Posts From Fintechnews Middle East
Abraham Accords: Unlocking the Potential for Israeli Tech Companies in the UAE
The UAE has over the last five years or so become home to a growing range of innovative tech companies in a wide variety of sectors, including fintech. This has been the result of a very deliberate policy of the
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Egyptian Fintech MNT-Halan Gets Unicorn Badge With US$400 Million Raise
Egyptian fintech MNT-Halan announced that it has raised up to US$400 million in equity and debt financing, pushing its valuation to over US$1 billion. The funds came from Chimera Abu Dhabi which has invested more than US$200 million in equity
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Discover Eight Tech Features That Will Prepare You for the Future of BNPL
Buy Now, Pay Later (BNPL) is booming – some experts predict it could grow by up to 400% in the next few years. BNPL products have gone from interesting new option to a household staple in recent years. And, like
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Regtech Startup Konsentus Launches in Saudi Arabia
Open Ecosystem RegTech provider, Konsentus, establishes its MENA regional base in the Kingdom of Saudi Arabia to provide open data infrastructure and technology services to regulators and financial services providers in the Kingdom and surrounding territories. The team is led
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Mastercard Partners With EazyPay in Bahrain
Mastercard has partnered with Bahrain’s fintech and payment service provider Eazy Financial Services (EazyPay) that will now be powered by Mastercard Payment Gateway Services (MPGS). MPGS is a trusted platform that provides financial institutions with a white-label technology for payment
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Dubai Accounting Startup Wafeq Raises $3 Million Seed Round
Wafeq, a modern and easy-to-use accounting platform, has announced the completion of its $3 million seed round. The Dubai headquartered company’s seed round was led by Raed Ventures and saw participation from Wamda Capital, both of which are two of
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Pakistan Central Bank Shortlists Five Players for Digital Banking License
The State Bank of Pakistan (SBP) has unveiled the granting of no objection certificates (NOCs) to five applicants of its digital banking license, moving these entities closer to securing the regulatory greenlight they need to eventually launch their digital banking
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Saudi Licenses Two Additional Debt-Based Crowdfunding Fintech Startups
The Saudi Central Bank (SAMA) announced the licensing of two finance companies specialized in debt-based crowdfunding, namely: Forus and Tameed. The licenses were granted to the companies after successful testing of their solutions in SAMA’s Regulatory Sandbox; an experimental environment
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Saudi Central Bank Continues CBDC Trials
The Saudi Central Bank (SAMA) continues to experiment on Central Bank Digital Currency (CBDC) as it is currently working on a phase of a project that focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs.
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VC Funding Soars in Saudi Arabia, Propelled by Fintech
2022 was a record-breaking year for venture capital (VC) investment in Saudi Arabia. Startups in the country secured a total of US$987 million across 144 deals, representing a staggering 72% increase in funding volume compared with 2021, according to a
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