Shory, a First.tech company and the UAE’s digital insurance platform, has launched its digital vehicle insurance renewal service on TAMM 4.0, in collaboration with TAMM, the Abu Dhabi Government Services Platform. The service allows residents to renew insurance, arrange vehicle inspections, and complete car registration through a single, secure, government-verified process. It uses AI to verify inspection, insurance, and registration details in real time, enabling transactions to be completed digitally and authenticated through UAE PASS. The integration leverages TAMM 4.0 features such as AutoGov and Single Prompt. AutoGov allows customers to pre-authorise recurring transactions, storing verified data for automatic renewals.…

The Ministry of Finance and the Dubai Department of Finance (DOF) have completed the UAE’s first government financial transaction using the Digital Dirham, in collaboration with the Central Bank of the UAE (CBUAE). The transaction marks a key milestone in the pilot phase of the Digital Dirham project under the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, which aims to advance digital payments and strengthen the UAE’s position as a global financial hub. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the CBUAE, said the Digital Dirham is a “strategic…

BENEFIT, Bahrain’s fintech and electronic financial transactions service provider, has signed a linkage agreement with NPCI International Payments Limited (NIPL) of India to enable interoperability between Bahrain’s Electronic Fund Transfer System (EFTS), particularly its Fawri+ service, and India’s Unified Payments Interface (UPI). The initiative, overseen by the Central Bank of Bahrain (CBB) and the Reserve Bank of India (RBI), aims to enhance cross-border payment connectivity between the two countries. It will allow users in both countries to make real-time, secure cross-border transfers. Abdulwahed AlJanahi, Chief Executive of BENEFIT, said: “The partnership underscores our commitment to delivering advanced digital payment services…

Abdul Latif Jameel Finance, a provider of financing solutions regulated by the Saudi Central Bank (SAMA), and Ant International have signed a MoU to explore opportunities in the fintech sector in Saudi Arabia. The collaboration aims to support the growth of SMEs in the Kingdom through advanced digital services. The partnership will focus on a range of digital financial services for businesses and consumers. This includes exploring how WorldFirst, Ant International’s digital cross-border payment and treasury account service, can support Abdul Latif Jameel Finance’s digitisation strategy across its financial and consumer businesses. The parties will also collaborate on cross-border payment…

Equinix, a global digital infrastructure company, has announced plans to open a new high-performance data centre in Lagos, Nigeria. The US$22 million LG3 facility represents the first phase of a planned US$100 million investment in Africa over the next two years. Scheduled to open in the first quarter of 2026, the data centre will provide infrastructure to support local businesses and attract international companies to Lagos, a growing hub for global connectivity. The LG3 site will also incorporate Equinix Fabric, allowing businesses to connect physical and virtual infrastructure to cloud providers, partners, and other Equinix locations worldwide. “LG3 marks a…

The United Arab Emirates (UAE) has established itself as the leading fintech hub in the Middle East, boasting 329 fintech companies in 2024, surpassing Saudi Arabia’s 261 and Egypt’s 177. The UAE also dominates the region’s fintech investment landscape, recording the lion’s share in fintech deals in H1 2025 with 39 transactions, according to Magnitt, further cementing its position as the Middle East and North Africa (MENA) region’s most dynamic fintech market. This burgeoning landscape has made the UAE a premier destination for fintech events, attracting global industry leaders to explore opportunities and tackle emerging challenges. Among the many conferences…

Saudi Arabia is moving closer to launching stablecoins under national regulation, with global crypto exchanges expressing support for the Kingdom’s digital asset plans. Minister of Municipal, Rural Affairs and Housing Majed al-Hogail said the government aims to introduce stablecoins soon with the Capital Market Authority and the Central Bank. “If digital currencies are developed within Saudi values and regulations, it will create a faster financial system,” he said. According to Alarabiya, stablecoins are digital currencies pegged to a reserve asset such as the US dollar or gold, offering the speed of crypto with the stability of traditional money. Unlike Bitcoin…

Stephen Carter, Chief Executive of London-listed publishing and events group Informa, has reportedly moved his residency from the UK to the UAE, joining a rising number of wealthy British residents relocating to the Emirates. The move, first reported by the Financial Times, means the former aide to Gordon Brown will now run Informa from the UAE. While the relocation is likely to provide tax advantages, the FT report did not detail other potential benefits for Carter, who is entitled to sit in the UK House of Lords as Baron Carter of Barnes. Informa, which owns the global fintech and payments…

First Circle Capital, an early-stage venture fund focused on African fintech, has secured US$6 million from the International Finance Corporation (IFC), a member of the World Bank Group, to expand its investments in financial technology startups across the continent. Based in Casablanca and Kampala, First Circle Capital invests in pre-seed and seed-stage companies addressing key challenges in financial services. The firm is targeting a US$30 million fund to build a focused portfolio of 24 startups, offering both capital and operational support to help founders prepare for Series A funding. So far, the fund has backed 15 startups across eight African…

Stream, a Saudi-founded platform focused on modernising billing and payments for businesses in the MENA region, has secured US$4 million in seed funding to advance its goal of simplifying how businesses get paid. The round was led by early-stage investment firm Outliers VC, with participation from BYLD Ventures and angel investors including Abdullah Elyas, Co-founder of Careem. The funding will be used to enhance Stream’s product development, including engineering, compliance, and payment capabilities, while improving its user experience and internal systems to support a growing subscriber base. Founded in 2024 by Ibrahim Aldlaigan, Stream offers tools to manage and automate…

Adyen, a global financial technology platform, has announced the launch of two new payment terminals in the UAE, the S1E4 Pro and S1F4 Pro. Designed for use across sectors such as retail, food and beverage, hospitality, and beauty and wellness, the devices mark the company’s latest advancement in in-person payment solutions. The S1E4 Pro is a mobile point-of-sale (POS) terminal built for durability, with an IP-65 rating for spill and dust resistance, and a 1.5-metre drop-proof design. It features a 6.1-inch display, hand strap, all-day battery life, and supports 4G and Wi-Fi connectivity. The device accepts all major payment methods…

Fintech in Saudi Arabia is growing at a rapid pace, fueled by an expanding startup ecosystem, a rising talent pool, and continued strong capital inflows. According to Fintech Saudi’s annual fintech report, Saudi Arabia is now home to 261 fintech companies, up 21% from 216 a year earlier and 13% above the target of 230 companies set for the end of 2025. Investment activity is also strong, with fintech recording the highest number of disclosed venture capital (VC) deals in Saudi Arabia in 2024 at 16 transactions and accounting for 18% of all VC activity. This growth is fueling job…

The Meltwater Entrepreneurial School of Technology (MEST Africa), in partnership with Absa, has announced the top 10 finalists for the 2025 MEST Africa Challenge (MAC), a pan-African pitch competition supporting early-stage startups in the technology sector. Following semi-final pitches on 28 and 29 October, ten ventures were selected from a competitive pool across eight African markets for their potential to scale and reshape digital financial systems on the continent. The 10 finalists are: “Each year, the Challenge grows not only in reach but in the depth of innovation it attracts,”…

MoneyHash, a payment orchestration platform, has appointed Abdullah Khayat as Country Director and General Manager for Saudi Arabia. Khayat brings over a decade of experience in driving growth and digital transformation across the financial services, fintech, retail, and government sectors in Saudi Arabia and the wider MENA region. The company aims to strengthen its presence by investing in local leadership, forming strategic partnerships, and supporting businesses with scalable and secure payment solutions. In his new role, Khayat will lead MoneyHash’s operations and strategy in Saudi Arabia, focusing on enterprise growth, industry partnerships, and the adoption of advanced payment orchestration technology…

DisrupTech Ventures, an early-stage fintech venture capital fund, has invested in Chari, a Y Combinator–backed startup transforming Morocco’s retail sector into a nationwide fintech network. This marks DisrupTech’s first investment in Morocco and its second in Africa outside Egypt, reflecting its broader commitment to fintech development across the continent. Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari operates a licensed fintech platform that enables thousands of neighbourhood shops to provide digital payments and financial services. With a payment institution licence from the Central Bank of Morocco, the company allows merchants to act as financial access points within their…

Emirates NBD has partnered with Letswork, a regional provider of flexible workspaces, to give employees access to more than 4,000 coworking desks, meeting rooms, and offices across the UAE and other locations. Under the agreement, selected Emirates NBD employees will take part in a 12-month pilot to access on-demand workspaces through Letswork’s platform, with the possibility of expansion across the bank. The partnership builds on Letswork’s involvement in Emirates NBD’s National Digital Talent Incubator (NDTI) Programme, where initial discussions led to this collaboration. Through Letswork’s platform, employees can book meeting rooms, coworking spaces, and private offices across over 100 locations…

NCR Atleos has partnered with Kuwait Finance House (KFH) to introduce an AI-powered video avatar designed to enhance in-branch customer services. The initiative deploys conversational AI avatars at KFH’s account service kiosks to provide real-time, personalised assistance. The avatars can answer frequently asked questions, offer branch-specific information, and, in the next phase, guide customers through transactions. When necessary, interactions can be escalated to a live agent. “Our collaboration with Atleos marks a significant milestone in the evolution of banking,” said Meshal Mandani, Executive Manager of Digital Channels at KFH. “By integrating conversational AI into the branch environment, we’re enabling a…

Singapore Gulf Bank has partnered with Fireblocks to secure its digital asset custody and treasury operations. The fully licensed digital wholesale bank, regulated by the Central Bank of Bahrain, will use Fireblocks’ enterprise platform for custody, settlement, trading operations, and stablecoin payments. The system automates treasury workflows, manages liquidity across multiple accounts and venues, and safeguards digital assets. SGB also plans to use Fireblocks for on- and off-ramps and stablecoin issuance. Founded by the privately held Singaporean investment firm Whampoa Group and backed by Bahrain’s sovereign wealth fund Mumtalakat, SGB serves global corporate and retail clients through unified banking solutions…

After a record-breaking September, investment activity across MENA startups slowed in October, with total funding falling to US$784.9 million across 43 deals, down 77% month-on-month from September’s US$3.5 billion. Despite the decline, the figure represents a 395% year-on-year increase, indicating continued investor interest in the region’s tech sector. Debt financing remained the dominant trend. Four debt deals accounted for 72% of total funding, worth US$567.8 million, while equity and other instruments collectively raised US$217 million. The data reflects a growing reliance on debt-backed growth, particularly among late-stage and asset-heavy startups. The UAE emerged as the most funded ecosystem in October,…

TymeBank has appointed Cheslyn Jacobs as its new Chief Executive Officer, effective 1 January 2026. Jacobs will succeed Karl Westvig, who has been part of the bank’s leadership since 2023 and will remain in an advisory role to support its continued growth. A founding member of TymeBank, Jacobs brings extensive institutional knowledge and leadership experience, having played a key role in the bank’s development since its inception. His appointment signals a new phase for the bank, focusing on innovation, customer experience, and sustainable expansion. “Cheslyn’s deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into…