Posts From Fintechnews Middle East
UAE Central Selects Tech, Infrastructure and Legal Partners for CBDC Project
The Central Bank of the UAE (CBUAE) has launched its Central Bank Digital Currency (CBDC) Implementation Strategy in collaboration with R3, G42 Cloud and Clifford Chance. For Phase 1, R3 and G42 Cloud have been selected as the technology and infrastructure providers of the
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Bahrain Amends Crypto Assets Framework to Include Digital Tokens
The Central Bank of Bahrain has made amendments to its crypto-assets (CRA) module which includes expanding its scope to include digital token offerings as part of its framework. All digital tokens’ offerings that exhibit the characteristics of security will be
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Saudi EXIM Bank Goes Live on Temenos’ Core Banking Platform in 6 Months
The Saudi Export-Import Bank (Saudi EXIM Bank) has implemented Temenos’ cloud-native core banking platform, going live in just six months. Temenos enabled Saudi EXIM Bank to drive operational and financial efficiency, making it faster and easier for businesses to access
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Emirates NBD, Plug and Play Abu Dhabi Launches Fintech Accelerator
Emirates NBD has partnered with global innovation platform Plug and Play Abu Dhabi to launch a fintech accelerator programme focused on risk management. The bank is focused on 3 challenge statements, the first being cyber risk to enhance the protection
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UAE Rolls Out Digital Dirham Project, First Phase to End by Mid-2024
The Central Bank of UAE (CBUAE) has engaged G42 Cloud and enterprise blockchain firm R3 as the infrastructure and technology providers respectively for its Central Bank Digital Currency (CBDC) implementation. The regulator indicated its readiness to embark on this venture
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Dubai Sets up Venture Building Platform ‘DIFC Launchpad’
The Dubai International Financial Centre (DIFC) has launched its venture building programme ‘DIFC Launchpad’ to promote the growth of innovative startups and scale-ups in the region. The DIFC Launchpad programme expects to support the launch of more than 200 new
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Sygnum Bank Middle East Launches in Abu Dhabi
Sygnum Bank Middle East has received a Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), following its in-principle approval in October 2022. Seasoned Middle East Executive, Giulia Finkbeiner-Bertoni, leads Sygnum’s operations across
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Lebanese Fintech Purpl Ties up With Mambu, AWS to Launch Its Digital Wallet
Purpl, a Lebanese remittance and cash out aggregator, announced that it has gone live on Mambu’s cloud-native banking platform to launch its digital wallet offering. Having secured its digital wallet license, Purpl was able to deploy the digital wallet powered
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Crypto.com Secures Preparatory License From Dubai Regulator
Crypto.com announced that it has received its MVP Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). This follows the initial provisional approval that the crypto exchange had secured from VARA in June 2022. The MVP Phase, in its preparatory stage,
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UAE and India to Test Cross Border Use Case of CBDCs
The Central Bank of the United Arab Emirates (CBUAE) and the Reserve Bank of India (RBI) have signed a Memorandum of Understanding (MoU) to enhance cooperation and jointly enable innovation in financial products and services. Under the MoU, the two
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