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Abu Dhabi

First Abu Dhabi Bank Taps Microsoft Azure to Accelerate Digital Shift

11. April 2024

The United Arab Emirates’ First Abu Dhabi Bank (FAB) has announced a strategic partnership with Core42, a subsidiary of G42 specialising in AI solutions, to facilitate the transfer of its data center operations to the Microsoft Azure cloud platform. This

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Algeria

Fintech Development in Algeria Lags Behind MENA Counterparts

2. June 2021

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

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Bahrain

Singapore Gulf Bank Secures Funding From Bahrain’s Sovereign Wealth Fund

6. March 2024

Bahrain’s sovereign wealth fund Mumtalakat announced an investment in Singapore Gulf Bank (SGB), a new digital bank founded by Whampoa Group. This investment will support SGB’s launch and growth in Bahrain, following the bank’s recent licensing approval from the Central

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Company Announcement

Forex Trading Strategies for the UK Market: Adapting to Local Economic Conditions

20. February 2024

The UK forex market is different from other markets in several fundamental ways. These differences stem from the fact that it is at the center of global trading due to its proximity to American and European markets, with some traders

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Dubai

Crypto.com’s Dubai Entity Receives Approval

12. April 2024

Crypto.com announced that its Dubai entity, CRO DAX Middle East FZE, has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and is launching the Crypto.com Exchange for institutional investors as its first operational milestone. This operational approval

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e-Commerce

Changing Consumer Behavior, Digital Adoption Drive E-Commerce Surge in the Middle East

5. February 2024

The Middle East is witnessing a dynamic shift in consumer behavior, preferences and digital adoption, prompting a transition towards online shopping and e-commerce, a new report by RetailX, a UK-based retail and e-commerce research company, says. The report, titled “Middle

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Egypt

Moneyhash Raises $4.5 Million Seed Funding

4. March 2024

MoneyHash, an USA and Egypt based payment orchestration platform has successfully raised $4.5M in a seed funding round. The round was co-led by COTU Ventures and Sukna Ventures, with participation from RZM Investment, Dubai Future District Fund, VentureFriends, and a

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Ethiopia

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

31. March 2021

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

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Events

UAE’s E-Invoicing Model: A Blueprint for the Region?

21. February 2024

More than 100 experts from 24 countries gathered in Dubai on February 13 and 14, 2024, for the second edition of the E-Invoicing Exchange Summit. Amid the recent and forthcoming introductions of E-Invoicing in the MENA region, the timing of

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Financial Inclusion

Huawei Developer Conference: Brett King Talks Financial Inclusion, Banking 4.0, and More

22. September 2020

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

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Fintech Startup of the Week

Upcoming Neobank Jingle Pay Promises Seamless Digital Onboarding, Multi-Currency Accounts, and More

18. June 2020

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

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Ghana

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

31. March 2021

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

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ICO

ICO Arrives In The Middle East But VC Funding Still Dominates

20. February 2018

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

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Innovation

5 Key Highlights From Huawei’s Developer Conference

22. September 2020

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

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Iran

Iran Begins Piloting Its CBDC “Crypto-Rial”

22. September 2022

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

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Iraq

24 Startups Join Flat6Labs’ StartMashreq Growth Track Program

13. September 2023

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,

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Israel

Personetics Co-founder David Sosna Steps Down as CEO, Udi Ziv Named Successor

21. February 2024

Personetics, a global provider of data-driven personalisation solutions, announced that it has named Udi Ziv as its new Chief Executive Officer. Ziv, who brings a wealth of experience from previous leadership roles, including at SAP, NICE, and Earnix, will replace

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Jordan

Fintech Funding in Jordan Accelerates

11. December 2023

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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Kenya

Middle Eastern and African Region Sees Neobanking Sector Picking up Steam

31. January 2024

Though still in their early stages of development compared to Europe and the US, neobanks are playing a growing role in the Middle East and Africa (MEA) region by addressing challenges in accessing traditional financial services. The Fintech Times identified

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Kuwait

The First Shari’a-Compliant Digital Bank Launched in Kuwait

6. November 2023

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

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Lebanon

24 Startups Join Flat6Labs’ StartMashreq Growth Track Program

13. September 2023

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,

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Libya

Backbase Drives Digital Transformation at Libyan Islamic Bank

4. January 2024

Libyan Islamic Bank (LIB) has joined forces with Backbase, a provider of engagement banking platform solutions, in a bid to enhance its digital banking services. The bank plans to upgrade its mobile app for retail customers and introduce new digital

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Morocco

Arab Monetary Fund Report: The Arab Open Banking Market Growth

26. October 2023

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

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Nigeria

The Top Nigerian Fintech Products According to The Nigerian Tech Ecosystem Movie

31. January 2024

On December 20, 2023, Peace Itimi, the host of Founders Connect, a YouTube show that interviews up-and-coming entrepreneurs in the African startup landscape, premiered a new documentary spotlighting the Nigerian tech ecosystem. The documentary, titled “Innovating Africa: The Rise of

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Oman

Oman Housing Bank Taps Temenos to Drive Digital Transformation

4. April 2024

Oman Housing Bank (OHB), a primary financier of housing in Oman, has partnered with banking software company Temenos for upgrading its core banking systems to a cloud-based platform. This collaboration aims to expedite the development of new financial products and

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Outlook

Banking and Fintech Predictions for Middle East in 2021

20. January 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,

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Pakistan

Nayapay, Alipay+ Boost Global Payments Into Pakistan

25. January 2024

Pakistan’s financial platform, NayaPay, has partnered with Alipay+, managed by Ant International, aiming to enhance digital payment solutions and stimulate economic growth. NayaPay states that this collaboration will introduce QR codes compatible with RAAST and Alipay+ partners, enhancing foreign exchange

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Partner Content

Regulating Virtual Assets: Practical Implementation and Adoption

30. November 2021

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

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Payments

Oddle Uses Tap to Pay on Android, SUNMI to Provide Diners a Simple Payment Experience

8. March 2023

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

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Project Management

Navigating the Financial Frontier: A Deep Dive into Financial IT Services and Support

20. February 2024

Today’s rapidly evolving economic environment demands that technology play an ever-increasing role in supporting seamless transactions, mitigating risks and improving overall efficiency. In an era marked by digital transformation, over 65% of the population in the United States have adopted

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Qatar

QIB Launches Himyan Prepaid Card, a National Initiative by Qatar Central Bank

3. April 2024

Qatar Islamic Bank (QIB) introduced a new Prepaid Card “Himyan”, the first Qatari national prepaid card, to all existing customers, residents, and visitors of Qatar allowing secure payments within Qatar. The first Qatari national prepaid card is an initiative of

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Regtech

Here Are the Key Findings From OneSpan’s Global Financial Regulations Report

22. December 2021

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

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Report

Middle Eastern Banks Slow in Embracing Fintech Despite Customers Keenness

7. June 2020

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

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Saudi Arabia

bolttech Expands to Middle East Through Partnership with stc Group

12. March 2024

bolttech, an international insurtech company, has announced a partnership with stc Group, a key player in telecommunications and digital transformation in the Middle East. This partnership marks bolttech‘s expansion to several new markets, leveraging stc Group’s established presence in the

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South Africa

Middle Eastern and African Region Sees Neobanking Sector Picking up Steam

31. January 2024

Though still in their early stages of development compared to Europe and the US, neobanks are playing a growing role in the Middle East and Africa (MEA) region by addressing challenges in accessing traditional financial services. The Fintech Times identified

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Sponsored

Redefining Resilience for Banks in the Digital Era With the Four Zeros

21. March 2024

The banking industry stands at the brink of a major transformation, driven by rapid technological advancements and changing customer expectations in a dynamic digital landscape. This transformation is not without its challenges, as banks grapple with the critical task of

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Tanzania

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

31. March 2021

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

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Top Picks

Israel’s First Fully Digital Bank Starts Soon

16. April 2020

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

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Trading

The Central Bank of UAE Announces its Digital Currency Strategy

28. March 2024

In March 2023, the Central Bank of UAE (CBUAE) announced that it had begun its journey into the world of digital currencies. The project, which they coined the ‘Digital Dirham’, was to tackle the typical pain points of cross-border payments

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Turkey

State of Climate Tech VC Report: US$ 651 Million Invested into MENA and Türkiye Startups

8. November 2023

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

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Various

The Top 10 Fintechs in Middle East in 2024

8. April 2024

Forbes Middle East has unveiled its Fintech 50 ranking, recognizing the region’s leading players that are revolutionizing the fintech landscape in the underserved region, spanning digital payment companies, open banking platforms, investment, saving, and lending apps. The list was constructed

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Virtual Banking

CR2 Named Technology Leader in the Digital Banking Platform Market 2022

12. April 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

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Yemen

Fintech Fails to Emerge in Troubled Yemen

15. August 2018

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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