Arib has raised US$23.5 million in a funding round led by Merak Capital to expand its digital financing marketplace in Saudi Arabia. The round includes Sharia-compliant Murabaha financing facilities, highlighting the continued demand for Islamic fintech products across the Kingdom. Founded in 2018 by Omar Alhammad, Mohamed Dessouky and Waleed Talat, Arib operates a platform that connects users with banks and licensed lenders. The system allows customers to compare offers and apply for financing based on their specific borrowing requirements. The company will use the new capital to expand its technology infrastructure and accelerate product development. Arib also plans to…

Mastercard has launched its startup acceleration programme, Mastercard Lighthouse, in the UAE to connect local AI and fintech companies with global banks. The initiative, launched in partnership with the UAE’s Artificial Intelligence, Digital Economy and Remote Work Applications Office, will target early-stage companies building AI-driven financial tools. The inaugural UAE edition will specifically seek out startups working on agentic commerce, personalisation, risk management, and MSME credit provision. By facilitating pilot projects, Mastercard intends to help established financial institutions adopt and scale new technologies while providing startups a pathway to commercialisation. The Middle East and North Africa region currently hosts around…

The United Arab Emirates (UAE) has established itself as a leading fintech hub in the Middle East, driven by a strategic push to diversify its economy away from oil dependence and a regulatory environment that actively encourages innovation. The government’s “We the UAE 2031” strategy prioritizes growth in knowledge-based industries like technology, logistics, and tourism to lower reliance on hydrocarbon exports. Simultaneously, autonomous financial free zones such as the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM) operate under independent legal systems, providing regulatory sandboxes for fintech and crypto startups. Saudi Arabia is rapidly catching up,…

Mawarid Finance and Maghanim are launching a Shariah-compliant B2B virtual card and expense management platform to help UAE companies automate corporate travel spending. The integrated platform allows businesses to book travel, issue instant virtual cards, and automate their expense reporting through a single digital ecosystem. The companies designed the solution to replace manual reconciliation processes, reduce fraud risks, and improve financial oversight for corporate clients. This rollout introduces a digital-first payment infrastructure tailored specifically for B2B transactions. The system gives companies greater control over their travel budgets by unifying booking and payment data. “Through this partnership, Maghanim is delivering secure,…

Buy Now Pay Later (BNPL) providers are fundamentally altering the local digital payments sector as consumer preference shifts away from traditional credit. The UAE is experiencing rapid growth in this space, supported by a formalised regulatory environment. The Central Bank of the UAE (CBUAE) introduced a regulatory framework for the sector to address the increasing demand for short-term credit products. This framework requires providers to operate either as Restricted License Finance Companies or as official agents of licensed banks. This regulatory clarity has allowed platforms to secure funding rounds and forge strategic partnerships locally. From consumer retail to B2B lending,…

Cantor, a global investment bank under Cantor Fitzgerald, has received approval from the Financial Services Regulatory Authority (FSRA) of ADGM to carry out regulated financial activities in the centre. The FSRA issued the approval through a Financial Services Permission (FSP). The authorisation marks a step in Cantor’s expansion in the Middle East, following the opening of its Abu Dhabi office in December 2025. “Establishing our presence in Abu Dhabi reflects Cantor’s long-term commitment to strategically important markets that are increasingly shaping global capital flows,” said Sage Kelly, Co-Chief Executive Officer and Global Head of Investment Banking at Cantor. “The Middle…

Visa has launched the Visa Agentic Ready programme in Central Europe, the Middle East, and Africa (CEMEA), providing a controlled pathway for issuers to test agent-initiated transactions. The first phase focuses on issuer readiness, allowing financial institutions to evaluate how AI agents can complete transactions on behalf of consumers. The setup uses Visa’s foundational network capabilities, bringing together tokens, identity, risk, and controls into a production-grade testing environment. Dozens of regional banks and fintechs have enrolled in the initial testing phase. Some of the early issuing partners engaging in the programme include Abu Dhabi Commercial Bank, Emirates NBD, Mashreq, Tabby,…

Emirates Islamic has partnered with FC Barcelona to launch a co-branded credit card in the UAE, offering up to 4% cashback on everyday spending. The Emirates Islamic Barça Cashback Card will include fan-related benefits such as access to match tickets, discounts on official merchandise, and selected fan experiences. “This partnership allows us to offer our customers a unique combination of rewarding financial benefits and extraordinary sporting experiences,” said Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic. “For FC Barcelona, our fans are at the centre of everything we do. Thanks to the partnership with Emirates Islamic, we can…

Chinese digital payment provider Lianlian DigiTech has secured a payment services license from the Dubai Financial Services Authority (DFSA). The regulatory approval supports the company’s transition toward a licensed regional headquarters in the Dubai International Financial Centre (DIFC) to offer regulated payment and settlement services. The licensing marks a shift in the company’s Middle East strategy from initial market entry to establishing a licensed regional presence. Working alongside local banks, Lianlian will offer tailored payment services designed to facilitate seamless fund flows within the Middle East and across international markets. The company plans to refine its transaction framework to provide…

GoTyme Bank has launched a new ownership initiative that invites all 2000 global employees to become company shareholders. This broad share scheme aims to deepen staff participation in the long-term financial success of the company. The programme arrives as the financial technology firm prepares for a potential stock market listing within three to four years. Chief Executive Officer, Cheslyn Jacobs, stated that the initiative encourages the workforce to behave like true business owners. Jacobs noted that the enterprise currently remains in a hyper-growth phase, and the share scheme could make a meaningful difference to employees. Management commenced internal education sessions…

du has launched a sovereign Huawei cloud platform, targeting Chinese enterprises and small businesses expanding into the Middle East. The National Hypercloud – Huawei Edition delivers local data hosting and ensures alignment with UAE regulatory compliance standards. The platform acts as a single integrated partner for companies entering the market, removing the need to coordinate multiple service providers. “We have created a sovereign, scalable cloud environment that addresses the core priorities of Chinese enterprises,” said Jasim Alawadi, Chief ICT Officer at du. He added that the platform focuses on local data hosting to ensure compliance with UAE regulations, alongside seamless…

Mashreq has introduced a one-day account opening guarantee for business customers in the UAE, offering a cash penalty if the timeline is missed. The service is available through NEO BIZ, the bank’s digital business platform. Mashreq says it is the first bank in the country to guarantee a 24-hour turnaround for business onboarding. If eligible customers do not have their accounts activated within a day, the bank will provide AED 1,000 in cashback. To speed up the process, Mashreq uses artificial intelligence workflows, electronic KYC, and direct integration with local authorities. This automated routing system reduces manual processing and allows…

ADGM recorded a 57% increase in assets under management in the first quarter of 2026, reflecting growing demand from global and regional asset management firms establishing operations in Abu Dhabi. The financial centre reported that asset managers setting up in ADGM during the quarter represent over US$4.4 trillion in global assets. The total number of funds managed out of the jurisdiction reached 263, marking a 43% increase from the same period last year. ADGM saw total active licenses reach 13,353, with 961 new licenses issued in the first three months of the year. The number of operational entities grew by…

Mal has received in-principle approval from the Central Bank of the UAE (CBUAE) to establish an AI-native Islamic digital bank, according to Arabian Business. The Abu Dhabi-based startup plans to launch a fully licensed Shariah-compliant platform spanning digital banking, payments, wealth management, and embedded finance. The regulatory clearance follows a US$230 million seed funding round earlier this year, positioning Mal as one of the region’s most well-capitalised new banking entrants in the Gulf digital banking sector. The approval aligns with the UAE’s broader push to attract fintech firms and strengthen its position as a global hub for digital finance innovation.…

Deem Finance and Yusr have signed a partnership agreement to launch embedded financial services in the UAE, starting with BNPL options for the automotive sector. Yusr, a regulated fintech originally from Kazakhstan, provides the technology and customer interface for the embedded finance products. Deem Finance will supply the underlying regulated financial infrastructure and governance framework required to operate in the UAE market. The collaboration aims to help fintech platforms scale while maintaining compliance and customer protection standards. Yusr plans to expand its embedded finance products into other sectors of the UAE economy over time. “This partnership reflects our belief that…

Dubai Taxi Company (DTC) and Bolt are launching digital ride-hailing services in Abu Dhabi, marking the next stage of their UAE platform expansion following strong growth in app-based bookings. The rollout will begin with limousine services, allowing users to book premium rides through the Bolt app. Taxi services will follow in the coming weeks, integrating multiple fleet operators into a unified digital booking system. The move into the capital follows a sustained increase in digital mobility adoption across the UAE. In 2025, DTC recorded a 24% year-on-year increase in e-hailing activity across its fleet, driven by a shift toward digital…

Valu has partnered with automotive retail site ElTawkeel.com to launch a digital car platform that embeds auto financing directly into the vehicle purchasing process. Operated through Valu Shift, the company’s specialised auto finance arm, the integration allows buyers to browse new cars, secure insurance, and receive loan pre-approvals within an hour. All services are accessible through a single e-commerce portal. The partnership targets the friction typically associated with vehicle purchases in Egypt. Instead of navigating separate processes for dealership sales and bank loans, customers can compare vehicles and view transparent pricing while their credit is processed in the background. “By…

du Pay has appointed 25-year banking veteran Roberto Mancone to spearhead its expansion beyond payments into lending and insurance. The appointment of new du Pay CEO Roberto Mancone comes as the fintech arm of telecom operator du transitions from its initial scale-up phase. Operating under the regulatory framework of the Central Bank of the UAE (CBUAE), du Pay currently provides zero-balance digital wallets, peer-to-peer transfers, and international remittances to more than 200 countries. “We are excited to welcome Roberto Mancone to the du Pay team as we enter the next chapter of our fintech journey,” said Fahad Al Hassawi, Chairman,…

Saudi Arabia’s fintech industry continued to grow in 2025, reaching 301 operating players at the end of the year, according to new research by Fintech Saudi, an initiative by the Saudi Central Bank (SAMA) to develop and support the country’s fintech ecosystem. The figure represents a 30x increase in seven years from just 10 in 2028, and a 15% year-over-year (YoY) rise from 261 last year, underscoring increased adoption of digital financial services among both individuals and businesses, and progress towards the objectives by Saudi Arabia’s Vision 2030 plan. The data were shared in a LinkedIn post by Sagar R…

RAKBANK and Emirates Growth Fund (EGF) have partnered to explore opportunities for expanding SME financing and advisory support in the UAE, signing a strategic agreement at the Make It in the Emirates forum. The collaboration aims to strengthen the regional SME sector by focusing on funding access, market intelligence sharing, and growth-enablement programmes. The two entities will also look into joint ecosystem-driven initiatives and customer engagement programmes. “Supporting SMEs has always been central to our identity and remains one of the most important ways we contribute to the UAE’s economy,” said Raheel Ahmed, Group CEO of RAKBANK. “Our collaboration with…