Uber has officially ceased operations in Tanzania as of 30 January, ending its ride-hailing services in the country. The company announced the decision, expressing regret for the disruption to daily commuters and thanking Tanzanians for their support since its launch in Dar es Salaam, according to The Kenya Times. “We have difficult news. Starting today, 30 Jan 2026, Uber services will no longer be available in Tanzania. We know this may be disappointing, and we apologise for any inconvenience this may cause,” it wrote to clients. Since entering the Tanzanian market, Uber provided residents with an alternative means of transport,…

Qatar’s Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, opened Web Summit Qatar 2026 with a keynote outlining the country’s ambition to actively shape the future of technology and innovation. Speaking at the opening ceremony in Doha, he said the summit, now in its third edition, has grown into a key platform for the global technology and innovation community. He noted that it is also playing an increasing role in driving investment activity, according to Arab Founders. The Prime Minister added that Web Summit Qatar has helped position the country as a meeting…

Ooredoo Fintech has announced a strategic partnership with Western Union, integrating its services into the Ooredoo Money app. The rollout begins in Qatar, with plans to extend across the region. The integration enables Ooredoo Money customers in Qatar to access additional options for sending and receiving money, providing greater flexibility while using Ooredoo Money’s platform. The initiative forms part of Ooredoo Fintech’s ongoing efforts to promote digital financial inclusion and expand access to modern financial services across its markets. Aziz Fakhroo, Chairman of Ooredoo Fintech, said: “By integrating Western Union into the Ooredoo Money app, we are giving users greater…

Saudi Arabia has reclaimed its position as the leading destination for startup financing in the Middle East and North Africa (MENA) region, driven mainly by fintech and later-stage activity. New data released by Wamda, a startup market research platform and venture capital (VC) investor, show that venture funding and debt financing to Saudi tech startups surged to US$5 billion in 2025. This represents a staggering 400% year-over-year (YoY) increase from just US$1 billion in 2024, and accounts for 67% of the region’s total startup funding, which reached US$7.5 billion in 2025. The figure makes Saudi Arabia MENA’s top recipient of…

Located in the southeastern Arabian Peninsula, Oman is Sultanate that borders the United Arab Emirates (UAE), Saudi Arabia, and Yemen. Historically reliant on oil and gas, the country is actively diversifying its economy to create sustainable growth and reduce dependence on hydrocarbons. This transformation is guided by Oman Vision 2040, a development program first announced in 2020 and which seeks to achieve diversification across the economy, society, and culture for the period of 2021-2040. Central to this plan is the imperative of building a knowledge, technology-driven economy. In practice, this means investing in digital infrastructure, encouraging research and development (R&D),…

For frequent flyers, travel reward schemes are a compelling resource that allows them to save money on their travel experience, get nearly free flights and hotel stays, and take on luxury vacations that they would other be unwilling to spend cash on. In the Middle East, Emirates’ airline miles scheme, Skywards, is amongst the largest loyalty programs, providing members with exclusive benefits and privileges across a global network of partners of airlines, hotels and retailers. Though commonly, the basic way to earn Skywards Miles is to fly often, members can also earn miles by signing up for a Skywards credit…

OFZA Fintech Virtual Asset Exchange (OFZA), a UAE-based regulated Virtual Asset Service Provider (VASP), has entered into a non-binding strategic collaboration with Trakx, a global fintech company registered with the French financial markets regulator (AMF). The collaboration focuses on research and industry discussion around thematic virtual asset index methodologies. As virtual asset markets mature, institutional and professional participants are increasingly assessing structured, rules-based approaches. These approaches support the analysis of market segments, portfolio construction and risk characteristics. In traditional finance, market participants use index methodologies to support comparability and disciplined analysis. Similar frameworks are now being examined in virtual asset…

Beltone Venture Capital has made an equity investment in Yakeey as part of the startup’s US$15 million Series A round, the largest Series A funding round completed in Morocco to date. Yakeey provides a digital platform for real estate transactions, integrating property search, valuation, brokerage and financing. The platform uses proprietary data and a network of brokers to streamline property buying, selling and financing in Morocco. The company, founded by a team with local market experience, has shown early scalability and aims to expand regionally as demand for digitised real estate services grows in North Africa. Beltone Venture Capital joins…

Since the Saudi Central Bank (SAMA) introduced regulation for digital-only bank licensing in February 2020, the country’s digital banking landscape has been reshaped dramatically. New players have entered the market, customer adoption has accelerated, and innovation has surged across the sector. Among the many newcomers, several ventures have emerged as clear leaders. These companies, which include both licensed digital banks and independent neobanking startups, are redefining customer relationships and service delivery, setting new standards for the industry. In this article, we highlight the biggest and most prominent players in Saudi Arabia’s digital banking ecosystem, focusing on independent, standalone digital banks…

State Street, a US-based provider of financial services to institutional investors, has signed a support agreement with the Abu Dhabi Investment Office (ADIO) to establish a new operating centre in Al Ain, Abu Dhabi. The move is part of the company’s long-term expansion strategy in the UAE and its continued involvement in the ADGM ecosystem. Over the next four years, the centre will create more than 300 financial services roles, offering career pathways for local Emirati talent. State Street will also collaborate with universities to offer internships, training, and seminars aimed at developing the next generation of financial professionals. “State…

Dubai Insurance has launched a digital wallet for crypto assets in partnership with Zodia Custody. The wallet allows policyholders to pay premiums and receive claims in digital assets. It provides a regulated infrastructure designed for secure and transparent transactions. “This initiative marks a defining moment for us and the insurance sector in UAE. With the launch of our digital asset wallet, we are embracing innovation in line with the UAE’s vision to lead the future of digital finance,” said Abdellatif Abuqurah, CEO of Dubai Insurance. Through its partnership with Zodia Custody, Dubai Insurance benefits from an institutional-grade custody platform. It…

Emirates NBD Capital, the investment banking arm of Emirates NBD, has received regulatory approval from the Securities and Exchange Board of India (SEBI) for a Category I Merchant Banking license. The Category I license allows Emirates NBD Capital to provide a full range of capital markets services in India. These include acting as merchant banker and bookrunner for equity capital market transactions, such as initial public offerings, follow-on offerings and qualified institutional placements. The license also allows the firm to arrange local debt capital market placements. The approval enables Emirates NBD Capital to expand its presence in India and will…

Universal Digital (Universal), regulated by the Financial Services Regulatory Authority (FSRA) of ADGM, has become a Foreign Payment Token Issuer registered by the Central Bank of the UAE (CBUAE) with the launch of USDU, a USD-backed stablecoin under the UAE’s Payment Token Services Regulation (PTSR). This provides a compliant USD-denominated settlement option for digital assets in the UAE. The PTSR allows digital-asset payments and derivatives only in fiat currency or a Registered Foreign Payment Token. USDU’s registration establishes a clear settlement pathway for the UAE’s digital-asset market. USDU is supported by Emirates NBD, Mashreq, and Mbank. A global accounting firm…

The ADGM Registration Authority (RA) published Discussion Paper No. 1 of 2026, seeking feedback from stakeholders on proposed guidance for crypto mining activities conducted within or from ADGM. The proposals aim to clarify regulations while promoting responsible innovation and strong governance standards across the crypto mining sector. The guidance takes a technology-neutral approach, applying to all consensus mechanisms, including Proof-of-Work (PoW), Proof-of-Stake (PoS), and future technologies. It introduces a commercial licensing framework, treating crypto mining as a licensed commercial activity rather than a financial service. The proposals also set out governance expectations, requiring corporate transparency, disclosure of beneficial ownership, and…

Through the Central Bank of the UAE (CBUAE)’s Sandbox Programme and Innovation Hub at the Emirates Institute of Finance (EIF), and in collaboration with Network International, the CBUAE has introduced a biometric payment solution using facial and palm recognition. The system is currently in a Proof-of-Concept phase at the Dubai Land Department. It allows customers to make payments by authenticating their identity with facial or palm recognition. This removes the need for physical cards or mobile devices. The solution is provided by Network International and powered by PopID. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services…

MoneyHash has partnered with Tap Payments, a payment institution serving businesses across MENA. The integration allows MoneyHash merchants to use Tap’s payment gateway while managing routing, monitoring, and performance through MoneyHash’s orchestration layer. This supports businesses in accepting a wider range of payment methods across multiple channels while maintaining operational control. “Payment flexibility is becoming essential as businesses operate across different markets and digital channels,” said Mohamed Amir, Head of Sales and Solutions at MoneyHash. “Integrating Tap into our platform strengthens our ability to support merchants with reliable payment infrastructure that reflects how customers prefer to pay across the region.”…

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has officially launched the DIFC Zabeel District, a major expansion of the Dubai International Financial Centre (DIFC). The new district aims to strengthen Dubai’s position as a leading financial hub in the Middle East, Africa and South Asia. It will also support the city’s broader business and lifestyle offerings. The DIFC Zabeel District spans 7.1 million sq. ft. Its total gross floor area is 17.7 million sq. ft, with a gross development value exceeding AED100 billion (US$27 billion) The expansion will accommodate…

Property Finder has received a US$170 million investment from Mubadala Investment Company, another UAE sovereign wealth fund, and BECO Capital. Mubadala and the sovereign fund will each contribute US$75 million. BECO Capital will invest US$20 million from its newly launched US$250 million Growth Fund I. This marks BECO’s first deployment from the fund. This follows the US$525 million raised in 2025, which was led by Permira and Blackstone Growth. The funding brings Property Finder’s total equity financing to nearly US$700 million. In addition, the company has raised US$250 million in debt from Ares Management and HSBC. General Atlantic, an early…

Turkey is home to the fastest-growing startup ecosystem in Europe, the Middle East and Africa (EMEA), with fintech emerging as one of the most dynamic verticals. Turkey’s combined startup ecosystem value now surpasses EUR 40 billion, growing by a staggering ninefold between 2019 and 2024, according to a 2025 report by the Digital Transformation Office (DTO) of the Presidency of the Republic of Turkey and Dealroom. This growth rate outpaces many regional peers, including Saudi Arabia at 6.9x, and the United Arab Emirates (UAE) at 3.3x, and even the UK at 2.1x, reflecting strong domestic demand for digital services and…

PayPal has entered into a partnership with NEO PAY, a UAE-based digital payments provider. The collaboration allows merchants across the UAE to accept PayPal payments, providing a secure method for consumers to pay online. The integration with NEO PAY’s acquiring infrastructure is expected to simplify merchant onboarding, particularly benefiting SMEs seeking access to international markets. SMEs account for 94% of businesses in the UAE and contribute over half of the country’s GDP. “The UAE is a vibrant and digitally forward economy with a rapidly expanding e-commerce landscape and a strong appetite for financial innovation,” said Otto Williams, Senior Vice President,…