Posts From Fintechnews Middle East
Bahrain’s Bank ABC Goes Live With Instant Blockchain Payments for Institutions
Bank ABC becomes the first Middle East bank to introduce faster cross-border payments to specific corridors for corporates and financial institutions utilizing J.P. Morgan’s Coin Systems. Coin Systems is a blockchain-based permissioned system that serves as a payment rail and
Read More
Spire Technologies Obtains Open Banking License from Central Bank of Bahrain
Spire Technologies has obtained Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) licenses from the Central Bank of Bahrain (CBB), authorising it to operate as a fully regulated open banking ancillary service provider in the Kingdom. This
Read More
Abu Dhabi Grants Crypto Custody License to Changer.ae
Changer.ae Ltd, a crypto custodian service dedicated to safeguarding and managing digital assets, received the Financial Services Permission (FSP) license by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). With the FSP, Changer has become
Read More
State Bank of Pakistan Approves 5 In-principle Approvals for Digital Retail Banks in Pakistan
In a bid to foster innovation, financial inclusion and availability of affordable digital financial services, State Bank of Pakistan (SBP) has granted In-Principle Approval (IPA) for establishing five digital retails banks, namely HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank
Read More
Abu Dhabi Digital Asset Infrastructure Startup Fuze Raises $14Milions Seed Round
Abu Dhabi-headquartered Fuze, a digital assets infrastructure provider, has unveiled a substantial Seed round of $14mn, which they claim is the largest Seed investment in a digital assets startup in the the Middle East and North Africa region (MENA). A
Read More
Saudi Arabia Central Bank Licenses 2 New Insurance Aggregation Companies
The Saudi Central Bank (SAMA) licensed “Al-tizam for electronic insurance brokerage” and “Altheqa Insurance Brokers” to provide insurance aggregation services (soft launch). With Al-tizam and Altheqa, there will be five authorized insurance aggregation companies operating in Saudi Arabia. This decision
Read More
Archie: New Global Fintech Accelerator in Dubai Launched
Archie – an innovative new fintech acceleration partner – launches with a mission to scale the next generation of fintech disruptors that will define and lead the category. With the belief that fintech founders need much more than financial backing
Read More
Emirates NBD Group Makes Strategic Equity Investment in Climate Fintech Startup Erguvan
Emirates NBD has made an investment in Erguvan, a climate and financial technology venture aimed at providing financial institutions and corporations with digital infrastructure, enabling them to manage the impacts and risks of climate change. The investment was made via
Read More
Qatar Central Bank Grants License to 7sab Bringing Total Number of Approved Digital Payment Fintechs to 10
The Qatar Central Bank (QCB) has granted a license to 7sab, allowing the startup to provide digital payment services in the country. The move brought the number of fintech companies permitted to provide digital payment services in Qatar to ten.
Read More
Saudi Venture Capital Invests $5 Million into Venturesouq Early Stage Fintech Fund
Saudi Venture Capital (SVC) has made a $5 million investment in a fintech fund managed by VentureSouq (VSQ), primarily targeting early-stage fintech startups. This investment initiative was reported by SVC. According to the press release, the subscription agreement was signed
Read More