Fawry, a fintech company in Egypt, has announced a strategic partnership with FORSA, a subsidiary of Drive Finance under GB Capital, the financial division of GB Corp. This development aligns with Egypt’s Vision 2030, which aims to build an integrated and sustainable digital economy, and forms part of Fawry’s approach to advancing digital transformation and financial inclusion within the fintech sector. The partnership seeks to provide Buy Now, Pay Later (BNPL) options alongside instalment services through Fawry’s network of over 395,000 point-of-sale (POS) terminals across Egypt. It will also support merchants by allowing them to utilise FORSA’s services to streamline…

Ant International, a global provider of digital payment, digitisation, and financial technology services, has announced two developments that mark a step forward in its expansion in the UAE. The company has signed a MoU with the Abu Dhabi Investment Office (ADIO) and received In-Principle Approval (IPA) for the Stored Value Facilities (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses from the Central Bank of the UAE (CBUAE). The MoU with ADIO is aimed at supporting the growth of Abu Dhabi’s financial technology sector by using Ant International’s technological expertise to assist local businesses and promote financial inclusion, as…

Mastercard has partnered with IFZA, a UAE free zone, and international consulting firm Global Tax Assistant to introduce a fully digital, AI-driven business registration process in the country. The initiative aims to support the growth of SMEs and facilitate their expansion into Eastern Europe, the Middle East and Africa (EEMEA). SMEs account for over 94% of businesses in the UAE and contribute more than 50% of the nation’s GDP. The UAE’s National Agenda for Entrepreneurship and SMEs seeks to position the country among the top three nations in the Global Entrepreneurship Index by 2031. According to the partners, this project…

MDP, a longstanding player in Africa’s card issuing and processing sector, is reinforcing its position across the Middle East and Africa (MEA) through a strategic collaboration with global payment solutions provider BPC. The partnership has resulted in the development of a next-generation third-party processing centre, built using BPC’s SmartVista platform, aimed at delivering secure, scalable, and integrated payment services throughout the region. With this technology, MDP has established a modular stack that integrates issuing, acquiring, and processing services. This architecture enables the company to serve banks, fintechs, and merchants across the MEA region with increased flexibility. MDP’s objective was to…

Presight, a Abu Dhabi-based AI and big data analytics firm, has signed a MoU with Dow Jones Factiva, a provider of regulatory-grade risk intelligence. The agreement will see the two organisations explore the development of AI-native risk and compliance tools aimed at supporting financial institutions, regulators, and sovereign entities in managing increasingly complex global challenges. The potential partnership intends to combine Dow Jones Factiva’s regulatory, legal, and sustainability intelligence with Presight’s AI infrastructure and agentic AI capabilities. The aim is to develop systems tailored for high-stakes sectors of the financial ecosystem, enabling more advanced and context-aware approaches to governance and…

Shory, a digital insurance platform in the UAE, has entered into a strategic partnership with Wio Bank to offer users a more streamlined way to obtain car insurance directly through the Wio Personal app. The integration enables Wio users to purchase car insurance within the app in a few simple steps. Customers will also be able to split their payments into monthly instalments ranging from three to 48 months, aimed at improving affordability and payment flexibility. Aoun Al Smadi, CEO of Shory UAE, said: “This partnership with Wio represents a shared vision of making everyday financial decisions simpler and smarter.…

Digified, a Cairo-based digital identity provider, has received regulatory approval from Egypt’s Financial Regulatory Authority (FRA) to offer its AI-powered digital onboarding, eKYC, and e-contracting services to non-banking financial institutions (NBFIs) in the country. With this approval, companies in the lending, investment, and insurance sectors regulated by the FRA can now create digital IDs, conduct electronic know-your-customer (eKYC) processes, and sign contracts remotely, without the need for physical paperwork or signatures. These digitally signed contracts are recognised as legally binding in Egyptian courts, allowing fintech platforms to operate as formal digital branches. The company acknowledged the role of its partners…

F6 Group, a newly established entity combining venture capital and entrepreneurial support, has officially launched, comprising two key components: F6 Ventures, a newly formed seed-stage investment firm, and Flat6Labs, a well-established startup accelerator platform in the Middle East and Africa. The formation of F6 Group marks a development in a 14-year legacy, aiming to deliver more focused investment strategies, broader regional engagement, and enhanced support mechanisms for founders and ecosystems throughout the region. Central to this shift is the launch of F6 Ventures, the Group’s dedicated venture capital arm. With over US$90 million in assets under management across six funds…

Mastercard has partnered with Oman-based fintech firm Monak to introduce a digital financial services platform aimed at improving cross-border money transfers for migrant workers and streamlining wage disbursement and onboarding processes for employers. The initiative also seeks to lower the cost and complexity typically linked to basic financial services, supporting wider financial inclusion efforts. The platform responds to long-standing challenges faced by migrant workers, a group that has traditionally been underserved by formal financial systems. By offering tools for easier money transfers and expense management, often delayed by slow onboarding. this partnership aims to narrow access gaps and promote greater…

Alaan, a spend management platform for businesses in the Middle East, has secured US$48 million in a Series A funding round. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with notable participation from the founders of 885 Capital, Sudeep Ramnani and Jai Mahtani, as well as Y Combinator, 468 Capital, and Pioneer Fund. Support also came from regional and global operators, including Hosam Arab (Founder of Tabby), Mudassir Sheikha (Founder of Careem), Jeppe Rindom (Founder of Pleo), Khalid Al Ameri (Founder of KAM), Abdallah Abu-Sheikh (Founder of Astra Tech), Yi Wei Ang (Chief Product…

Tarabut, a Dubai-based open banking and embedded finance platform, has received in-principle approval from the Central Bank of the United Arab Emirates (CBUAE), following the introduction of the UAE’s Open Finance regulation. This development marks Tarabut’s third national regulatory license after Bahrain and Saudi Arabia and positions the company among the early movers in the region’s open finance sector. With this latest approval, Tarabut becomes the first fintech in the region to operate under Open Finance frameworks in all three major Gulf economies. The company provides the underlying infrastructure for financial institutions, lenders, insurers, and digital platforms to access and…

Backbase, a global provider of AI-powered banking technology, has announced the successful deployment of its digital platform at Libyan Islamic Bank (LIB). This marks Backbase’s first implementation in Libya. Libyan Islamic Bank, which has adopted a digital-first approach, collaborated with Backbase to establish a customer-centric operating model focused on speed, adaptability, and long-term relevance. “This is a proud moment for us. With Backbase, we are transforming banking for our customers, bringing financial services closer to them with the convenience, security, and accessibility of world-class digital banking,” said Mohamed Almabrok, Digital Banking Platform Project Manager at Libyan Islamic Bank. The bank’s…

Qatar Central Bank (QCB) has granted TrustIn Limited approval to join its fintech Regulatory Sandbox, supporting efforts to develop a modern, secure financial services landscape. TrustIn Limited is a UAE-based fintech company offering a digital escrow platform intended to facilitate secure and transparent transactions across various sectors. The platform seeks to build confidence in online business transactions while contributing to the broader digital transformation of Qatar’s economy, according to IBS Intelligence. With this approval, TrustIn Limited becomes an authorised participant in the fintech Sandbox, allowing it to test its services within a regulated, controlled environment under QCB supervision. Although sandbox…

Abu Dhabi Islamic Bank (ADIB) has launched a new real-time cross-border money transfer service called Remit! in partnership with Visa. The service, powered by Visa Direct, enables ADIB customers to send funds to over 11 billion cards, digital wallets, and bank accounts globally. According to both firms, ADIB is the first bank worldwide to offer such broad reach through a single platform. Remit! aims to provide individuals with a secure and efficient way to transfer money internationally in real time, supporting a range of purposes such as family assistance and personal needs. The partnership is part of Visa’s broader strategy…

Dubai Financial Market (DFM) has announced its consolidated financial results for the six months ending 30 June 2025, reporting a net profit before tax of AED 777.1 million, a 298% increase compared to the same period in 2024. The DFM General Index rose by 10.6% during the first half of the year, while total market capitalisation increased by 9.7% year-on-year to AED 995 billion. These gains were supported by local market strength and global interest in resilient, growth-oriented markets. Helal Saeed Al Marri, Chairman of DFM, said: “DFM delivered a positive performance in the first half of 2025, underpinned by…

Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council, Abu Dhabi Finance Week (ADFW) will return for its fourth edition from 8 to 11 December 2025. Organised by the ADGM, the international financial centre of Abu Dhabi, and headlined by ADQ, ADFW is set to expand significantly in scope and scale, with the upcoming edition expected to be twice the size of its predecessor. Centred on the theme ‘Engineering the Capital Network’, ADFW 2025 will explore the intersection of technological innovation and global finance.…

MIDBANK, a long-standing Egyptian financial institution, has completed a full overhaul of its core banking infrastructure, replacing its legacy systems with Temenos’ banking technology platform. The move marks a significant milestone in the bank’s broader digital transformation strategy, aimed at modernising operations and enhancing service delivery across the country. Following an extensive evaluation process, MIDBANK chose to implement a suite of Temenos solutions, including its Core Banking system, Payments Hub, Financial Crime Mitigation, and Data Hub. The bank adopted a “big bang” approach for the transition, decommissioning its previous systems and activating the new platform in a single step. Amr…

In preparation for the launch of the UAE’s national digital currency and in support of the country’s broader digital transformation efforts, the Central Bank of the UAE (CBUAE) has released a detailed report on the Digital Dirham project. The publication provides a comprehensive overview of the progress made to date, alongside ongoing research and development activities as the CBUAE moves closer to the formal introduction of a central bank digital currency (CBDC). The report outlines the design principles and policy frameworks underpinning the Digital Dirham, developed to ensure the currency is secure, reliable and user-friendly. These principles align with international…

The Central Bank of the UAE (CBUAE) has revoked the license of Gomti Exchange, an exchange house operating in the UAE, and removed its name from the Register, in accordance with Article (137) of Decretal Federal Law No. (14) of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. The revocation follows examinations conducted by the CBUAE, which uncovered “significant failures to comply with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and Sanctions framework.” In line with its supervisory and regulatory responsibilities, the CBUAE seeks to ensure that all…

The Central Bank of the UAE (CBUAE) has revoked the license of Al Nahdi Exchange and removed its name from the Register, in accordance with Article (137) of Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. The decision follows examinations conducted by the CBUAE, which identified major breaches in the Exchange House’s compliance with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and Sanctions framework. The CBUAE continues to carry out its supervisory and regulatory responsibilities to ensure that all exchange houses, their…