Turkish participation banks increased their share of the domestic banking market in 2025, with total assets rising to 9.2% from 8.1% in 2024, according to Fitch Ratings’ Turkish Islamic Banks Monitor: 2026 report. The agency expects market share gains to continue in 2026, supported by internal capital generation and sustained growth appetite. Fitch noted that three recently established private participation banks, including two digital institutions, recorded strong growth in the first nine months of 2025. Investment in digital participation banking from Gulf Cooperation Council countries highlights potential for further regional investment. The planned establishment of new participation banks, together with…

Dubai Chambers has expanded its support for businesses by improving access to alternative and digital banking services through new MoUs with four fintech firms. The agreements, signed with Dubai Chambers, establish partnerships with Mamo, Qashio, Pemo, and Vault. The initiative aims to address the operational and financing challenges faced by SMEs in Dubai. Under the framework, SMEs will gain access to services including alternative savings accounts, corporate cards, working capital financing, and online payment solutions. The collaborations also cover joint events, workshops, and training sessions focused on financial technology adoption and automation, alongside incentive programmes aimed at encouraging uptake of…

Mastercard and Google have expanded their collaboration to support the wider use of Google Pay in the Kingdom of Saudi Arabia, following the service’s recent launch in the market. The expansion enables Android users to make contactless payments at physical retail locations and complete online transactions using Google Pay. It reflects growing consumer adoption of digital payment methods and supports national efforts to reduce reliance on cash. “Every step we take at Mastercard is guided by our mission to connect and power an inclusive, digital economy,” said Saud Swar, Country Manager for Saudi Arabia, Bahrain, Jordan and the Levant. He…

Swiss-based technology startup investor CV VC is expanding its international operations through a merger with Abu Dhabi-based accelerator Elixir. The move responds to rising demand for cross-border early-stage support in blockchain, AI and the digital economy. The merger combines CV VC’s global investment and ecosystem activities with Elixir’s regional presence in Abu Dhabi. It comes as the UAE positions itself as a regulated hub for digital assets and emerging technologies. The deal also supports CV VC’s strategy of operating across interconnected and regulated innovation hubs. In addition to its headquarters in Switzerland, the firm operates in Liechtenstein, South Africa, the…

A leadership transition is underway at Mashreq’s digital bank Neo as global head Radu Topliceanu announces his departure. Topliceanu, who has led Neo since early 2023, wrote on LinkedIn: “After 3+ years as global head of Neo at Mashreq, I’m moving on – back to Europe for my next chapter, to lead retail banking transformation.” Launched in 2017 by UAE-headquartered Mashreq, Neo provides mobile-based retail banking services, including loans, cards and money transfers. Under Topliceanu’s leadership, Neo’s balance sheet tripled, supported by expansion into Egypt and a successful go-live in Pakistan last year, FinTech Futures reports. On this, he said:…

Stake, a digital real estate investment platform in the Middle East, has closed an oversubscribed Series B funding round, raising US$31 million. The round was led by Emirates NBD, with participation from Mubadala Investment Company’s MENA Venture Capital Fund, Middle East Venture Partners (MEVP), Property Finder, STV NICE, Wa’ed Ventures, GFH Partners, and Ellington Properties. With this round, Stake’s total funding reaches US$58 million. Neeraj Makin, Group Head – Strategy, Analytics and Venture Capital at Emirates NBD, said: “Real estate remains a foundational component of global investment portfolios, yet there is an opportunity to improve how investors access and gain…

eNovate, a subsidiary of eFinance Investment Group, and Cobi, a UAE-based AI-native customer intelligence platform, have integrated Cobi’s AI capabilities into eNovate’s digital payment ecosystem. Enabled through Mastercard’s Engage programme, the collaboration combines eNovate’s digital payments suite with Cobi’s intelligence platform to provide financial institutions with deeper insights and personalised engagement. The partnership begins with eNovate’s Rize app, a digital wallet targeting Egypt’s youth. Cobi’s behavioural AI engine will deliver real-time personalisation, helping banks and fintechs understand spending patterns, reduce friction, and support targeted product interventions. eNovate will extend the capability across its broader digital payment services, creating Egypt’s first…

Solidrange, a Saudi cybersecurity startup focused on AI-driven governance, risk, and compliance (GRC) automation and cybersecurity awareness solutions, has closed a US$2.4 million Seed funding round. The round was led by Sharaka Capital, with participation from Sadu Capital, SEEDRA Ventures, and Tali Ventures, the investment arm of stc (Saudi Telecom Company). The funding will support Solidrange’s regional expansion, product development, and the integration of artificial intelligence across its platforms. Its solutions align with Saudi Arabia’s national cybersecurity objectives and support the Kingdom’s Vision 2030 goals. Founded in 2023 and headquartered in Riyadh, Solidrange is led by Jamal M. Labani, CEO…

Banks don’t have an “attention problem.” They already have customers in their mobile apps every week – often every day. The real challenge is what happens during those visits: too many experiences remain static, generic, and disconnected from the customer’s real financial context. At the same time, banks are under pressure to deliver more change with the same (or tighter) capacity, while AI programs frequently stall in pilots because leadership needs safe, provable outcomes – not hype. At Finshape, our AI strategy is built around three problems banks feel every day – and three concrete outcomes: faster delivery, higher revenue…

The 19th Asian Financial Forum (AFF) concluded on 27 January 2026, marking a success for Hong Kong’s financial ecosystem as it showcased the city’s strengths in empowering the industry. Jointly organised by the Hong Kong SAR Government and the Hong Kong Trade Development Council (HKTDC), the forum served as a super-connector, attracting 4000+ global leaders from more than 60 countries and regions to deliberate on the theme “Co-Creating New Horizons Amid an Evolving Landscape.” A Global Stage for Strategic Dialogue & Cooperation The two-day event featured a high-powered lineup of 150+ speakers, including financial institution representatives and leaders of multilateral…

Hong Kong Exchanges and Clearing Limited (HKEX) has appointed Jalal Almarhoon as Managing Director and Chief Regional Representative for the Middle East. Based in HKEX’s recently opened Riyadh office, Almarhoon joined the Group on 10 February 2026 and reports to Johnson Chui, Head of Global Issuer Services. In this role, Almarhoon will lead HKEX’s activities in Saudi Arabia and across the Middle East. His responsibilities will cover both primary and secondary markets. He will promote HKEX as a listing venue for regional issuers and manage relationships with key investors and stakeholders. As the Group’s most senior representative in the Middle…

EthSwitch, Ethiopia’s national switch owned by public and private banks together with the National Bank of Ethiopia, has launched the country’s National Instant Payment System. The system uses BPC’s SmartVista platform. It was unveiled at the Ethiopia Digital Payment Conference 2.0 in December 2025 by Dr Eyob Tekalign, Governor of the National Bank of Ethiopia, and Temesgen Tiruneh, Deputy Prime Minister. EthSwitch now connects 32 banks, 12 microfinance institutions, three payment service operators, and three payment instrument issuers. It provides card-switch hosting, centralised reconciliation, and card and shared e-wallet services. The new EthioPay-IPS allows financial institutions to offer real-time account-to-account…

Dubai International Financial Centre (DIFC) has welcomed CapitaLand Investment (CLI) as it establishes a new office in the city. CLI, a global real asset manager headquartered in Singapore, operates across more than 270 cities in 45 countries and provides investment and operational services across the real estate value chain. The Dubai office forms part of CLI’s strategy to serve institutional partners and pursue opportunities in high-growth markets, building on nearly two decades of regional experience through its lodging arm, The Ascott. Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, said: “With its global footprint and deep capabilities across multiple…

Mashreq has introduced a cross-border service for its UAE-based Pakistani customers. The service allows Pakistani nationals holding a Mashreq UAE account to open accounts with Mashreq Pakistan remotely, access both UAE and Pakistan accounts in a single view, and transfer funds instantly via the Mashreq UAE mobile app. The digital service removes the need for physical documents or branch visits in Pakistan, replacing the traditional account-opening process with a fully digital experience. Customers can manage both accounts through a unified dashboard within the app, providing greater visibility and control over their cross-border finances. Once customers activate their Pakistan account, they…

The Central Bank of the UAE (CBUAE) and the Hong Kong Monetary Authority (HKMA) held their third meeting in Abu Dhabi. Khaled Mohamed Balama, Governor of the CBUAE, and Eddie Yue, Chief Executive of the HKMA, chaired the meeting. It aimed to strengthen collaboration and connectivity between the financial sectors of both jurisdictions. The meeting built on progress from their second meeting in Hong Kong in December 2024. Officials discussed cross-border debt capital market connectivity, developments in digital assets, tokenisation, central bank digital currencies, stablecoin regulations, and supply chain financing. Senior representatives from both institutions attended, highlighting their commitment to…

IHC, Sirius International Holding, and First Abu Dhabi Bank (FAB) have announced that the Central Bank of the UAE (CBUAE) has approved the UAE dirham-backed stablecoin DDSC for launch. The stablecoin will operate on ADI Chain, an institutional Layer-2 blockchain developed by the Abu Dhabi-based ADI Foundation. DDSC builds on a stablecoin initiative first announced in April 2025 by IHC and FAB. Sirius International Holding, IHC’s technology-focused subsidiary, will support deployment, integration, and adoption. Designed for institutional and government-led use cases, DDSC is intended for payments and collections, high-value settlement and treasury operations, trade and supply-chain flows, and programmable financial…

Juspay, an India-based provider of payment infrastructure for enterprises and banks, has opened its regional headquarters at Dubai International Financial Centre (DIFC). The office marks the company’s expansion into the Middle East. It will support engagement with regional partners as demand for enterprise payment solutions grows. Digital commerce in the GCC is expanding quickly. Enterprises in airlines, hospitality, e-commerce, and financial services face challenges from multiple currencies, evolving regulations, and diverse local payment methods. Juspay’s payments orchestration platform provides a unified system. It helps organisations improve authorisation rates, manage costs, ensure compliance, and scale across regional and global markets. Commenting…

Open Stable Network (OSN), a global on-chain foreign exchange (FX) settlement infrastructure provider, has activated a new payment corridor between the Philippines and the UAE. This infrastructure provides businesses with enterprise-grade access to fiat-to-stablecoin FX settlements across emerging and major financial markets. OSN claims that this new corridor offers transaction fees up to 50% lower than those found on leading payment platforms. The framework eliminates the high costs and delays typical of legacy correspondent banking. It facilitates bi-directional fund flows between stablecoins and fiat currencies like the USD, AED, EUR, and PHP. Businesses can bypass the latency and expenses associated…

Smart Bricks, an AI company focused on real-estate investing, has raised a US$5 million pre-seed round led by Andreessen Horowitz’s a16z Speedrun, with participation from funds and angel investors across the US, Europe, and the Middle East. Founded in 2024, the company builds agentic AI systems that automate how investors identify, analyse, and transact real estate. Its platform applies autonomous reasoning to sourcing, valuation, underwriting, due diligence, and execution, reducing processes that typically take months to a matter of minutes. Smart Bricks aggregates more than one million public and proprietary data feeds to assess factors such as pricing, liquidity, regulation,…

Egypt’s Financial Regulatory Authority (FRA) has introduced a digital platform for regulatory reporting. This marks the first phase ahead of a full e-reporting requirement for all non-banking financial institutions. The initiative is part of FRA’s efforts to modernise oversight and improve regulatory processes. The platform allows institutions to submit reports and documents with integrated electronic signatures. These signatures are automatically verified through a partnership with Delta Electronic Systems. Delta is a certified service provider authorised by the Information Technology Industry Development Agency (ITIDA). In addition to streamlining reporting, the platform centralises communication between the Authority and regulated entities. The rollout…