Posts From Fintechnews Middle East
44% of UAE Retailers Affected by Cyberattacks in 2023
Adyen published a new research revealing the millions of Dirhams lost annually to cyberattacks in the UAE retail sector. Working alongside the Centre for Economic Business and Research (Cebr), Adyen found that the retail sector globally lost $429 billion to
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Binance Receives Full Virtual Asset Service Provider Licence in Dubai
Binance FZE, the Dubai entity of Binance, today announced that it has received the Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA). This licence, subsequent to the previous issuance of the Minimum Viable Product (MVP)
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UAE’s SME Fintech Fortis Secures $20M Series A
Fortis, a retail tech and fintech solutions provider tailored for SMEs, announced the successful completion of Series A funding round, raising $20 million in investment led by Opportunity Venture (Asia). With a decade of experience, Fortis empowers entrepreneurs to seamlessly
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Crude Oil Q2 Forecast – Prices May Continue to Rise
Oil prices surged during the first quarter of 2024 as the supply/demand outlook tightened and global geopolitical concerns intensified, pushing both U.S. and European benchmark crude futures to five-month highs. Over the first three months of the year, WTI (West
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Crypto.com’s Dubai Entity Receives Approval
Crypto.com announced that its Dubai entity, CRO DAX Middle East FZE, has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and is launching the Crypto.com Exchange for institutional investors as its first operational milestone. This operational approval
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First Abu Dhabi Bank Taps Microsoft Azure to Accelerate Digital Shift
The United Arab Emirates’ First Abu Dhabi Bank (FAB) has announced a strategic partnership with Core42, a subsidiary of G42 specialising in AI solutions, to facilitate the transfer of its data center operations to the Microsoft Azure cloud platform. This
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The Top 10 Fintechs in Middle East in 2024
Forbes Middle East has unveiled its Fintech 50 ranking, recognizing the region’s leading players that are revolutionizing the fintech landscape in the underserved region, spanning digital payment companies, open banking platforms, investment, saving, and lending apps. The list was constructed
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UAE Central Bank Grants Telr In-Principle Approval for Retail Payment License
Dubai-based payment gateway provider Telr has secured in-principle approval from the Central Bank of the United Arab Emirates (CBUAE) for a Retail Payment Services & Card Schemes (RPSCS) license. This initial approval marks a major step for Telr, enhancing its capability
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Oman Housing Bank Taps Temenos to Drive Digital Transformation
Oman Housing Bank (OHB), a primary financier of housing in Oman, has partnered with banking software company Temenos for upgrading its core banking systems to a cloud-based platform. This collaboration aims to expedite the development of new financial products and
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QIB Launches Himyan Prepaid Card, a National Initiative by Qatar Central Bank
Qatar Islamic Bank (QIB) introduced a new Prepaid Card “Himyan”, the first Qatari national prepaid card, to all existing customers, residents, and visitors of Qatar allowing secure payments within Qatar. The first Qatari national prepaid card is an initiative of
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