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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
Read MoreAlgeria
Fintech Development in Algeria Lags Behind MENA Counterparts
Despite strong mobile phone penetration and high mobile broadband connectivity, fintech development in Algeria is still underwhelming compared to other nations in the Middle East and North Africa (MENA) region, experts say. According to World Bank experts, only 16% of
Read MoreBahrain
Bahrain EDB Establishes Gateway to Asia With First Office in Singapore
The Bahrain Economic and Development Board (EDB) has officially revealed the establishment of its first Southeast Asia office in Singapore. This development aims to bolster Bahrain’s position as an attractive destination for investments, particularly for Singaporean businesses. The office will
Read MoreCompany Announcement
Finanteq – Provider of Complete Mobile Solutions and Ready to Integrate Additional Components
Creating a reliable banking application that is appreciated by end users is a challenging process, but it can be achievable when you work with the right vendor. If you are a decision-maker searching for a company to revamp or create
Read MoreDubai
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
Read Moree-Commerce
Businesses Are Banking On 3DS2 for Secure Checkout in MENA’s Us$50B e-Commerce Market
The accelerated digitization brought on by the Covid-19 pandemic has boosted an already popular retail market in the Middle East and North Africa (MENA) region, bringing it to a new, larger, and global online sphere. Marketplaces, financial services providers, and
Read MoreEgypt
Arab Monetary Fund Report: The Arab Open Banking Market Growth
The Open Banking market across Arab Countries to grow by 25% annually over the next five years, The Arab Monetary Fund (AMF) said in a report issued this week, presenting guidelines for an “Effective Open Banking/ Finance Adoption”. The report
Read MoreEthiopia
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 Network is an industry publication covering fintech and digital news across the globe. Our readers are from established financial institutions
Read MoreEvents
Abu Dhabi Finance Week 2023: What to Expect and Who to Meet
Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, and Chairman of the Executive Council, the Abu Dhabi Finance Week (ADFW) is returning this year from November 27 to
Read MoreFinancial Inclusion
Huawei Developer Conference: Brett King Talks Financial Inclusion, Banking 4.0, and More
At the 2020 Huawei Developer Conference held earlier this week, fintech influencer, best-selling author, and entrepreneur Brett King joined the finance tech.session to talk about the role of technology to improve financial inclusion and shared his views on how banking
Read MoreFintech Startup of the Week
Upcoming Neobank Jingle Pay Promises Seamless Digital Onboarding, Multi-Currency Accounts, and More
COVID-19 continues to spread across the United Arab Emirates with now 43,364 confirmed cases, including 295 deaths, according to the latest data from the Johns Hopkins University. But besides the human cost, the impact of COVID-19 is also being felt
Read MoreGhana
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 Network is an industry publication covering fintech and digital news across the globe. Our readers are from established financial institutions
Read MoreICO
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
Read MoreInnovation
5 Key Highlights From Huawei’s Developer Conference
From September 10 to 12, 2020, Huawei Consumer Business Group (BG) held the annual Huawei Developer Conference. Themed HDC.Together, the event saw multiple announcements being made, including the launch of new products, as well as updates on the Huawei Mobile
Read MoreIran
Iran Begins Piloting Its CBDC “Crypto-Rial”
The Central Bank of Iran (CBI) will start piloting the use of the “crypto-rial” — its central bank digital currency this week, according to an announcemeent on the Iran Chamber of Commerce’s website. The announcement further states that one of
Read MoreIraq
24 Startups Join Flat6Labs’ StartMashreq Growth Track Program
Flat6Labs, a seed and early-stage venture capital firm for MENA, announced the selection of 24 startups for its StartMashreq Growth Track program. The startups – founded in Jordan, Lebanon & Iraq – operate in diverse sectors such as fintech, healthtech,
Read MoreIsrael
Turkey’s Akbank Teams With Personetics To Create Banking IQ
Burcu Küçükünal, the Digital, Design and Innovation SVP at one one of Turkey’s most prominent private banks, Akbank, recently discussed her team’s aim to introduce a mobile app as a dependable financial counselor for their clientele, enhancing customer involvement with
Read MoreJordan
Arab Monetary Fund Report: The Arab Open Banking Market Growth
The Open Banking market across Arab Countries to grow by 25% annually over the next five years, The Arab Monetary Fund (AMF) said in a report issued this week, presenting guidelines for an “Effective Open Banking/ Finance Adoption”. The report
Read MoreKenya
South Africa, Nigeria and Kenya: Africa’s Largest Fintech Hubs
In Africa, South Africa, Nigeria and Kenya have the three most developed fintech ecosystems, combining more than 450 companies. This burgeoning industry has been driven by strong demographic indicators, increased connectivity, early regulation, and proactive governments. South Africa: an early
Read MoreKuwait
The First Shari’a-Compliant Digital Bank Launched in Kuwait
In a special ceremony, Kuwait Finance House (KFH) has announced the launch of its first Shari’a-compliant digital bank in Kuwait, called Tam Digital Bank. The ceremony was attended by KFH Chairman, Hamad Abdulmohsen Al Marzouq, members of the Board of
Read MoreLebanon
24 Startups Join Flat6Labs’ StartMashreq Growth Track Program
Flat6Labs, a seed and early-stage venture capital firm for MENA, announced the selection of 24 startups for its StartMashreq Growth Track program. The startups – founded in Jordan, Lebanon & Iraq – operate in diverse sectors such as fintech, healthtech,
Read MoreMorocco
Arab Monetary Fund Report: The Arab Open Banking Market Growth
The Open Banking market across Arab Countries to grow by 25% annually over the next five years, The Arab Monetary Fund (AMF) said in a report issued this week, presenting guidelines for an “Effective Open Banking/ Finance Adoption”. The report
Read MoreNigeria
South Africa, Nigeria and Kenya: Africa’s Largest Fintech Hubs
In Africa, South Africa, Nigeria and Kenya have the three most developed fintech ecosystems, combining more than 450 companies. This burgeoning industry has been driven by strong demographic indicators, increased connectivity, early regulation, and proactive governments. South Africa: an early
Read MoreOman
Arab Monetary Fund Report: The Arab Open Banking Market Growth
The Open Banking market across Arab Countries to grow by 25% annually over the next five years, The Arab Monetary Fund (AMF) said in a report issued this week, presenting guidelines for an “Effective Open Banking/ Finance Adoption”. The report
Read MoreOutlook
Banking and Fintech Predictions for Middle East in 2021
COVID-19 has created a sea change across the financial services sector with respect to remote work and a push for digitisation. The financial sector experienced the most disruption, with an accelerated innovation roadmap that saw manual processes including account opening,
Read MorePakistan
State Bank of Pakistan Approves 5 In-principle Approvals for Digital Retail Banks in Pakistan
In a bid to foster innovation, financial inclusion and availability of affordable digital financial services, State Bank of Pakistan (SBP) has granted In-Principle Approval (IPA) for establishing five digital retails banks, namely HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank
Read MorePartner Content
Regulating Virtual Assets: Practical Implementation and Adoption
Abu Dhabi Global Market guides the virtual asset industry with the world’s first fully comprehensive regulatory framework, ushering in a period of dramatic economic growth and unlocking endless opportunities for innovation. Traditional finance and the virtual asset economy have become
Read MorePayments
Oddle Uses Tap to Pay on Android, SUNMI to Provide Diners a Simple Payment Experience
Oddle helps restaurants manage and grow their business through an all-in-one online and in-person ordering system that allows restaurants to deliver easy-to-use experiences to their customers. The omnichannel platform partners with SUNMI for Android payments hardware and Stripe for payments
Read MoreProject Management
Finanteq – Provider of Complete Mobile Solutions and Ready to Integrate Additional Components
Creating a reliable banking application that is appreciated by end users is a challenging process, but it can be achievable when you work with the right vendor. If you are a decision-maker searching for a company to revamp or create
Read MoreQatar
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
Read MoreRegtech
Here Are the Key Findings From OneSpan’s Global Financial Regulations Report
OneSpan recently released its second annual Global Financial Regulations Report, that outlines major developments in the regulatory landscape. In conjunction with comprehensive research into how the changing regulatory landscape is impacting the banking community, this year’s report also reveals how
Read MoreReport
Middle Eastern Banks Slow in Embracing Fintech Despite Customers Keenness
In the Middle East, despite customers’ willingness to adopt innovative fintech solutions, banks are still reluctant in integrating fintechs into their strategy, with most choosing to follow a “wait and see” approach, according to a new report by Deloitte. In
Read MoreSaudi Arabia
Saudi Personal Finance Platform Yabi Grabs USD 8M Seed Funding
Yabi by Souqalmal was launched in Saudi Arabia this November, boasting a localised personal finance wellbeing platform. Driven by its firm belief in localisation for true value creation when it comes to personal finance, Yabi launched in both English and
Read MoreSouth Africa
South Africa, Nigeria and Kenya: Africa’s Largest Fintech Hubs
In Africa, South Africa, Nigeria and Kenya have the three most developed fintech ecosystems, combining more than 450 companies. This burgeoning industry has been driven by strong demographic indicators, increased connectivity, early regulation, and proactive governments. South Africa: an early
Read MoreSponsored
Over 10,000 Global Finance Leaders Set to Converge at Abu Dhabi Finance Week
Abu Dhabi is set to host the Abu Dhabi Finance Week (ADFW) from 27th to 30th November 2023, a four-day series that promises to be a landmark event in the global financial calendar. Under the patronage of His Highness Sheikh
Read MoreTanzania
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 Network is an industry publication covering fintech and digital news across the globe. Our readers are from established financial institutions
Read MoreTop Picks
Israel’s First Fully Digital Bank Starts Soon
Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, announced that Israel’s first fully digital bank, has partnered with TCS as the first customer of its Banking Service Bureau, powered by TCS BaNCS. TCS was
Read MoreTrading
Fintech Revolution: How Technology is Reshaping Forex Trading in the UK
The foreign exchange (forex) market has undergone a major transformation in recent years due to advances in financial technology (fintech). From online trading platforms to automation tools, new innovations are making forex trading faster, easier and more accessible than ever
Read MoreTurkey
State of Climate Tech VC Report: US$ 651 Million Invested into MENA and Türkiye Startups
CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has partnered with MAGNiTT to unveil ‘The State of Climate Tech Venture Capital Report’. The report delves deep into the dynamic landscape of climate tech investments in the Middle East and
Read MoreVarious
The Status Quo of Open Finance in the Arab World
In Arab countries, open banking is rapidly evolving into the more comprehensible model of open finance, expanding from payment accounts and related services, to a larger variety of financial services, including investments, pensions, insurance and consumer credit. With so many
Read MoreVirtual Banking
CR2 Named Technology Leader in the Digital Banking Platform Market 2022
Quadrant Knowledge Solutions announced today that it has named CR2 as a 2022 technology leader in the SPARK Matrix analysis of the global digital banking platform market. The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global digital
Read MoreYemen
Fintech Fails to Emerge in Troubled Yemen
Yemen is an Arab sovereign state in Western Asia at the southern end of the Arabian Peninsula and the second-largest country (27 Million population) in the peninsula. It is also the poorest country in the Arab region, according to the UN. Once
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