystems in the African

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ADGM Rolls Out New Regulatory Framework for Third Party Financial Technology Services

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has introduced a new regulatory framework for the

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Fintech in Africa will Boom in 2022: Fintech News Network Launches Its 8th Publication

The Fintech News Network is pleased to announce the launch of our eighth publication; Fintech News Africa. The Fintech News

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SABB and Geida Launches Tap-on-Phone Payment Option in Saudi

SABB and Geidea launched a partnership to launch an app-based tap-on-phone (SoftPoS) solution under the enablement and guidance of Saudi

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Dubai’s NOW Money Raises $7 Million in Funding

NOW Money, a Dubai-based digital banking solution provider for low-income migrant workers, has secured $7 million in a funding round

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Dubai Regulator Seeks Feedback on Security Tokens Regulations

The Dubai Financial Services Authority (DFSA) is requesting feedback on its proposed regulation of security tokens. The DFSA has published its

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Saudi Central Bank Grants 2 More Licenses to Payment Companies

The Saudi Central Bank (SAMA) has granted two licenses to International Digital Solutions Co and Azm Fintech Co to provide

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Ethiopian Fintech Scene Shows Great Promise as Africa’s Next Fintech Hub

Ethiopia’s large population of unbanked, the government’s current digital push, and recent finance reforms are bringing new opportunities for fintech

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MoneyGram Inks Deal to Join Pay+ Mobile Wallet for Middle East Expansion

MoneyGram, an American money transfer company, announced that it has signed an agreement to launch its remittance capabilities on Pay+,

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UAE Fintech Ecosystem Should Brace Itself for Greater Risks That Lies Ahead

A survey conducted by Várri Consultancy, a Dubai-based consultancy focused on strategy and risk assessment, found that as the UAE

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Saudi Licenced Fintech Startup Hala Closing a $6.5 Million Series A Round

Hala (previously Halalah) one of the first fintech startups to obtain the full SAMA license, secures $6.5 Million (24.3 Million

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Crypto Businesses Now Able to Set Up at DMCC in Dubai Following SCA Agreement

The Free Zone and Government of Dubai Authority on commodities trade and enterprise – has entered into a memorandum of

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UAE Central Bank Issues Two New Payment Systems Regulations

The Central Bank of the UAE (CBUAE) has issued two new regulations namely the Large-Value Payment Systems (LVPS) Regulation and

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Saudi Crowdlending Platform Lendo Secures $7.2 Million in Series A Funding Round

Saudi-based crowdlending platform Lendo announced that it has successfully raised US$ 7.2 million (SR 27 million) in Series A within

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Flutterwave Clinches Unicorn Status With US$170 Million Funding

African payments company Flutterwave announced that it has secured US$170 million during its Series C round, attaining unicorn status with

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Citi Unveils Digitised Documentation for Cross-Border Payments

Citi has announced the launch of a new service for its institutional clients that speeds up the processing of their

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Emirates NBD Integrates With UAE PASS for Digital Onboarding

Emirates NBD announced that it has integrated its website with UAE PASS, enabling individual customers to seamlessly open a bank

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Baraka Unveils Commission-Free Investment Platform for the UAE

baraka, a UAE-based fintech startup, introduced its proprietary commission-free mobile trading platform following a pre-seed capital raise of USD 1

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