NEO PAY, a UAE-based payment solutions provider, has partnered with Wio Bank PJSC to introduce a Point-of-Sale (PoS) lending solution for SME merchants across the UAE. The lending facility provides merchants with access to funds based on their sales data, bypassing the lengthy procedures typical of conventional loan approvals and credit checks. Merchants repay loans based on their sales, which aligns instalments with revenue and eases financial pressure during slower periods. They can use the solution to finance working capital needs, including inventory purchases, marketing, or business expansion. Vibhor Mundhada, CEO of NEO PAY, said: “This partnership is a step…

Network International has entered a strategic processing agreement with Saudi Sudanese Bank. The partnership will provide the bank with end-to-end digital payment processing services, including Mastercard sponsorship, prepaid issuing, and additional value-added solutions. The agreement aims to modernise Sudan’s financial ecosystem, improve trade settlement efficiency, and create new investment channels. Saudi Sudanese Bank formalised the agreement during Cairo ICT 2025 as part of its efforts to enhance digital capabilities and customer experience. Dr. Reda Helal, Group Managing Director, Processing, Africa at Network International, said: “By bringing our advanced solutions to Saudi Sudanese Bank, we’re not only supporting their strategy, we’re…

Emirates NBD has issued AED 1 billion in three-year fixed-rate Digitally Native Notes (DNNs), marking the first AED-denominated digital bond and the largest public digital bond in the MENA region. The notes are listed on Nasdaq Dubai. Issued under Emirates NBD’s Euro Medium Term Note (EMTN) Programme, the bond utilises distributed ledger technology (DLT) on Euroclear’s Digital Financial Market Infrastructure (D-FMI) platform to digitise the bond lifecycle. Listing on Nasdaq Dubai provides secondary market access and aligns with international standards. The issuance attracted a diverse investor base, reflecting confidence in Emirates NBD’s credit quality and digital capabilities. Emirates NBD Capital,…

Thawani Pay has entered a strategic partnership with Network International to enhance digital payment services and credit card capabilities in Oman. The partnership follows Thawani Pay’s recent Visa licensing milestone, allowing the company to issue credit cards and develop new payment solutions. Under the agreement, Network International will provide credit card processing services, supporting Thawani Pay’s card development plans with scalable and secure infrastructure. The collaboration aims to advance digital payment adoption and contribute to Oman Vision 2040’s objectives of digitalisation and economic diversification. Majid Al Amri, Founder and CEO of Thawani Pay said: “By combining Thawani Pay’s local market…

Mastercard, Tappy Technologies, Thales, and First Abu Dhabi Bank (FAB) have launched the Fitness Payment Ring in the UAE, a device that integrates fitness tracking with contactless payment functionality. The ring allows users to link their FAB – Mastercard debit and credit cards via network tokenisation, enabling secure tap-to-pay transactions. Abdelhafid Mordi, CEO of Thales UAE, said: “At Thales, our role is to build a future we can all trust, and we are happy to be supporting the country’s ambitions for a secure, digital, and knowledge-driven economy with this partnership.” The Fitness Payment Ring combines Tappy’s wearable technology expertise with…

Sultan Haitham bin Tarik has issued a Royal Decree establishing the International Financial Centre of Oman (IFC Oman) and enacting its dedicated law. The move aligns with Oman’s strategic objectives to diversify the national economy, strengthen its position as a global financial hub, and support innovation. Under Royal Decree No. (8/2026), IFC Oman will operate with administrative, financial, and legislative independence, developing a regulatory, legal, and judicial framework based on English Common Law. Governance will be overseen by the IFC Oman Board, appointed by the Sultan. Three independent entities, the IFC Oman Authority, IFC Oman Regulator, and IFC Oman Dispute…

Lean Technologies, a financial infrastructure provider in the MENA region, and Ziina, a UAE-based payments platform, have launched the country’s first live customer-initiated Open Finance payment under the Central Bank of the UAE’s (CBUAE) Open Finance framework. Ziina, a licensed financial institution with Stored Value Facility (SVF) authorisation, is the first entity in the UAE to offer live Open Finance payments initiated by customers. Users can make instant, account-to-account payments via regulated Open Finance APIs that connect directly to their bank accounts, offering a faster and more transparent alternative to manual transfers. Lean provides the underlying infrastructure, including secure connectivity,…

Hashgraph Ventures Manager, a licensed venture capital fund regulated by the Financial Services Regulatory Authority (FSRA) of ADGM, has pledged US$1 million to the Hedera Africa Hackathon, Africa’s largest Web3 innovation event. The fund will consider selected projects from the hackathon for potential investment. The initiative aligns with Hashgraph Ventures’ mandate to support early-stage ventures in blockchain, AI, and deep technology. The fund is collaborating with The Hashgraph Association, a Swiss non-profit that promotes Hedera ecosystem adoption. It is also working with the Exponential Science Foundation, a global organisation investing in advanced technologies. With participation from United Gulf Financial Services…

In 2025, the regtech industry in Sub-Saharan Africa (SSA) continued to grow and mature, fuel by growing demand for efficient, cost-effective compliance solutions, evolving regulatory frameworks, and increasing regional integration, according to a new industry report by Regtech Africa, a digital tech media and consultancy platform. Soaring adoption of AI and emerging technologies Several trends shaped the space in 2025. Artificial intelligence (AI), in particular, emerged as a prominent topic, recognized for its potential to enhance regulatory compliance, automate risk monitoring, and improve the efficiency of reporting processes. According to the report, approximately 62% of financial institutions now implement AI-powered…

Abacus Group, an IT Managed Services Provider (MSP) and Managed Security Services Provider (MSSP) for highly regulated industries, has opened a new office in Abu Dhabi, expanding its presence in the Middle East. The move follows the company’s recent expansion into Dubai and forms part of its growth strategy in the UAE. Together, the two offices allow Abacus to support a wide range of financial services firms across the country and provide local access to IT and cybersecurity expertise. The Abu Dhabi office is located within the ADGM. The UAE’s regulatory framework and growing market demand continue to attract both…

Mal, the Abu Dhabi-based fintech founded by Abdallah Abu-Sheikh, has secured US$230 million in a Seed funding round, marking the largest seed-stage financing ever recorded in the MENA region. The UAE startup is developing an AI-driven Islamic financial platform aimed at serving Muslim and underbanked communities worldwide. According to FWDStart, BlueFive Capital led the round. The firm was founded in 2023 by former Investcorp executive Hazem Ben-Gacem and manages over US$4 billion in assets. It has offices in Abu Dhabi, Bahrain, London, and Beijing. Strategic investors and family offices also participated in the financing. Abu-Sheikh, well known in the region…

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) and Mastercard have announced a strategic collaboration aimed at expanding the bank’s consumer, commercial and digital payment capabilities. The agreement builds on Mastercard’s role as a technology partner to ABK-Egypt and supports the bank’s efforts to strengthen its digital payments offering for cardholders in Egypt. Under the collaboration, Mastercard will provide ABK-Egypt with digital payment solutions designed to streamline transaction processes and enhance security for both consumers and businesses. Commenting on the announcement, Khaled El Salawy, CEO and Managing Director of Al Ahli Bank of Kuwait – Egypt, said: “This collaboration supports…

MoneyHash has partnered with Spare, a regional open banking infrastructure provider in the GCC, to enable merchants in the UAE to offer Pay By Bank solutions. The collaboration aims to reduce payment costs, shorten settlement times, and support account-to-account transactions. The partnership aligns with MoneyHash’s focus on expanding digital payment options beyond traditional card-based models. By integrating Spare’s open banking payment initiation APIs, the platform provides secure access to financial data while complying with regional regulations. “Open banking is reshaping how digital payments evolve in the region, bringing new ways to enhance security, speed, and customer choice,” said Maram Alikaj, Chief…

Zand has completed the integration of XDC Network, an enterprise-grade blockchain platform. This integration allows corporate and institutional clients to custody assets on the XDC Network through Zand’s institutional-grade digital asset custody service, subject to regulatory approvals. The integration also supports gold trading through ComTech Gold, which combines blockchain technology with gold investment. Zand CEO Michael Chan said, “This collaboration with XDC Network supports our vision of building blockchain-powered financial products to help bridge the gap between Traditional Finance and Decentralized Finance and advance the digital economy.” Ritesh Kakkad, Co-Founder of XDC Network, added, “Our partnership with Zand brings together…

The Dubai Financial Services Authority (DFSA) has implemented an updated regulatory framework for Crypto Tokens. The revised rules aim to provide greater clarity for market participants and support a transparent and well-regulated digital assets environment. The updated framework follows a consultation in October 2025 and reflects the DFSA’s approach since the launch of the Crypto Token regime in 2022. Over the past three years, the DFSA has monitored market developments and engaged with industry stakeholders and international regulators to ensure its rules remain robust and globally aligned. A significant change under the new framework is the shift from a DFSA-led…

Beyon Money Business, part of the Beyon Group, and EazyPay, a Bahraini payment services provider licensed by the Central Bank of Bahrain, have announced a collaboration that makes Beyon Money Business the first digital wallet integrated with EazyPay’s POS devices across Bahrain. The integration, building on a partnership established in 2025, allows merchants to accept digital payments via Beyon Money Business. It also provides real-time sales data, reconciliation tools, and analytics aimed at supporting business operations, particularly for SMEs. Mohamed Abdulaal AlFahad, Director of Beyon Money Business, said: “As the first wallet integrated with EazyPay’s POS network, Beyon Money Business…

Revolut is in talks to acquire Turkish digital bank FUPS as it looks to launch its services in the country, according to people familiar with the matter. The sources said no final decision has been made, and the fintech may still decide not to proceed with the acquisition. Any deal would be subject to approval by Türkiye’s banking regulator, the Banking Regulation and Supervision Agency (BDDK), Bloomberg reported. A spokesperson for Revolut said the company does not comment on “market rumours or speculation”, while FUPS declined to comment. Revolut is led by billionaire founder Nik Storonsky and has around 70…

Red Sea Global (RSG), developer of the Red Sea and AMAALA tourism destinations, has partnered with Bunat Ventures Limited (Bunat VC) to launch a venture fund focused on AI startups in Saudi Arabia. The AI Venture Fund will invest in early- and growth-stage companies that are AI-native or integrate AI as a core part of their business. Over three years, it aims to support around 25 startups through pre-seed and growth-stage investments. In addition to funding, the programme will provide companies with access to infrastructure and an environment to pilot and test technologies within RSG’s operations. The initiative seeks to…

Walaa, an insurer in Saudi Arabia, has launched CoverGo’s health insurance platform to provide a fully digital claims process for customers, providers, and internal teams. The new platform allows Walaa to manage claims administration in-house, supporting its growth strategy for the health insurance segment. The digital and automated processes are expected to reduce operational costs, mitigate healthcare inflation risks, and improve customer experience. CoverGo’s platform, with its AI capabilities, modular API architecture, and integration features, enables Walaa to operate within Saudi Arabia’s health insurance ecosystem and sets the stage for future automation and expansion. “Digital transformation is a key priority…

Binance has appointed Tarik Erk as its new Regional Head for MENAT, covering the Middle East, North Africa, and Turkey, as well as Senior Executive Officer for Abu Dhabi. Erk, originally from Buffalo, New York, has over a decade of experience in regulatory compliance, market expansion, product launches, and government affairs within financial services and digital assets. His professional background aligns with Binance’s aim to maintain secure and compliant operations while expanding in MENAT. He began his digital asset career in 2017 at Paxos in New York City and previously held positions at JPMorgan Chase and Commerzbank. Prior to joining…