Kaspersky has signed a MoU with Codebase Technologies, a UAE-based provider of digital banking platforms and fintech solutions across the Middle East. The agreement seeks to explore opportunities for delivering digital banking and fintech solutions with enhanced cybersecurity capabilities to banks, financial institutions, fintech firms, and regulated entities in the region. The partnership will combine Codebase Technologies’ Digibanc digital banking platform and regional expertise with Kaspersky’s cybersecurity technologies, focusing on improving the security, resilience, and compliance of digital banking and fintech environments. Rashed Al-Momani, General Manager at Kaspersky Middle East, said: “Through this collaboration with Codebase Technologies, we aim to…

Digital payments are increasingly shaping how people pay in Saudi Arabia, with more consumers opting for faster, more secure methods. Visa’s third edition of the Where Cash Hides report shows that 67% of consumers in the Kingdom are largely non-cash users, primarily making payments with cards or mobile devices. This represents a 4% increase from last year, indicating a continued shift away from cash. Nearly one in four consumers still use cash for everyday purchases, but consumers are increasingly shifting away from it for dining out (-9%) and bill payments (-8%). Cash remains common for peer-to-peer transactions, with 39% of…

WRISE Group, a Singapore-based independent wealth management firm, has formed a strategic alliance with The Continental Group, one of the Middle East’s largest insurance intermediary and financial services groups. The partnership supports WRISE’s expansion in the UAE and the broader Middle East. The UAE has become a significant hub for global wealth. Economic growth, capital inflows, family office migration, favourable regulation, and a growing population of high-net-worth and ultra-high-net-worth individuals are driving the UAE’s emergence as a global wealth hub. Clients are increasingly seeking transparent, cross-border, and technology-enabled wealth solutions, which private banks have traditionally offered. The alliance combines WRISE’s…

Ignyte, a regional digital startup ecosystem, has concluded a series of programmes with a Demo Day held at the Museum of the Future. Selected startups presented their solutions to industry leaders, investors and global partners. du Business, Solana, TON Foundation and Avalanche partnered to deliver the challenge tracks. The initiative gave participating startups access to funding incentives and international networks. As part of the programme, Ignyte and Solana’s regional community also ran a developer-focused engagement series. This provided opportunities for hands-on testing, collaboration and solution development. Outcomes from the series were presented during the Demo Day. Ignyte is continuing to…

NEO PAY, a UAE-based payment solutions provider, has partnered with Wio Bank PJSC to introduce a Point-of-Sale (PoS) lending solution for SME merchants across the UAE. The lending facility provides merchants with access to funds based on their sales data, bypassing the lengthy procedures typical of conventional loan approvals and credit checks. Merchants repay loans based on their sales, which aligns instalments with revenue and eases financial pressure during slower periods. They can use the solution to finance working capital needs, including inventory purchases, marketing, or business expansion. Vibhor Mundhada, CEO of NEO PAY, said: “This partnership is a step…

Network International has entered a strategic processing agreement with Saudi Sudanese Bank. The partnership will provide the bank with end-to-end digital payment processing services, including Mastercard sponsorship, prepaid issuing, and additional value-added solutions. The agreement aims to modernise Sudan’s financial ecosystem, improve trade settlement efficiency, and create new investment channels. Saudi Sudanese Bank formalised the agreement during Cairo ICT 2025 as part of its efforts to enhance digital capabilities and customer experience. Dr. Reda Helal, Group Managing Director, Processing, Africa at Network International, said: “By bringing our advanced solutions to Saudi Sudanese Bank, we’re not only supporting their strategy, we’re…

Emirates NBD has issued AED 1 billion in three-year fixed-rate Digitally Native Notes (DNNs), marking the first AED-denominated digital bond and the largest public digital bond in the MENA region. The notes are listed on Nasdaq Dubai. Issued under Emirates NBD’s Euro Medium Term Note (EMTN) Programme, the bond utilises distributed ledger technology (DLT) on Euroclear’s Digital Financial Market Infrastructure (D-FMI) platform to digitise the bond lifecycle. Listing on Nasdaq Dubai provides secondary market access and aligns with international standards. The issuance attracted a diverse investor base, reflecting confidence in Emirates NBD’s credit quality and digital capabilities. Emirates NBD Capital,…

Thawani Pay has entered a strategic partnership with Network International to enhance digital payment services and credit card capabilities in Oman. The partnership follows Thawani Pay’s recent Visa licensing milestone, allowing the company to issue credit cards and develop new payment solutions. Under the agreement, Network International will provide credit card processing services, supporting Thawani Pay’s card development plans with scalable and secure infrastructure. The collaboration aims to advance digital payment adoption and contribute to Oman Vision 2040’s objectives of digitalisation and economic diversification. Majid Al Amri, Founder and CEO of Thawani Pay said: “By combining Thawani Pay’s local market…

Mastercard, Tappy Technologies, Thales, and First Abu Dhabi Bank (FAB) have launched the Fitness Payment Ring in the UAE, a device that integrates fitness tracking with contactless payment functionality. The ring allows users to link their FAB – Mastercard debit and credit cards via network tokenisation, enabling secure tap-to-pay transactions. Abdelhafid Mordi, CEO of Thales UAE, said: “At Thales, our role is to build a future we can all trust, and we are happy to be supporting the country’s ambitions for a secure, digital, and knowledge-driven economy with this partnership.” The Fitness Payment Ring combines Tappy’s wearable technology expertise with…

Sultan Haitham bin Tarik has issued a Royal Decree establishing the International Financial Centre of Oman (IFC Oman) and enacting its dedicated law. The move aligns with Oman’s strategic objectives to diversify the national economy, strengthen its position as a global financial hub, and support innovation. Under Royal Decree No. (8/2026), IFC Oman will operate with administrative, financial, and legislative independence, developing a regulatory, legal, and judicial framework based on English Common Law. Governance will be overseen by the IFC Oman Board, appointed by the Sultan. Three independent entities, the IFC Oman Authority, IFC Oman Regulator, and IFC Oman Dispute…

Lean Technologies, a financial infrastructure provider in the MENA region, and Ziina, a UAE-based payments platform, have launched the country’s first live customer-initiated Open Finance payment under the Central Bank of the UAE’s (CBUAE) Open Finance framework. Ziina, a licensed financial institution with Stored Value Facility (SVF) authorisation, is the first entity in the UAE to offer live Open Finance payments initiated by customers. Users can make instant, account-to-account payments via regulated Open Finance APIs that connect directly to their bank accounts, offering a faster and more transparent alternative to manual transfers. Lean provides the underlying infrastructure, including secure connectivity,…

Hashgraph Ventures Manager, a licensed venture capital fund regulated by the Financial Services Regulatory Authority (FSRA) of ADGM, has pledged US$1 million to the Hedera Africa Hackathon, Africa’s largest Web3 innovation event. The fund will consider selected projects from the hackathon for potential investment. The initiative aligns with Hashgraph Ventures’ mandate to support early-stage ventures in blockchain, AI, and deep technology. The fund is collaborating with The Hashgraph Association, a Swiss non-profit that promotes Hedera ecosystem adoption. It is also working with the Exponential Science Foundation, a global organisation investing in advanced technologies. With participation from United Gulf Financial Services…

In 2025, the regtech industry in Sub-Saharan Africa (SSA) continued to grow and mature, fuel by growing demand for efficient, cost-effective compliance solutions, evolving regulatory frameworks, and increasing regional integration, according to a new industry report by Regtech Africa, a digital tech media and consultancy platform. Soaring adoption of AI and emerging technologies Several trends shaped the space in 2025. Artificial intelligence (AI), in particular, emerged as a prominent topic, recognized for its potential to enhance regulatory compliance, automate risk monitoring, and improve the efficiency of reporting processes. According to the report, approximately 62% of financial institutions now implement AI-powered…

Abacus Group, an IT Managed Services Provider (MSP) and Managed Security Services Provider (MSSP) for highly regulated industries, has opened a new office in Abu Dhabi, expanding its presence in the Middle East. The move follows the company’s recent expansion into Dubai and forms part of its growth strategy in the UAE. Together, the two offices allow Abacus to support a wide range of financial services firms across the country and provide local access to IT and cybersecurity expertise. The Abu Dhabi office is located within the ADGM. The UAE’s regulatory framework and growing market demand continue to attract both…

Mal, the Abu Dhabi-based fintech founded by Abdallah Abu-Sheikh, has secured US$230 million in a Seed funding round, marking the largest seed-stage financing ever recorded in the MENA region. The UAE startup is developing an AI-driven Islamic financial platform aimed at serving Muslim and underbanked communities worldwide. According to FWDStart, BlueFive Capital led the round. The firm was founded in 2023 by former Investcorp executive Hazem Ben-Gacem and manages over US$4 billion in assets. It has offices in Abu Dhabi, Bahrain, London, and Beijing. Strategic investors and family offices also participated in the financing. Abu-Sheikh, well known in the region…

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) and Mastercard have announced a strategic collaboration aimed at expanding the bank’s consumer, commercial and digital payment capabilities. The agreement builds on Mastercard’s role as a technology partner to ABK-Egypt and supports the bank’s efforts to strengthen its digital payments offering for cardholders in Egypt. Under the collaboration, Mastercard will provide ABK-Egypt with digital payment solutions designed to streamline transaction processes and enhance security for both consumers and businesses. Commenting on the announcement, Khaled El Salawy, CEO and Managing Director of Al Ahli Bank of Kuwait – Egypt, said: “This collaboration supports…

botim money has partnered with Mastercard to enhance its global remittance capabilities via Mastercard Move. The integration allows users to send money from the UAE to more than 150 countries, with payouts to bank accounts, mobile wallets, or cash collection, depending on the market, directly through the botim app. Dr. Tariq Bin Hendi, Board Member of Astra Tech and CEO of botim, said: “By embedding global remittances into botim, we’re making money transfer faster, safer, and more inclusive; especially for users who have limited financial access. This collaboration reiterates our commitment to making financial services accessible, intuitive, and empowering for…

MoneyHash has partnered with Spare, a regional open banking infrastructure provider in the GCC, to enable merchants in the UAE to offer Pay By Bank solutions. The collaboration aims to reduce payment costs, shorten settlement times, and support account-to-account transactions. The partnership aligns with MoneyHash’s focus on expanding digital payment options beyond traditional card-based models. By integrating Spare’s open banking payment initiation APIs, the platform provides secure access to financial data while complying with regional regulations. “Open banking is reshaping how digital payments evolve in the region, bringing new ways to enhance security, speed, and customer choice,” said Maram Alikaj, Chief…

Zand has completed the integration of XDC Network, an enterprise-grade blockchain platform. This integration allows corporate and institutional clients to custody assets on the XDC Network through Zand’s institutional-grade digital asset custody service, subject to regulatory approvals. The integration also supports gold trading through ComTech Gold, which combines blockchain technology with gold investment. Zand CEO Michael Chan said, “This collaboration with XDC Network supports our vision of building blockchain-powered financial products to help bridge the gap between Traditional Finance and Decentralized Finance and advance the digital economy.” Ritesh Kakkad, Co-Founder of XDC Network, added, “Our partnership with Zand brings together…

The Dubai Financial Services Authority (DFSA) has implemented an updated regulatory framework for Crypto Tokens. The revised rules aim to provide greater clarity for market participants and support a transparent and well-regulated digital assets environment. The updated framework follows a consultation in October 2025 and reflects the DFSA’s approach since the launch of the Crypto Token regime in 2022. Over the past three years, the DFSA has monitored market developments and engaged with industry stakeholders and international regulators to ensure its rules remain robust and globally aligned. A significant change under the new framework is the shift from a DFSA-led…