EC Markets, a global leader in CFD trading, is set to make an important contribution at the upcoming iFX EXPO Dubai 2025, having been confirmed as the Elite Sponsor of the preeminent online trading event in the Middle East and North Africa (MENA) region. The award-winning broker will have a strong visible presence, being front and centre at the highly anticipated showpiece event, which will take place at the prestigious Dubai World Trade Centre from 14th to 16th January. This official sponsorship underscores the firm’s strong commitment to continuous innovation and growth, with a particular focus on delivering optimised trading…
Author: Company Announcement
Abu Dhabi Finance Week (ADFW) – has announced that ADQ, an Abu Dhabi-based investment and holding company, will be the “Headline Partner” for the 2024 and 2025 editions of ADFW. This strategic partnership with ADQ underscores its dedication and commitment to the growth of Abu Dhabi’s financial sector, emphasizing its role in driving innovation and market-leading services. As the “Headline Partner” for the next two editions, ADQ will be instrumental in curating the direction and agenda of ADFW, ensuring the event’s continued success and cementing its position as a leading economic and investment conference. In addition, ADFW 2024 will be…
Wio Bank PJSC, the region’s first platform bank, is introducing a new embedded finance service designed especially for the UAE’s small and medium-sized enterprises (SMEs). This initiative includes strategic partnerships with leading accounting software platforms Zoho Books, Fiskl and Wafeq, aiming to embed banking services into daily business operations and simplify financial management. Wio Business, the bank’s first digital banking application, caters to micro, small, and medium enterprises (MSMEs), as well as freelancers and entrepreneurs. By directly integrating with accounting and financial management systems through APIs, Wio Business facilitates seamless financial workflows, enhancing management and eliminating the need for third-party…
FinaMaze announced its new technology hub, FinaMaze Technologies, based in the Dubai International Financial Centre (DIFC). This move represents a strategic pivot toward a business-to-business (B2B) and a business-to-business-to-consumer (B2B2C) model, focusing on delivering its advanced technology solution, on a white-label basis, to the banking and the asset management industry. Finamaze leads the way in the region for the global trend where B2C fintech companies with successful, proven intellectual property and solutions are shifting to a B2B business model and forming partnerships with established industry players. Launched in 2020 as a B2C business licensed by the Abu Dhabi Global Market…
Snowdrop Solutions, a provider of advanced transaction enrichment solutions, has announced a collaboration with PwC Middle East to bring its innovative Transaction Enrichment API to banks and payment providers in the region. This collaboration marks a significant step forward for the Middle East, offering banks and payment providers a unique opportunity to leverage Snowdrop’s technology, trusted by major financial institutions across Europe and Asia Pacific together with PwC’s extensive expertise, to deliver exceptional customer experiences and drive operational efficiencies. By integrating Snowdrop’s transaction enrichment API called MRS, financial institutions can quickly empower their customers with clarity around each purchase -…
A Memorandum of Understanding (MOU) has been signed between Bahrain FinTech Bay (BFB) and the Qatar Financial Center Authority (QFCA), ushering in a new era of collaboration in the fintech sector across the region. T This agreement establishes a comprehensive framework for cooperation aimed at supporting the growth and development of startup networks and facilitating knowledge exchange between the two parties. The MOU between BFB and QFCA signifies a mutual commitment to provide support for startups exploring business opportunities within each other’s territories. Key aspects of the agreement include the provision of co-working space access in Bahrain and Qatar for…
Qatar Investment Authority (QIA) is set to launch Qatar’s first venture capital (VC) Fund of Funds, a strategic investment program to foster innovation in Qatar. The Fund of Funds program will invest more than USD 1 billion in international and regional venture capital funds. The program will have two key objectives. It will generate market-level commercial returns in line with QIA’s mandate to secure sustainable, long-term returns to the people of Qatar. At the same time, it will support the sustainable development of a vibrant VC and start-up ecosystem in line with Qatar’s National Development Strategy (NDS3), which seeks to…
Dubai International Financial Centre announced an series of finance events and activities spanning 20 days, in celebration of the Centre’s 20th Anniversary. From 29 April to 29 May, participants will have the opportunity to engage in a diverse range of events, seminars, workshops, networking sessions, and special celebrations. DIFC’s 20 Days of Finance series promises to bring together industry leaders, policymakers, investors and entrepreneurs to commemorate DIFC’s two decades of excellence in the global financial landscape. The 20-day calendar of activities will kick-start with the Dubai World Insurance Congress, 29-30 April at Atlantis, The Palm; the 2nd edition of the Dubai FinTech…
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 also exploring other markets, such as Asian and Australian markets. It is also heavily influenced by the UK’s unique political dynamics and its own high volatility and liquidity. All these factors mean traders must adapt and use strategies that align well with this unique market. Managing Risk and Reward Ratios Day trading is common in the UK forex market. All…
Finshape, a leading fintech solutions provider, is excited to announce a strategic collaboration with Arab National Bank (anb), a major bank in Saudi Arabia. This collaboration aims to deliver customized banking experiences that cater to the unique needs of their customers. Finshape will use its advanced technology personalisation and data analytics platform to enhance anb’s banking services, ensuring they meet the diverse requirements of their clients. The implementable solution includes Finshape’s newest, the Money Stories format, which showcases categorized spendings and forecasts that help the customer stay ahead of their finances meanwhile, the bank will be able to communicate relevant…
Building upon the successes of MENA’s biggest Fintech Festival presented by Abu Dhabi Global Market (ADGM), the 7th edition of Fintech Abu Dhabi welcomed an impressive turnout of financial tech leaders and visionaries converging from across the globe . This included those leading innovation in major financial institutions, startups, innovators, entrepreneurs, venture capitalists, scientists and academics, solidifying Abu Dhabi’s position as a forward-thinking innovation and tech hub. ADGM’s flagship event, Fintech Abu Dhabi, conducted in partnership with Huawei continued to be a highlight of Abu Dhabi Finance Week (ADFW) this year, focusing on the central theme of the event –…
Foreign businesses registered in the United Arab Emirates (UAE) have long enjoyed a beneficial business environment, including virtually no taxes, 100% foreign ownership, and full repatriation of company profits and capital. The UAE remains a strong location for business, but a new corporate tax law is causing some businesses to consider relocating to more favorable shores. On December 9th, 2022, the Ministry of Finance of the UAE released the introduction of a federal Corporate Tax of 9% on business profits. Here’s what the new law could mean for your business, and why relocating to the AZUR Special Economic Zone (SEZ)…
Provenir, a data and AI-powered risk decisioning software, announced that Quick Finans, a consumer finance company located in Turkey, has selected Provenir’s AI-Powered Data and Decisioning Platform to quickly approve and onboard new customers. Quick Finans, a wholly owned subsidiary of Quick Insurance, which is under the umbrella of Maher Holding, offers solutions for consumer finance loans (GPL), auto financing, mortgages, agricultural financing, and small business lending. They were looking for a low/no code platform that could be deployed quickly, modified in real-time and scale as the company expands its offerings. “After evaluating several options, we determined that Provenir best…
Mastercard brings Apple Pay to its cardholders in Kuwait Customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, restaurants, coffee shops, online stores, and all other outlets where contactless Mastercard payments are accepted. Erdem Çakar, Country Manager, Kuwait and Qatar, Mastercard, commented: “We are delighted to bring all the benefits of Apple Pay to the people Kuwait,…
Crypto.com announced last weekt that it has received provisional approval of its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA), allowing Crypto.com to offer a full suite of crypto exchange products and services. The operating license under this specialised programme is set to be issued as soon as the firm qualifies for all mandated requirements in the near-term. Established in March 2022, VARA oversees the issuing, trading and authorizing of virtual assets in Dubai, regulates cryptocurrency exchanges and service providers, and monitors transactions to ensure the highest standards of consumer protection. The Provisional License was granted…
Qatar is gearing up to host InsurHack MENA, the first insurtech hackathon in the MENA region that is scheduled to take place virtually on the 5th and 6th of June, giving the flexibility for participants to join from any part of the world. The hackathon is organised by Qatar Insurance Group (QIC Group), together with Deloitte, Google Cloud, and QIC Digital Venture Partner (QIC DVP). Other partners of the hackathon include insurtech venture capital Anthemis, personal data platform in Silicon Valley Prifina and the Qatar Financial Centre (QFC). InsurHack MENA calls upon teams and startups across pre-seed, seed and Series…
zenda, MENA’s first fintech app for families has announced it has secured a $9.4m oversubscribed seed round. zenda currently addresses pain points around the payment of school fees – in particular, the lack of convenience and flexibility in payment options for parents and the poor collection of payments for schools. zenda was founded in June 2021 by Raman Thiagarajan and Haseeb Ahmed, alumni of McKinsey & Company, where Raman led the Firm’s Financial Services Practice in the MENA region. zenda is the founders’ second startup, and leverages deep insights and knowledge from their successful previous ed-tech venture. With approximately US$37B…
KMMRCE Holdings, a leading digital specialist combining flexible cloud management solutions with comprehensive finance capabilities, has announced the opening of its headquarters in Dubai International Financial Centre (DIFC). Its portfolio companies, KMMRCE Technology and KMMRCE Pay, have built a reputation for delivering flexible platforms, which integrates FinTechs and create a seamless online retail and payment experience. KMMRCE Technology is a homegrown software-as-a-service (SaaS) company that has grown in the past ten years through long-standing digital, e-commerce, and FinTech partnerships. During the past decade, it has evolved from being a developer into a branded technology services provider, offering clients complete e-commerce…
Mashreq Ban has completed the transition of its existing payments business into a new, wholly owned subsidiary, IDFAA Payment Services LLC, with a brand name NEOPAY, powered by Mashreq. NEOPAY, powered by Mashreq Bank, will leverage the latest technology and innovation, including card processing and merchant acquiring systems, processing switches and PoS inventory to offer a seamless payments experience to merchants and consumers. It builds on the successes of Mashreq’s existing merchant acquiring business, which processes USD22 billion of annual volume across the retail, government, hospitality and eCommerce sectors. NEOPAY will consolidate all existing payment systems into a single platform.…
Egypt’s largest national banks – Banque Misr, National Bank of Egypt, and Banque du Caire – and Global Ventures, a leading MEA-focused venture capital firm – announce the launch of Nclude by Global Ventures, following approval by the Central Bank of Egypt (CBE). This bold and unprecedented step is an implementation of the country’s strategic vision to support young innovators who will build the Egyptian Economy of the future, Nclude by Global Ventures will focus on accelerating Fintech Innovation and driving Financial Inclusion. The initial amount equivalent to $85 million investment in the Fund is led by Banque Misr as…