Flutterwave has secured a Nigerian banking license, allowing it to hold customer funds and deposits directly. The move strengthens its financial infrastructure in its largest market and enables more direct control over settlement and payment flows for consumers and businesses. Payments companies have traditionally relied on partnerships with commercial banks to access national clearing systems. This model, while common, can limit operational flexibility and require revenue sharing. With the license, Flutterwave can manage parts of its financial value chain internally, which may improve efficiency and support faster product development. Nigeria is one of Africa’s largest digital payments markets, with significant…

Dubai has launched driverless taxis, initially serving Umm Suqeim and Jumeirah. Passengers can book free rides through the Apollo Go app for a limited period, or choose the ‘Autonomous’ option on the Uber app, with fares ranging from Dhs63 to Dhs80. The Dubai Taxi Company, in partnership with Chinese firm Baidu, which operates Apollo Go, has deployed fully autonomous vehicles. Some trips may include a safety specialist, but vehicles operate without a driver, using artificial intelligence, advanced sensing systems, and real-time decision-making technologies. Following trials with Uber and WeRide since April 2025, 100 autonomous taxis are currently part of Dubai’s…

Paymentology has partnered with Bank Zero to support access to digital banking in South Africa. As Bank Zero’s first alliance partner, Paymentology provides the infrastructure needed for organisations to participate more easily in financial services. Bank Zero is a branchless, app-driven bank focused on digital banking solutions, while Paymentology brings over 20 years of card processing experience in Africa. The collaboration combines local market insight with scalable payments infrastructure and operational expertise to meet South Africa’s regulatory and data residency requirements. The partnership allows fintechs, retailers, SMEs and digital platforms to offer tailored financial products through flexible Mastercard card issuing,…

Qashio has launched “Qashio For You”, a programme aimed at supporting SMEs across the Emirate. Dubai Chambers is collaborating on the initiative, which will run until the end of June 2026 and provide over AED 10 million in financial relief and welcome benefits to eligible businesses. SMEs account for more than 95% of companies in the UAE and contribute significantly to employment and GDP. “Qashio For You” helps SMEs manage operational and financial pressures by giving them access to Qashio’s platform without set-up fees, allowing deferred payments, and awarding points that businesses can redeem for Emirates Skywards Miles, Jumeirah ONE…

Snowflake has appointed Michel Nader as General Manager for the Middle East, Turkey and Africa (META). In this role, Nader will lead the company’s regional strategy and operations, supporting customer growth and the adoption of Snowflake’s AI Data Cloud. Nader brings over 25 years of experience in enterprise technology leadership across META and Eastern Europe, with expertise in data platforms, security, and large-scale go-to-market execution. He was most recently Senior Regional Director at Dell Technologies, overseeing cyber resiliency, data protection, and recovery across Central and Eastern Europe and META. His career also includes senior roles at EMC and Hewlett Packard…

First Abu Dhabi Bank (FAB) recently hosted a virtual AI Agentathon in collaboration with Presight, with support from Microsoft. The event brought together internal and external participants to develop AI-based solutions for real business challenges across the bank. The Agentathon was part of FAB’s strategy to expand the use of artificial intelligence and integrate advanced technologies into its operations. The one-day innovation sprint involved business stakeholders, technical experts, and global technology partners working to address predefined business challenges. A joint evaluation panel, including representatives from all participating organisations, assessed the final outputs. Four cross-functional teams, composed of FAB business and…

The Qatar Central Bank (QCB) has conducted a review of recent geopolitical developments and their potential impact on the domestic financial system. The review confirmed that Qatar’s financial system remains robust, with strong liquidity, capital levels well above regulatory requirements, and adequate provisioning to cover credit risk. According to QNA, the review highlighted that banks continue to maintain substantial liquidity in both domestic and foreign currencies. Resources are sufficient to meet customer demand, support normal market activity, and manage any short-term funding pressures under stressed conditions. The report noted that the structural strengths of Qatar’s banking sector, demonstrated during previous…

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, has approved AED 1 billion in economic facilitation measures to support businesses and enhance market resilience. Implementation will begin on April 1 2026 for 3 to 6 months. Chairing a meeting of Dubai’s Executive Council, Sheikh Hamdan said the package “aims to strengthen the emirate’s economic flexibility, raise readiness levels and ensure a swift response to current requirements.” He added: “Under the visionary leadership of His Highness Sheikh Mohamed bin Zayed and His Highness Sheikh Mohammed bin Rashid,…

The Saudi Central Bank (SAMA) has granted its first Major Payment Institution license for open banking services to Lean Technologies. The MENA payments infrastructure firm was previously part of SAMA’s Regulatory Sandbox, signalling a transition from open banking trials to real-world deployment. According to Finextra, during the sandbox phase, Lean Technologies partnered with regional fintechs including Tabby, Tamasa, and Abdul Latif Jameel. The company’s objectives align with Saudi Arabia’s Vision 2030 plans to expand open banking infrastructure. CEO of Lean Technologies, Hisham Al-Falih, said: “With this license, we have the platform, the partnerships, and the regulatory standing to extend the…

Muzinich & Co., a privately owned global corporate credit specialist based in New York, has opened an office in the ADGM. The office will be led by Filomena Cocco, Managing Director, Global Business Development. Muzinich has operated in the region for several years, building relationships across the Gulf Cooperation Council. The new office formalises its presence and allows the firm to work alongside local partners and engage with the region’s financial ecosystem. Filomena Cocco said: “We have been consistently impressed by the vision and entrepreneurial spirit of investors in the region. There is a strong willingness to think ahead and…

The Saudi Central Bank (SAMA) has announced the launch of licensing for fintech companies to offer open banking services, following the successful completion of the regulatory sandbox phase under its supervision. This move reflects SAMA’s ongoing efforts to support the financial sector, improve the efficiency and flexibility of financial transactions, and encourage innovation in financial services. It also aims to advance financial inclusion and broaden access to financial services across all segments of society. Open banking is an emerging concept in the financial sector that allows customers to securely share their financial data with SAMA-regulated entities offering new and innovative…

RAKBANK and Network International (Network) have completed their strategic partnership, first announced on 28 November 2025, following all necessary approvals from the Central Bank of the UAE (CBUAE). Under the partnership, Network will provide payment solutions to RAKBANK’s customers across SMEs and large corporates, supporting the bank’s position within the region’s payments and fintech landscape. Network will also deliver a range of value-added services aimed at supporting SMEs and aligning with the UAE’s Digital Economy Strategy. Network and RAKBANK will meet growing merchant demand for digital commerce solutions in Ras Al Khaimah through the arrangement. RAKBANK and Network International will…

Fuze has partnered with Miden, a blockchain company backed by a16z and other investors, to support the development of regulated digital asset use cases. The collaboration combines Fuze’s network of banks, fintechs and enterprises with Miden’s privacy-focused blockchain infrastructure. It will focus on applications across payments, remittances and wealth services. The agreement addresses a key barrier to institutional adoption of digital assets: the transparency of public blockchains. Transactions on these networks can be viewed and analysed openly. The MoU aims to enable privacy-preserving infrastructure. This would protect customer data and commercially sensitive information. At the same time, it allows regulatory…

Afreximbank has launched the first cohort of its “Afreximbank Accelerator Programme,” bringing together eight startups from across Africa and the diaspora for a kick-off week in Cairo from 23 March 2026 to 27 March 2026. Selected from over 1,600 applications, the cohort includes ventures developing digital infrastructure for intra-African trade in sectors such as cross-border payments, digital logistics, agri-export platforms, AI enterprise solutions, supply chain finance and diaspora investment. The participating startups are: Fincart.io (Egypt) A digital logistics platform that streamlines e-commerce operations by connecting merchants with a vast network of couriers and providing flexible shipping finance. OnePort 365 (Nigeria,…

Blackstone has invested US$250 million in Advanced Digital Gaming Technology (ADGT), a payments and data intelligence platform launched from the UAE to support regulated digital markets. Blackstone, Raya Holding, an Abu Dhabi-based investment firm, and technology partners NRT Technology and Sightline Payments established ADGT through a partnership. Headquartered in Abu Dhabi, the platform will initially focus on deployments in the UAE, the Middle East, Africa, and selected international markets. In the UAE, ADGT holds a license to provide payments and compliance technology to the commercial gaming sector and can contract directly with both land-based venues and online platforms. Michael Dominelli,…

Emaar Development held its Annual General Meeting (AGM), where the Board of Directors reviewed its 2025 financial performance and outlined its strategic outlook. Shareholders approved a dividend of AED 4 billion (US$1.1 billion), equivalent to 100% of share capital. The Board’s report on the company’s activities and financial position, along with the auditor’s report, was also approved. The company reported property sales of AED 71.1 billion (US$19.4 billion) in 2025, up 9% year-on-year. Its revenue backlog increased to AED 125.2 billion (US$34.1 billion), providing visibility on future revenue. Total revenue rose 44% to AED 27.5 billion (US$7.5 billion), while EBITDA…

Fintech platform Vault22 has launched in the UAE, introducing an AI-powered wealth management application designed to help users budget, save and invest through a single interface. The platform aggregates users’ bank accounts, investments, liabilities and financial goals into one dashboard, allowing them to better assess their financial position and make more informed long-term decisions. The launch reflects rising demand for tools that support individuals managing multiple banks, currencies and investment accounts, which can make it difficult to maintain a clear financial overview. Vault22 consolidates financial data across institutions and applies artificial intelligence to generate personalised insights and recommendations. Its AI…

GoTyme Bank and BPC, a global provider of payment solutions, are marking a decade-long partnership that has supported the bank from its inception to its current customer base of over 12 million in South Africa. BPC has provided technology and operational support, including its SmartVista platform, enabling GoTyme Bank to launch quickly and issue debit cards instantly. The partnership also included support with regulatory compliance, international scheme certification, card manufacturing, transaction design, and operational readiness. SmartVista’s modular platform and open APIs have allowed the bank to roll out features rapidly while keeping costs low. GoTyme Bank combines digital banking with…

Resilience in the financial services industry has transcended beyond the technological capability to restore services after a disruption, evolving into a strict compliance requirement and a strategic imperative. This shift requires institutions to adopt a holistic and proactive approach that integrates robust cybersecurity measures, comprehensive risk management frameworks, and continuous monitoring capabilities, according to a new report by cybersecurity firm Fortinet. A primary driver of this urgency is the rise of AI-generated deepfakes. These sophisticated AI generation tools allow criminals to deceive victims by creating realistic synthetic video and audio. They have proliferated over the past years, with fraud operations…

The Board of the Central Bank of the UAE (CBUAE), chaired by Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister, held its second meeting of the year today. It noted that the UAE’s financial system has remained resilient despite extraordinary global and regional market conditions, with no material impact on the health of the banking sector or payment systems. The Board approved a Financial Institution Resilience Package to strengthen the stability and resilience of the UAE banking sector. The package allows banks greater access to liquidity and flexibility to utilise capital buffers to support the economy.…