Fintech is rapidly becoming one of the fastest-growing technology sectors in the Middle East and Cyprus. According to global consultancy Deloitte, seven fintech companies are among the top 50 fastest-growing tech firms in the region, reflecting the sector’s rising prominence and contribution to the tech ecosystem, and highlighting the strong demand for digital financial services. These companies span verticals including insurtech, digital lending, and digital payments, and represent regional fintech hubs including Saudi Arabia, Egypt and the United Arab Emirates (UAE). They earned their rankings on the top 50 fastest-growing tech companies list based on revenue growth over the past…

Bybit, currently the world’s second largest cryptocurrency exchange by trading volume, is expanding its presence in MENA through a series of partnerships aimed at bridging Web2 and Web3 applications. Based in Dubai, the company is rolling out a campaign that integrates cryptocurrency into everyday services. In this initiative, crypto is being introduced across a range of sectors including gaming, entertainment, sports, dining, and transportation. Bybit is collaborating with local businesses and platforms to enable payments and benefits through its ecosystem, aiming to make the use of digital assets as practical and accessible as conventional methods. As part of the campaign…

Eazy Financial Services (EazyPay) has introduced Mastercard Receivables Manager in Bahrain, becoming the first acquirer in the country to adopt the solution. The tool is designed to support businesses by streamlining virtual card payment processing. Mastercard Receivables Manager allows EazyPay to help merchants automate their business-to-business (B2B) virtual card receivables. The solution removes the need for manual handling, aiming to improve operational efficiency, working capital, and cash flow. It requires minimal integration and no application programming interface (API) setup. The platform captures virtual card payments, processes them end-to-end, and transmits remittance data directly into merchants’ accounting systems. “EazyPay supports businesses…

The Financial Services Regulatory Authority (FSRA) of ADGM has announced the implementation of amendments to its regulatory framework concerning cyber risk management for Authorised Persons and Recognised Bodies. The updated requirements will take effect from 31 January 2026. The changes follow a consultation period and industry engagement stemming from Consultation Paper No. 3 of 2025. The amendments require firms to embed cyber risk considerations into their broader risk management frameworks. These revisions build on existing guidance, including the FSRA’s Information Technology Risk Management Guidance and Governance Principles and Practices to Mitigate Cyber Threats and Crime. According to the FSRA, feedback…

Jeel, the digital innovation arm of Riyad Bank, has signed a MoU with Dubai-based zypl.ai, a specialist in synthetic data generation and AI-powered risk analytics. The agreement sets out a collaborative framework to support the adoption of advanced data technologies, AI, and payment solutions aimed at developing customer-centric digital financial platforms in Saudi Arabia. Central to the partnership is zypl.ai’s proprietary zGAN technology, an “outlier-aware” synthetic data generator that produces privacy-preserving datasets capable of stress-testing financial models under extreme market conditions. Combined with zypl.ai’s suite of AI risk-scoring tools, the technology is expected to enhance credit decision-making, accelerate model development…

Travellers using UAE-issued credit and debit cards overseas will soon face higher costs, as banks across the country prepare to increase the foreign transaction fee to 3.14% starting 22 September 2025. The revised fee will apply to all international purchases and ATM withdrawals. As reported by Time Out Dubai, the new total fee includes a 1% currency conversion charge by global card networks such as Visa, Mastercard, or American Express, alongside a 2.14% bank processing fee. This marks a significant jump from the current 2.09%. The adjustment affects any foreign transaction, including online purchases from international merchants and payments made…

Tabadulat Limited (Tabadulat), a Shariah-compliant investing platform based in the UAE and registered with ADGM, has received In-Principle Approval from ADGM’s Financial Services Regulatory Authority (FSRA). This development comes shortly after the UAE Cabinet approved the country’s National Strategy for Islamic Finance and the Halal Industry on May 6. The strategy aims to strengthen the UAE’s position in Islamic finance, promote sector-wide activity, and support leadership in sustainable finance. Tabadulat, which is currently in the process of obtaining its Financial Services Permission, has secured a committed investment of US$2.3 million. The platform seeks to address longstanding challenges faced by Muslim…

Dubai Islamic Bank (DIB) has completed a notable aircraft financing transaction with Turkish Airlines, the national flag carrier of Türkiye. The deal marks the airline’s first use of Islamic finance and represents a broader shift towards incorporating Shariah-compliant structures in the aviation sector. Structured as a 12-year Islamic lease (Ijarah), the transaction supports the acquisition of a new Airbus A350-941, now part of the Turkish Airlines fleet. DIB acted as the financier, with the deal forming part of the airline’s ongoing strategy to diversify its funding sources. The agreement highlights the increasing role of Islamic finance in complex cross-border transactions.…

CE-Ventures, the corporate venture capital arm of UAE-based Crescent Enterprises, has announced investments in Plaid and Mesh, two companies developing infrastructure for the next generation of financial services. The investments reflect CE-Ventures’ view that finance is evolving toward systems that are open, programmable, and increasingly crypto-native, with long-term value likely to come from companies building core data and connectivity infrastructure. Plaid and Mesh, both based in Silicon Valley, address different aspects of financial interoperability. Plaid focuses on data infrastructure that links financial institutions with fintech applications, while Mesh is building tools for seamless movement of digital assets. Plaid recently raised…

Visa has released a new report titled Value of Acceptance: Understanding the Digital Payment Landscape in Egypt, which outlines the growing momentum for digital payments among SMEs in the country. According to the report, more than half (53%) of surveyed merchants have introduced digital payments in the past two years, while 55% of cash-only businesses are considering adoption. Satisfaction levels are high among those already using digital payment systems: over 80% report being content with card acceptance, more than three-quarters say it has positively impacted revenue, and two-thirds note an increase in footfall. Egyptian SMEs are also expressing interest in…

Lean Technologies, a financial infrastructure provider based in the MENA region, has received In-Principle Approval (IPA) from the Central Bank of the UAE under the country’s new Open Finance Framework. The IPA positions Lean as one of the first companies to offer regulated Open Finance services in the UAE, advancing its path toward full licensing. The approval comes as demand grows for faster, more transparent, and personalised financial services. Open Finance enables users to make payments, access credit, and manage finances through connected systems. Lean’s infrastructure aims to support this shift by offering features such as instant account-to-account payments, quicker…

Presight, a global provider of AI and big data analytics solutions, has signed a cooperation agreement with the Abu Dhabi Police General Headquarters (GHQ) to support the development and deployment of AI technologies in policing. The agreement outlines joint efforts to use artificial intelligence to enhance law enforcement capabilities, improve public safety, and contribute to the development of intelligent urban infrastructure. The partnership will see Presight’s AI-Policing Suite integrated with Abu Dhabi Police operations. The suite is a modular platform that incorporates generative AI, AI agents, and advanced data analytics, designed to support policing and the wider development of smart…

Dubai International Financial Centre (DIFC) recorded its strongest first-half results to date, with continued growth across financial and innovation sectors, as well as increased participation from new companies and institutions. Between January and June 2025, a total of 1,081 new companies joined DIFC, representing a 32% increase compared to the same period in 2024. The total number of active firms now stands at 7,700. The increase reflects growing interest in Dubai and the DIFC as a base for regional and international operations. The number of firms regulated by the Dubai Financial Services Authority (DFSA) has reached 980. DIFC remains the…

Startup funding in the Middle East and North Africa (MENA) reached US$2.1 billion during the first half of 2025, with 334 deals recorded across the region. This marks a 134% increase compared to the same period in 2024. While part of the growth was driven by an increase in debt-based financing, the figures reflect a notable level of investor activity amid persistent regional uncertainty. The second quarter ended with US$583.4 million invested across 149 deals, surpassing both the value and volume recorded in Q2 2024. Despite a slowdown in June, the quarter’s performance indicated continued investor appetite for regional startups.…

The Dubai Land Department (DLD) has signed a memorandum of cooperation with Emirates NBD, a major banking group in the Middle East, North Africa and Turkey (MENAT) region. The agreement sets out a joint framework for regulatory and technical studies aimed at improving real estate transaction registration processes and strengthening the overall efficiency of the sector. The partnership includes two studies. The first will explore ways to optimise the registration process for real estate transactions completed outside the UAE. The second will focus on the development of financial services that can support the registration of real estate sales. These efforts…

The Central Bank of the United Arab Emirates (CBUAE) and Mercury, a UAE-based fintech firm specialising in payments infrastructure and services, have announced the establishment of a joint venture, Unitey Business Services. The initiative is aimed at supporting the CBUAE’s Financial Infrastructure Transformation (FIT) programme by strengthening the operations of the UAE’s national financial market infrastructure and enhancing efficiency, resilience and business continuity across systems and platforms. The partnership aligns the CBUAE’s strategic vision with Mercury’s technical expertise, forming a public-private collaboration that reinforces the central bank’s commitment to maintaining national oversight of critical financial systems. Commenting on the agreement,…

Dow Jones has named Anand Joawn as General Manager, Middle East, a newly created role aimed at supporting the company’s ongoing expansion in the region. In this position, Joawn will oversee Dow Jones’s commercial strategy and operations across the Middle East. He will be responsible for strengthening the company’s regional presence and leading efforts to invest in local talent, partnerships, and platforms aligned with growing demand for reliable business intelligence. Joawn will report to Chief Revenue Officer Josh Stinchcomb. Joawn brings nearly 20 years of experience across the Middle East, having held senior roles at the London Stock Exchange Group…

The Financial Services Regulatory Authority (FSRA) of ADGM has released its 2024 Annual Report, detailing key regulatory developments and reaffirming its role in maintaining a high-standard regulatory environment for financial services. The report outlines the FSRA’s continued efforts throughout the year to ensure its framework remains consistent with international standards, with a particular emphasis on financial crime prevention. Notable progress was made in areas such as digital asset regulation, supervisory alignment, and institutional transparency. A significant development in 2024 was the introduction of a dedicated regulatory framework for fiat-referenced tokens (FRTs), a category of stablecoins. The framework outlines specific requirements…

Qlub, a restaurant payment solution based Dubai, has raised US$30 million in a funding round to support its international expansion. The round was co-led by Shorooq Partners and Cherry Ventures, with participation from strategic backers including e&, Mubadala Investments, and Legend Capital. Launched in 2021 by Eyad Alkassar and Mahmoud Fouz, Qlub has become widely used across Dubai’s dining scene. The platform enables customers to scan a QR code to browse menus, place orders, and pay directly from their smartphones, removing the need for physical menus and traditional payment methods. This technology aims to streamline restaurant operations and improve the…

United Arab Bank (UAB) has entered into a partnership with Lune, a UAE-based fintech company specialising in AI-driven transaction enrichment and financial data analytics. The collaboration aims to support UAB’s upcoming mobile banking platform by enabling data-driven and personalised customer experiences. Through Lune’s technology, UAB will convert raw transaction data into clearer financial insights via a simplified interface. The solution is intended to enhance transparency and support customers in making informed financial decisions. Features will include personalised recommendations, contextual offers, and financial planning tools delivered through conversational interfaces. Commenting on the partnership,  , Head of Retail Banking at UAB, said:…