Starting Friday, 25 July, banks in the UAE will no longer send one-time passwords (OTPs) via SMS or email for any financial or electronic transactions, including both domestic and international transfers. The move follows new directives from the Central Bank of the UAE (CBUAE) aimed at strengthening the nation’s digital banking security framework, according to Expat Media. Instead of receiving OTPs through traditional channels, customers will now be required to authenticate transactions using their bank’s mobile application, through a feature known as Authentication via App. An official circular from the Central Bank reads: “In accordance with the directives issued by…

Wio Invest, a digital investment platform based in the UAE and owned by ADQ, has exceeded US$1 billion in Assets Under Administration (AUA) in under two years of operation. This milestone places the platform among the fastest-growing digital investment services globally, comparable to leading neobrokers at similar stages of development. The platform began by offering access to US markets and has since expanded to include UAE markets, virtual assets, and managed wealth portfolios, in response to the evolving needs of a new generation of investors seeking accessible and reliable financial tools. “This latest milestone reflects our commitment to reimagining everyday…

The Central Bank of the United Arab Emirates (CBUAE) and Presight, an AI and big data analytics company, have announced the establishment of a joint venture to support the CBUAE’s Financial Infrastructure Transformation (FIT) Programme. The initiative represents a key development in the UAE’s efforts to strengthen the resilience of its financial systems and integrate artificial intelligence across its financial ecosystem. The joint venture will deliver sovereign, AI-based technology platforms and services designed to support and improve the UAE’s financial market infrastructure. It will contribute to the development, upkeep, and technical support of key financial systems such as the Central…

Egypt’s Financial Regulatory Authority (FRA) has granted approvals to five companies to expand their operations within Egypt’s non-banking financial sector, Arab Finance reported. Among them is Digified, a registered outsourcing services provider, which received approval from the FRA’s fintech applications review committee to extend its business scope. The company is now authorised to offer digital contract execution for non-banking financial products, alongside services for the digital registration, preservation, and retrieval of data. The same committee also endorsed the establishment of three fintech startups – Nice Deer, Dayra, and iSupply. Meanwhile, VLens Company had its registration as an outsourcing services provider…

The Israel Securities Authority (ISA) has granted payment institution licenses to four international fintech firms: Revolut, Rapyd, Mesh Payments, and Airwallex. These licenses enable the firms to operate in Israel under regulated conditions. According to Calcalist, the licenses authorise the companies to provide services including money transfers, foreign currency exchange, digital wallet operations, and interest-bearing accounts. All services will be supervised by the Securities Authority, headed by Inbal Polk, Director of Investment Management. The decision aligns with the Authority’s broader strategy to promote competition in Israel’s financial services sector. While these companies currently have a limited presence in the country,…

Mashreq has appointed Xi Liang as its new Head of Artificial Intelligence, marking a key development in the bank’s ongoing investment in advanced technologies. In this role, Liang will be responsible for driving the bank’s AI strategy, with a focus on improving customer experience, operational efficiency, and overall competitiveness. Liang brings more than 15 years of cross-sector experience spanning banking, retail, healthcare, and consulting. Her background includes leadership positions at Judo Bank and Endeavour Group, advisory roles at McKinsey & Company, and research at IBM, where she was credited with four patents and published in peer-reviewed journals. Her work centres…

Kuwait’s Capital Markets Authority (CMA) has officially launched the country’s first securities-based crowdfunding service, marking a step towards diversifying investment channels and supporting financial inclusion. The CMA announced that Al-Mawazi Capital is the first firm to be registered in its securities-based financial technology services registry. The company is now authorised to offer a crowdfunding platform under the CMA’s regulatory framework, according to Arab Times. The initiative aligns with the CMA’s wider strategy to introduce international best practices and expand Kuwait’s capital markets through the integration of new financial technologies. The securities-based crowdfunding model enables businesses, particularly SMEs, to raise funds…

Qatar, a key player in the regional and global Islamic finance industry, is experiencing strong growth in its Islamic fintech sector. This momentum is projected to continue through 2028, with the industry expected to expand at an annual growth rate of 10%, according to a new report by Qatar Financial Centre (QFC) and the London Stock Exchange Group (LSEG). Qatar’s Islamic fintech transaction volume reached nearly QAR 10 billion (US$2.7 billion) in 2024, growing at a compound annual growth rate (CAGR) of 26% from QAR 3 billion (US$824 million) in 2020. Volumes are projected to reach QAR 16 billion (US$4.4…

BurjX, a digital asset trading platform founded in the UAE, has received Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) for brokerage and custody operations. With this approval, BurjX becomes a fully regulated platform offering trading in over 100 digital assets. This milestone positions it as one of the few platforms in the region licensed to provide both brokerage and custody services under ADGM’s virtual asset regulatory framework. Nearly one-third of the UAE population is projected to hold crypto assets within the next year, placing the country among the highest global adoption…

As implementation of emerging technologies accelerates, operational resilience, technology risk management, and adaptive oversight will be fundamental to maintaining stability in financial markets. Regulators and institutions must act to raise awareness of emerging threats, enhance readiness, and strengthen technology governance, global financial regulators and experts said during a closed-door meeting. The session, hosted by the Dubai Financial Services Authority (DFSA) at the Dubai Fintech Summit 2025 in May 2025, bought together 70 representatives from 18 financial regulatory authorities from across the globe, alongside senior experts from the Bank for International Settlements (BIS) Innovation Hub and the International Monetary Fund. These…

Javier Hidalgo is once again positioning Globalia—and its airline Air Europa—at the center of global aviation’s most strategic routes. The recent launch of the direct route between Madrid and Abu Dhabi, in partnership with Etihad Airways, not only strengthens commercial ties between Europe and the Gulf but also showcases the group’s long-term international strategy. “The opening of the Abu Dhabi route marks a milestone in Air Europa’s growth, both in terms of connectivity and global positioning,” said Javier Hidalgo, CEO of Globalia. A strategic bridge with Etihad Airways On June 25, 2025, Air Europa and Etihad Airways officially launched their…

Yasmina, an embedded insurance platform based in Riyadh, has raised US$2 million in Seed funding. The round was led by Scene Holding, co-led by Access Bridge Ventures, with participation from Arzan VC and the Sanabil Investment Accelerator by 500 MENA. Founded in 2023 by Masoud Alhelou and Bashar Abalkhail, Yasmina provides API-based insurance solutions that integrate directly into digital platforms. The company enables businesses to offer personalised insurance at checkout within 48 hours, backed by full regulatory approval. Since its launch, Yasmina has formed partnerships across sectors including human resources, automotive, travel, point-of-sale, and real estate. These collaborations are expected…

The Financial Services Regulatory Authority (FSRA) of ADGM has signed a MoU with the Central Bank of the Republic of Azerbaijan to enhance collaboration in financial technologies, capital markets, and related areas. The agreement enables both authorities to exchange information and expertise, conduct joint training sessions, collaborate on research initiatives, and facilitate study visits. Emmanuel Givanakis, CEO of the FSRA at ADGM, stated: “The signing of this MoU marks an important step in fostering collaboration between ADGM’s FSRA and the Central Bank of the Republic of Azerbaijan. By formalising our cooperation, we create a strong foundation for sharing knowledge and…

The Dubai Chamber of Digital Economy and Dubai Finance (DOF) have signed a MoU to support the implementation of the Dubai Cashless Strategy. The agreement focuses on the strategy’s three key areas: governance, innovation, and the transition towards a cashless society. “This MoU with the Dubai Chamber of Digital Economy represents an important step towards unifying efforts and strengthening partnerships among government entities to achieve the objectives of the Dubai Cashless Strategy,” said Abdulrahman Saleh Al Saleh, Director General of Dubai Finance. “Our collaboration with the Dubai Chamber of Digital Economy reflects our shared commitment to supporting innovation, enhancing governance,…

Trendyol Group, Türkiye’s e-commerce platform; Haluk Bayraktar, CEO of Baykar, the world’s largest unmanned aerial vehicle manufacturer; ADQ, a sovereign investment group focused on critical infrastructure and global supply chains; and Ant International, a global provider of digital payments and financial technology, have signed a MoU to explore the establishment of a strategic venture aimed at developing a next-generation fintech platform for Türkiye. Subject to approval by the relevant regulatory authorities, the proposed venture seeks to offer a wide range of integrated financial services, including digital payments, retail and SME loans, deposits, investment products, and insurance. Leveraging the combined expertise…

Telr, a digital payment gateway and financial solutions provider based in Dubai, has announced a partnership with Dubai-based fintech company Peko to introduce Telr Incepta, an all-in-one platform aimed at supporting business setup and operations in the UAE. The platform is designed to assist SMEs by integrating a range of tools and services that facilitate financial and operational management. Telr Incepta offers an integrated ecosystem with over 50 business services, providing features that include company formation, bill payments, human resources tools, corporate travel arrangements, eSIM services, software subscriptions, license renewals, WhatsApp for Business integration, and automated financial reporting. The platform…

Paymentology, a global issuer-processor based in the UK, has announced the opening of its new and expanded office in Dubai. The relocation comes in response to growing demand for scalable payment infrastructure and a steadily increasing regional client base. The Dubai office will now serve as a strategic centre for delivery, operations, and collaboration, supporting a range of digital banks and fintechs across the region. Among Paymentology’s clients and partners are institutions such as Wio, Mamo, Mawarid Finance, and Zand. Jeff Parker, CEO of Paymentology, said: “The Middle East has reached an inflection point. We’re seeing governments prioritise financial innovation,…

TheBlock., the international chamber for virtual assets, has released its latest Impact and Performance Report, outlining steady growth in scale, influence, and engagement across the virtual asset sector. The organisation currently supports an active project pipeline valued at over US$11.2 billion, with 230 initiatives under its Chamber and more than 170 events projected globally this year. Headquartered in Dubai across two key venues, One Central and the Dubai World Trade Centre, TheBlock. oversees more than 15,000 square feet of permanent exhibition and workspace. These locations attract over 3.6 million visitors annually. One Central, often described as the “Wall Street of…

International Holding Company (IHC), a global investment firm based in Abu Dhabi, has announced the completion of its acquisition of eFunder, a private financing platform in the UAE that focuses on SMEs. The platform has been rebranded as Zelo, signalling a new phase aimed at expanding its reach and improving access to capital for businesses across the region. Zelo is fully licensed and regulated by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM). Since its launch in August 2020, it has provided receivables-based funding to address the persistent working capital challenges faced by SMEs in the…

Eazy Financial Services (EazyPay), a Bahraini financial institution focused on Point-of-Sale (POS) and online payment gateway acquiring services, has entered into a partnership with Tamara, a Buy Now, Pay Later (BNPL) provider in the Gulf Cooperation Council (GCC). Under the agreement, EazyPay will act as Tamara’s local acquirer and offer its payment gateway infrastructure to support transactions across Tamara’s merchant network in Bahrain. Financial terms of the partnership were not disclosed. The collaboration aims to streamline digital payments and enhance transaction efficiency and security. Nayef Tawfiq Al Alawi, Founder and CEO of EazyPay, said: “Tamara has rapidly become a key…