Emerging technologies are playing a significant role in MENA’s economic transformation, with the region frequently cited as one of the most proactive globally in adopting and exploring new digital solutions, according to Checkout.com’s fifth annual MENA report, The State of Digital Commerce in MENA 2025 – Trends that matter: Insights into changing consumer behaviour. The report examines how efforts from central banks, regulators, fintech firms, and merchants, alongside a predominantly digital-native population, have accelerated digital adoption. It provides data-driven insights intended for merchants, regulators, and other stakeholders looking to understand and engage with MENA’s shifting commerce landscape. Online shopping in…

areeba, a UAE-based provider of payment infrastructure, has entered into a partnership with FOO, a fintech solutions company headquartered in Dubai, to offer a comprehensive, integrated Card-as-a-Service (CaaS) programme aimed at banks and financial technology firms. The bundled service is designed to help institutions develop and scale secure card programmes and digital wallets without the need for building complex infrastructure. It combines areeba’s modern card issuance platform with FOO’s digital banking capabilities, offering features such as secure digital onboarding, electronic know-your-customer (e-KYC) processes, and tokenisation support for Apple Pay and Google Pay. According to the companies, the solution allows financial…

Google has announced the launch of its second “Google for Startups Accelerator: AI First” programme for the Middle East, North Africa, and Türkiye (MENA-T). The 12-week, equity-free initiative is aimed at supporting promising Seed to Series A startups that are developing AI solutions, offering access to infrastructure, tools, and expert guidance to help scale their technologies. The MENA-T region is increasingly being recognised as a growing centre for AI innovation, with broad applications across a range of industries. According to PwC, AI could contribute up to US$15.7 trillion to the global economy by 2030. McKinsey estimates that Gulf Cooperation Council…

First Abu Dhabi Bank (FAB) has become the first in the MENA region to pilot an embedded finance and payments solution developed in partnership with Oracle and Mastercard. The collaboration aims to modernise business-to-business (B2B) finance and payments processes for FAB’s corporate clients by integrating Mastercard’s virtual card platform directly into Oracle Fusion Cloud Enterprise Resource Planning (ERP) software. The solution addresses long-standing challenges in commercial payments, such as fragmented systems, manual processes, and lack of data visibility, by offering a more streamlined and automated approach without the need for complex technology overhauls. Through this partnership, FAB’s clients stand to…

EQIQ, a venture capital fund and venture builder based in Abu Dhabi Global Market (ADGM), is expanding its fund size from US$15 million to US$30 million. Founded by partners with experience deploying over US$500 million in technology startups and delivering a 3.3x return, EQIQ focuses on both greenfield (seeding new ventures) and brownfield (scaling established startups) investments in Iraq’s technology sector. The firm concentrates on developing integrated solutions across e-commerce, logistics, and fintech, with the aim of addressing structural gaps and delivering services to a wide user base. The fund was established by Mohamed Al-Hakim, a serial entrepreneur who began…

The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), has opened applications for its 2025 Graduate Programme. The initiative is part of the DFSA’s continued efforts to support the development of Emirati professionals in the financial services sector. The Graduate Programme is aimed at high-potential UAE National graduates, offering structured training to prepare them for roles in financial regulation and services. Running since 2006, the programme has supported the career growth of numerous Emiratis, many of whom now hold senior roles across the UAE’s financial and government institutions. Fadel Al Ali, Chairman of…

In a move to support MSMEs in the UAE, Emirates Development Bank (EDB) and RAKBANK have launched a joint financing initiative worth AED 1 billion. Announced during the Make it in the Emirates Forum at the ADNEC Centre in Abu Dhabi, the programme aims to improve access to funding for businesses in key national sectors. The co-financing arrangement, with AED 500 million contributed by each institution, is among the region’s largest mSME-focused lending efforts. Funds will be made available through RAKBANK to provide customised financing solutions for enterprises operating in priority areas such as manufacturing, advanced technology, food security, renewable…

Turkcell, a digital services and telecommunications company based in Türkiye, has announced that its subsidiary, TDC Veri Hizmetleri (TDC), has secured €100 million in murabaha financing through an agreement with Emirates NBD Bank. The five-year financing facility is intended to support Turkcell Group’s data centre investments through TDC, advance its digital infrastructure initiatives, and align with its long-term strategic plans. The murabaha-based financing, which complies with Islamic finance principles, represents a step forward in TDC’s efforts to strengthen its position in the data centre and cloud services sector. Turkcell’s broader strategy includes the development of high-capacity and environmentally sustainable data…

The State Bank of Pakistan (SBP) has issued comprehensive Guidelines for the Regulatory Sandbox (RSB) under Section 3 of the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007. These guidelines are designed to provide a controlled regulatory environment for both new and existing entities, including startups, to test cutting-edge financial solutions. The RSB initiative will adopt a cohort-based approach, centered around specific innovative themes, allowing participants to trial their products and operational models in a real-world but supervised setting. The SBP is currently engaged in market consultations and is set to announce the theme(s) for its first RSB cohort…

Bitcoin Suisse, a Swiss crypto financial services provider, has announced that its subsidiary, BTCS (Middle East), has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This development is part of Bitcoin Suisse’s ongoing international expansion and will allow the firm to move toward obtaining full authorisation to operate within ADGM. Upon securing full licensing, BTCS (Middle East) Ltd. will be permitted to offer regulated crypto financial services in Abu Dhabi, including virtual asset trading, crypto securities and derivatives, as well as local custody services. ADGM is recognised for its advanced…

CARITech, a digital transformation consultancy based in Egypt, has formed a strategic partnership with global financial software provider Finastra to support the adoption of the Finastra Essence core banking platform across the Middle East and Africa. The partnership combines CARITech’s regional experience and implementation capabilities with Finastra’s technology to facilitate core banking transformation for financial institutions. As part of the agreement, CARITech will use its Capability Maturity Model Integration (CMMI) Level 3-certified methodology to deliver structured and efficient deployments of Finastra Essence. With a bilingual Arabic and English team and a strong understanding of local banking environments, CARITech is positioned…

In Q1 2025, fintech startups dominated venture capital (VC) activity in the Middle East and North Africa (MENA), raising the three largest transactions of the quarter, according to new data released by Magnitt, a data and intelligence platform tracking venture capital (VC) and private equity across the Middle East. This trend underscores the sector’s continued momentum and growing maturity, as high-growth fintechs broaden their offerings, expand into new markets, and position themselves for future public listings. Tabby: building a broad fintech ecosystem Tabby, a leading buy now, pay later (BNPL) platform and shopping app in the region, secured the largest…

Thndr, a Cairo-based digital investment platform, has raised US$15.7 million in new funding to support its regional expansion across the Middle East and North Africa. The round was led by Prosus Ventures, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, as well as a major US university endowment. This brings Thndr’s total funding to US$37.76 million since its founding in 2020. Founded by Ahmad Hammouda and Seif Amr, Thndr allows users in the region to invest in local and international stocks, mutual funds, bonds, and other financial products through a mobile-based platform designed to…

Oil is popular among retail investors, especially during uncertain times when news can seriously shake its price. Traditionally, traders would open a futures account or buy energy ETFs to gain exposure but modern technologies including smartphones make the process much easier and comfortable. As tokenization platforms were introduced, retail traders now face lowered barriers. Modern platforms such as MT4, MT5, cTrader, TradingView, and others all support oil and other energy trading. What’s more exciting is CFDs on oil enable traders instant execution, low spreads, and high leverage to maximize profits.  Let’s analyze the best platforms to trade oil and also…

Klickl, a regulated Web3 financial services provider, has signed a tripartite MoU with WeBank, a digital bank from Mainland China, and Goldford Group, an innovation-focused conglomerate in Hong Kong. The agreement sets out to create a cross-regional fintech innovation alliance connecting Mainland China, Hong Kong, and the Middle East. The MoU was signed during an official visit to Qatar by a delegation from Hong Kong and Mainland China, led by Hong Kong Chief Executive John Lee. This collaboration represents the first structured initiative linking fintech ecosystems across the Greater Bay Area and the Middle East. Klickl contributes its regulatory knowledge…

Ripple has announced two new partnerships in the UAE for its Ripple Payments service. The cross-border payments platform, which uses blockchain technology and a network of global payout partners, will now be used by Zand Bank and Mamo. The development follows Ripple’s recent approval by the Dubai Financial Services Authority (DFSA), making it the first blockchain-based payments firm to be licensed by the regulator. The DFSA license enables Ripple to offer end-to-end payment services in and out of the UAE, operating continuously and settling transactions within minutes. “With the DFSA license, Ripple can address inefficiencies in traditional cross-border payments, including…

Emirates Development Bank has launched the Emirates Growth Fund (EGF), a AED 1 billion growth equity platform aimed at supporting the expansion and competitiveness of SMEs based in the UAE. The fund was introduced during the fourth edition of the Make it in the Emirates Forum. It is designed to provide long-term capital and strategic support to high-potential businesses operating in sectors such as manufacturing, food security, healthcare, and advanced technology. The initiative forms part of the country’s broader Operation 300bn strategy, which seeks to increase the contribution of the industrial sector to AED 300 billion by 2031. The Emirates…

Mashreq has launched its next-generation API Marketplace, a platform aimed at providing corporate clients, developers, and fintechs with access to Mashreq’s suite of APIs. APIs, or Application Programming Interfaces, are technical tools that enable data exchange between systems, streamlining how businesses handle payments, receivables, and liquidity. The platform offers real-time visibility into cash positions and transactions. “The API Marketplace is a key pillar in our broader digital strategy,” said Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq. “At Mashreq, we are committed to driving the future of open banking and digital transformation through APIs. Our new…

Lalamove, the Hong Kong-based on-demand delivery platform, has officially commenced operations in the UAE, marking its entry into the 14th market globally. This expansion strengthens its presence in the EMEA (Europe, the Middle East, and Africa) region, with full service now available across Dubai and delivery drop-offs in Sharjah and Abu Dhabi. Founded in 2013, Lalamove uses technology to connect users with driver partners and vehicles on demand. The company’s entry into the UAE comes as SMEs contribute around 40% to the country’s GDP, with the logistics needs of these businesses growing alongside the rise of e-commerce. Lalamove offers features…

Tuum, a core banking provider based in Estonia, will unveil its Islamic Banking suite at Seamless Middle East, expanding on its previously announced Sharia-compliant capabilities. Islamic finance is projected to reach US$5.9 trillion by 2026, driven by demand for ethical, interest-free financial services. However, outdated technology and limited digital infrastructure continue to hinder innovation and customer experience in Islamic banking. Tuum’s new suite provides a cloud-native, modular platform that supports both fully Islamic banks and Islamic banking windows. The system is designed to help institutions launch and scale Islamic financial products while maintaining Sharia compliance. As part of the rollout,…