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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10 Fintech Startups in Dubai and Abu Dhabi You Have to Know
The fintech market in the Middle East and North Africa (MENA) region is predicted to enter a new era of
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