Citi has appointed Rajeev Garg as the new Head of Wealth for Citibank UAE, effective from 18 June 2026. Garg will manage the strategic development and performance of the bank’s local wealth vertical, which includes Citigold, Citigold Private Client, and credit cards. His role focuses on executing strategic priorities and upgrading the local risk and control framework to meet global standards and regional regulatory requirements. The private banking segment will remain under the supervision of Mohannad Sleiman. In his new capacity, Garg reports directly to Yeo Wenxian, Head of Asia South Wealth. He also has a reporting line to Shamsa…

CoinMENA FZE has partnered with Standard Chartered to strengthen its fiat payment infrastructure, offering faster funding and more efficient settlements for its regional customer base. The partnership focuses on customer money account services and fiat payment infrastructure within the UAE digital asset market. Under the agreement, the Virtual Asset Regulatory Authority (VARA) licensed broker-dealer will utilise the banking capabilities of Standard Chartered to facilitate fiat on- and off-ramp flows. The solution integrates safeguarded client money accounts with high-speed settlement rails and virtual account-based transaction management. CoinMENA FZE will use the setup to improve operational scalability, support liquidity settlement with approved…

SAB Invest, the investment arm of Saudi Awwal Bank, has launched a securities lending service for its clients and appointed JPMorganChase as its agent for the domestic equity business. The mandate forms part of the firm’s strategy to expand the platform to include global assets. It marks its development as a full-service capital markets participant. The capability is designed to allow clients to generate returns from their existing equity holdings. It also enables access to yield-generating opportunities across international markets. Institutional equity expansion SAB Invest selected JPMorganChase due to its local market experience, international capabilities, risk management framework, and technology…

Revolut has secured its Stored Value Facilities (SVF) license and Retail Payment Services (Category II) license from the Central Bank of the UAE (CBUAE). The regulatory approval follows an in-principle approval granted to the global fintech platform in September 2025. This successful completion of the Revolut UAE license process allows the company to advance its expansion strategy across the Middle East. Since receiving initial approval last year, the company has expanded its local workforce and established the operational infrastructure required to support long-term operations in the country. “The UAE’s position as a global hub for financial services innovation is built…

Huawei Cloud has signed a MoU with Thndr, an Egyptian digital investment platform, to expand the use of cloud computing and AI in financial services. The agreement was finalised at the Huawei Cloud Fintech Summit 2026. The partnership focuses on driving technological innovation by enhancing operational efficiency and deploying secure infrastructure. Huawei Cloud provides integrated infrastructure combining computing, storage, and networking capabilities to support scalability for financial institutions. The company also offers a dedicated financial-grade artificial intelligence platform to support automated models and services. “Today, we are building on that momentum through our partnership with Thndr, as we work together…

UAE telecom provider du has launched du Launchpad, an AI-powered platform designed to help SMEs manage accounting, payroll, and corporate tax filing. Software company Peko partnered with du to develop the service, which operates under the telecom provider’s business portfolio. It integrates various administrative and financial tools to help businesses reduce manual work and meet government regulations. Core features of the platform include accounting solutions, human resources management systems, and corporate tax filing capabilities. The system also offers professional invoicing tools and integration with WhatsApp Business. To support cost optimisation, du provides a premium bundle that gives subscribers access to…

Spend management platform Alaan is launching an embedded business banking account for UAE companies in partnership with ruya. The product integrates digital banking capabilities directly into the Alaan platform, allowing businesses to manage corporate cards, supplier payments, invoice automation, and accounting in a single workflow. This launch follows a recent initiative where the company committed AED 3 million to support local businesses by covering their utility and telecommunications bills. The new account aims to centralise financial operations for companies increasingly adopting digital and embedded finance solutions. Automating B2B payments and invoices The embedded account enables users to process local transfers…

The Central Bank of the UAE (CBUAE) has signed a MoU with the Central Bank of the Republic of Kosovo to strengthen bilateral relations and facilitate the exchange of information and expertise. Under the terms of the partnership, both central banks will enhance coordination across supervisory and regulatory sectors. The collaboration will focus on financial technology development, monetary policy, macroprudential measures, and financial stability. The scope of the agreement covers several priority areas within the financial sector. These include financial consumer protection, financial inclusion, financial literacy, banking supervision, and the oversight of payment systems. Additionally, the two regulatory bodies will…

Direct Debit System (DDS) has partnered with HSBC Bank Middle East to expand access to the UAE Direct Debit System. The collaboration enables the bank’s corporate clients across the country to digitise their recurring payment collections and receivables. The agreement provides businesses with access to the end-to-end infrastructure of DDS, which operates as a non-bank paperless direct debit platform in the UAE. This allows corporate entities to onboard payers remotely and automate payment workflows. It also eliminates the need for physical cheques or manual follow-ups. Through a single e-mandate, the platform supports digital mandate creation and automated electronic collections. Businesses…

Flutterwave has secured a strategic investment from Ripple as part of its Series E fundraising round, which values the African payments company at US$3.2 billion. The deal aims to reduce the settlement delays typically associated with cross-border transfers in Africa by integrating Ripple’s US dollar-pegged stablecoin, RLUSD, into Flutterwave’s existing infrastructure. The partnership involves three main technical integrations. Flutterwave will embed RLUSD as a primary settlement asset for high-volume transactions across its payment rails and its Send App remittance corridors. The company will also leverage the XRP Ledger for faster clearing. It will deploy a unified API to bridge its…

Franklin Templeton has secured operating licenses from the UAE Capital Market Authority (CMA) for its new entity in Abu Dhabi. The approval allows the firm to operate onshore in the capital. This addition means Franklin Templeton now holds a presence across all three financial jurisdictions in the UAE, alongside its existing operations in the ADGM and the Dubai International Financial Centre (DIFC). The new entity will focus on expanding the firm’s investment services for local clients. Key areas of development include retirement savings products and end-of-service solutions tailored to the UAE market. According to the company, it is the first…

Redpin, a global property payments platform backed by Blackstone in a US$170 million investment round, has secured in-principle approval from the Dubai Financial Services Authority (DFSA). The regulatory milestone enables the company to progress toward offering property payment services to the real estate developer ecosystem in the UAE. This expansion directly aligns with the Dubai Land Department target of increasing real estate transaction volumes by 70% by 2033. Launching the Redpin Platform The clearance supports the rollout of the Redpin Platform, a new payment infrastructure built specifically for property developers. The system digitises traditionally manual property payment processes to deliver…

Huawei Cloud is strengthening its presence in Egypt’s financial technology sector through locally hosted infrastructure designed to support digital transformation The company outlined its growth strategy at a recent summit focused on secure digital infrastructure and data intelligence. Following the launch of its Egypt public cloud region in 2024, the company is responding to growing demand for scalable, secure, and locally hosted cloud infrastructure. This approach keeps sensitive financial data within national borders to satisfy long-term data sovereignty requirements. Jo Xu, CEO of Huawei Cloud Egypt, stated that the company aims to be a trusted technology partner for local financial…

MTN Group Fintech has partnered with Ant International to digitalise and expand its mobile money ecosystem, starting with a product rollout in Nigeria next quarter. The collaboration will introduce a super-app platform designed to integrate commerce, lifestyle, and financial services around the MTN MoMo wallet interface. By adopting technology from Ant International, MTN Group Fintech aims to enhance its ecosystem integration through a mini-app framework, improve fraud prevention, and introduce new engagement features for both consumers and merchants. “This partnership aligns with MTN Group’s ambition of leading digital solutions for Africa’s progress by leveraging scale, technology and strong global partnerships,”…

The Central Bank of the UAE (CBUAE) has signed an agreement with the World Bank Group to collaborate on financial inclusion, financial literacy, and consumer protection initiatives across the country. The partnership will focus on digital fraud prevention principles and enhancing dispute resolution mechanisms for the banking and insurance sectors. The two organisations are also preparing to host the second edition of the Regional Summit on Financial Health and Inclusion, scheduled to take place in Abu Dhabi in September 2026. “This agreement reflects the CBUAE’s commitment to advancing financial inclusion and financial literacy, and enhancing consumer protection as key pillars…

Habib Metropolitan Bank (HABIBMETRO) has selected BPC’s SmartVista platform to enhance its card issuing capabilities and improve transaction processing. This technology migration supports the bank’s digital transformation strategy to build a scalable foundation for digital services growth. The transition aligns with the State Bank of Pakistan Vision 2028 initiative, which aims to modernise the national financial system and promote digital inclusion. Expanding card products and scheme compliance Through this deployment, HABIBMETRO will offer a broader suite of financial products, including physical debit cards and virtual cards. The bank will also update its automated teller machine (ATM) and branch point of…

Bank of Singapore is appointing Lim Leong Guan to lead its private banking business in the Middle East and South Asia. The move is part of the bank’s strategy to increase its global ultra-high-net-worth assets under management by 30% by 2028. Lim will take on the role of Head of Private Banking for the Middle East, South Asia and International on 1 July 2026. He will be based in Dubai and will also serve as Chief Executive of the Dubai International Financial Centre (DIFC) branch, subject to regulatory approval. The appointment follows a Capgemini Research Institute report indicating that the…

Yuno has partnered with Onafriq to grant international merchants access to payment networks across Africa. The integration connects Yuno clients to 43 African markets through a single API. The partnership enables merchants to access nearly 1 billion mobile wallets, 500 million bank accounts, and 2,000 cross-border payment corridors. For businesses looking to scale into Africa, the collaboration addresses the difficulties of connecting to fragmented local payment rails. Expanding the Yuno payment network The infrastructure supports the entire payment lifecycle, offering capabilities such as real-time disbursements, omnichannel collections, card issuance, treasury management, and stablecoin settlement. Transactions are backed by local regulatory…

Blue Owl Capital has opened a new office in the ADGM, establishing its regional headquarters in the UAE. The alternative asset manager is expanding its physical footprint to deepen ties with Middle Eastern institutional investors. The new base will house members of the firm’s institutional capital and general partner stakes teams. “Over the last decade, the Middle East has emerged as both a strategic global market and a sophisticated investor across asset classes, particularly alternatives,” said Haitham Abdulkarim, Managing Director and Senior Executive Officer of the Abu Dhabi office at Blue Owl Capital. The move marks the seventh office for…

Global Islamic finance assets crossed US$5.98 trillion in 2024, growing 21% year-on-year, according to the ICD-LSEG Islamic Finance Development Report 2025. But the digital infrastructure underpinning the world’s fastest-expanding faith-based financial system is straining to keep up, and nowhere is that gap more visible than in the GCC. The region holds roughly half of all global Islamic finance assets, and the UAE alone is targeting AED 2.56 trillion in Islamic banking assets by 2031. Customers here rank among the world’s most digitally sophisticated: only one in six purchases in the UAE is now made in cash, and Dubai’s cashless strategy…