First Abu Dhabi Bank (FAB) has signed a memorandum of understanding (MOU) with Seviora Holdings. The agreement sets up a strategic partnership between the bank and Temasek’s main asset management arm. Under the MOU, the two firms will seek new ways to invest, including joint deals known as co-investments. Each firm will bring its own skills, networks and resources. In addition, both plan to share knowledge and best practices. FAB will also look at offering strategies run by Seviora and its group firms to its wealth clients. If it goes ahead, these clients would have more investment choices. “Seviora’s MOU…

Agentic commerce is still emerging in the Middle East, yet interest is rising at a fast pace, according to research by Fast Company Middle East, Visa and Probity. Organizations are preparing to adopt new commerce tools, and most plan to spend up to US$1 million on AI within the next 24 months. The new study, which polled senior leaders in retail, consumer products, travel and hospitality, and financial services across the United Arab Emirates (UAE), Egypt and Saudi Arabia, found that a small but notable 2.4% of Egyptian organizations have already deployed autonomous purchasing capabilities, including auto-reordering and autonomous purchases,…

Invest Qatar has entered into a memorandum of understanding (MoU) with Aurion Capital and LG NOVA to explore technology investment in Qatar. Aurion Capital is a global investment group, while LG NOVA is LG Electronics’ innovation centre in North America. The deal covers innovation programmes and support for companies in high-growth sectors. These include AI, digital health and fintech, as well as digital infrastructure, sports, media and entertainment. The partners also expect a new hub at Qatar Science & Technology Park (QSTP). It would serve as a regional base for ventures linked to LG NOVA. The hub would connect innovators…

Microsoft plans to invest more than US$10 billion in the Middle East by 2030. The sum covers both capital and running costs. The investment falls under a new plan that starts with Kuwait, Qatar, Saudi Arabia and the UAE. It centres on adding cloud and AI capacity in a region where Microsoft has operated since 1991. Over the same period, the company is putting more than US$400 million into subsea and land cables. More routes mean data can keep flowing if one link is cut. On AI, Microsoft will deepen its ties with governments and national AI champions such as…

Jordan’s Bank al Etihad has signed a Memorandum of Understanding (MoU) to set up a new bank in Abu Dhabi Global Market (ADGM). The deal paves the way for the lender to enter the UAE market. Its partners in the venture are Ethmar International Holding (EIH), an Abu Dhabi-based institutional investment holding group, and other UAE-based investors. If completed, the move would extend Bank al Etihad’s presence beyond Jordan and Iraq. Under the proposal, the new bank would hold a Category 1 banking licence in ADGM. It would serve regional and international clients, as well as companies doing business in…

Oman has launched a National Fintech Strategy alongside the Oman Fintech Gate, a platform designed to help fintech firms enter the local market. Led by the Central Bank of Oman (CBO), the Oman fintech strategy sets out a single national roadmap and was developed with the Financial Services Authority (FSA) and the Ministry of Finance’s Estidama programme. Several other government bodies, including Invest Oman, also contributed. While the CBO will oversee implementation, each participating authority keeps its own regulatory mandate, and a governance framework will track progress and accountability. The strategy’s goals include creating a proportionate regulatory environment for secure,…

Crypto exchange Bybit has launched a global brand campaign, “Make Your Move”. This launch marks its next step beyond crypto trading. Under its new positioning, the firm is developing one platform for crypto, stocks, gold, forex, indices and derivatives. Payments, spending, wealth and services for institutions are also part of this platform. According to the firm, this shift builds on a vision Co-founder and CEO Ben Zhou set out in a January keynote. “Bybit has evolved considerably since we began as a crypto derivatives trading exchange, and our brand needs to reflect the business we are building today,” said Zhou.…

FinTra Holding’s Universal Payment Network (UPN) has launched a consortium that lets banks, wallets and other payment firms help steer the network, according to a press release on Wamda. Unveiled at Money20/20 Middle East in Riyadh, the UPN Consortium gives members a say in the network’s strategy, roadmap and pricing principles. Dr Waleed Sadek, Founder and CEO of FinTra Holding, said many payment systems still run on their own tech, business and settlement setups. This makes them hard to link and slows firms entering new markets. He also said UPN was designed to tackle this by acting as a neutral…

Huspy has acquired Italian credit intermediary Integra Finance, marking its entry into Italy. The Dubai-founded proptech plans to invest US$86 million (AED315 million) in the country. That investment will go towards building a mortgage finance and real estate business. Neither company disclosed the financial terms of the deal. Founded in 2020, Integra Finance serves individuals, professionals and businesses. Its products include mortgages, personal loans, corporate financing, and salary- and pension-backed loans. More than 160 advisors work across its network, alongside over 50 banking, financial and insurance partners. Through its subsidiary Bicher, Integra also provides insurance services. Under the plan, Huspy…

The Central Bank of the UAE (CBUAE) has directed all Bank Melli Iran branches operating in the UAE to stop any financial transactions to and from Iran, including trade finance and fund transfers. According to the regulator, the enforcement measures result from violations related to non-compliance with the regulations, laws and supervisory decisions applicable in the UAE. These include requirements and obligations under legislation on combating money laundering, the financing of terrorism and proliferation financing. The CBUAE imposed the measures in accordance with Article 168-1-C of Federal Decree-Law No. 6 of 2025 regarding the Central Bank, Regulation of Financial Institutions…

Saudi Arabia has emerged as one of the fastest-growing data center markets in the world, ranking third globally in annual operating IT capacity growth, according to a new research by Savills. Between 2024 and 2026, Saudi Arabia’s active computing power at data centers rose about 23% annually, matching Finland but behind Malaysia at 50%, and Indonesia at 27%. These countries are part of a new wave of high-growth markets for data centers, with Malaysia standing out for its substantial build-out from a very low 2020 base. Data center capacity in Malaysia is expected to reach about 2 gigawatts (GW) by…

Qatar Investment Authority (QIA) and J.P. Morgan Asset Management (JPMAM) a memorandum of understanding (MoU) to set up a US$20 billion strategic partnership. The QIA J.P. Morgan partnership covers public and private markets in both equities and credit. It starts with two initial areas of collaboration. The larger part is a US$15 billion public equities mandate. JPMAM will manage tailored global equity portfolios for QIA, using its active equity capabilities, investment platform and research to support the fund’s long-term investment goals. The partnership also includes a US$5 billion private markets initiative aimed at established middle-market companies in the US. Through…

PhonePe has received in-principle approval from the Central Bank of the UAE (CBUAE) for two payment licences. The licences cover Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF). The approval came after the regulator completed its initial checks. PhonePe still needs final approval before it can start doing business in the UAE. PhonePe said its UAE plans were inspired by the country’s Financial Infrastructure Transformation (FIT) programme. It also pointed to the UAE’s regulations and digital economy as reasons for its choice. Once it gets final approval, PhonePe plans to work with regional banks, licensed payment…

Apex Group has signed a deal with Invest Qatar to grow in the country. As part of the plan, the fund services firm will open a regional office on Lusail Boulevard, in Qatar’s emerging financial hub. Invest Qatar is the country’s investment promotion agency. Both sides unveiled the deal in New York, at a special Qatar Economic Forum held during the 2026 UN General Assembly. After receiving a licence from the Qatar Financial Centre, the firm entered Qatar earlier this year. It has more than US$3.5 trillion in assets under administration. The expansion is expected to create skilled jobs in…

Qatar has launched Doha Investment, a new platform to manage Qatar Investment Authority’s domestic portfolio. The platform includes more than 40 companies operating in over 80 markets, among them QNB Group, Qatar Airways Group and Ooredoo Group. Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani chairs Doha Investment. He announced the platform at the Qatar Economic Forum in New York. “It will support our strongest companies, help emerging businesses grow, deepen capital markets and attract international capital and expertise to contribute to this effort,” he said. Doha Investment’s portfolio spans financial services,…

Paymob has raised US$35 million in a pre-Series C round, co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development. British International Investment, Global Ventures and DPI Ventures also took part. The company will use the funds to expand its payments acceptance business across the Middle East and North Africa. It will also develop new products for SME merchants, including tools for agentic commerce, payments initiated by AI agents on a user’s behalf. Paymob received a Retail Payment Services Licence from the Central Bank of the UAE in January 2025. Since then, it has onboarded around 20,000…

The Saudi Central Bank (SAMA) has stepped away from mBridge, a China-led system for settling cross-border payments in digital currencies. It confirmed the exit to the Financial Times. SAMA described the move as a step the bank had planned from the outset. This marks the first public confirmation of a withdrawal that took place last year. SAMA’s relationship with mBridge dates back to 2023, when it held observer status under the Bank for International Settlements (BIS). The bank moved into full membership the following year, working alongside China, Hong Kong, Thailand and the UAE. By 13 May 2025, it had…

As of late-September 2026, the Middle East was home to nine fintech unicorns, encompassing buy now, pay later (BNPL) champions Tabby and Tamara, Egyptian super-app MNT-Halan, and digital bank STC Bank, according to Multiples, Dealroom, CB Insights, and company announcements. These companies, which boast a combined valuation of US$17.75 billion, represent some of the region’s biggest and fast-growing fintech players. They’ve recorded remarkable growth and traction, and are now prioritizing geographic expansion, new product launches, and strategic partnerships to drive further innovation. The 9 Fintech Unicorn from Middle East Tabby – US$6.5 billion Tabby is a BNPL platform operating…

Lendo has partnered with Vienna-based Quantic Financial Solutions GmbH for an institutional capital program of up to SAR 750 million (US$200 million). The Austrian asset manager will fund working capital financing for small and medium enterprises across Saudi Arabia. The companies announced the agreement at the Money20/20 Middle East conference. Lendo is a Shariah-compliant debt crowdfunding marketplace regulated by the Saudi Central Bank. Quantic is an asset management fund that channels foreign investment into the Kingdom, and will oversee how the capital is deployed, following Lendo’s financing strategy. Lendo plans to use the program to expand SME working capital financing…

Citi has partnered with Mastercard to launch a subscription management tool in the UAE. The feature lets cardholders track and manage recurring payments through the mobile banking app. The tool brings together all active digital subscriptions in one place, covering services such as streaming platforms and food delivery apps. It runs on Ethoca, a Mastercard-owned technology unit. Ethoca also provides itemised digital receipts, helping cardholders see which merchant is billing them for a subscription. For merchants, Mastercard says the tool can reduce chargebacks and cut down on unnecessary payment stops linked to subscription billing. “The introduction of our Smart Subscriptions…