Emirates Investment Bank, a Dubai-based private bank, has entered a partnership with Avaloq to enhance its private banking, wealth, and investment management systems. The bank will adopt Avaloq’s platform to modernise its core operations, strengthen front-office capabilities, and upgrade digital banking channels across web and mobile. The collaboration aims to unify Emirates Investment Bank’s front, middle, and back-office functions within a single platform, improving straight-through processing (STP) and reducing manual workloads. This integration is expected to speed up client onboarding, enhance operational efficiency, and support compliance with evolving regulatory requirements. Anthony Jaganathan, Chief Operating Officer at Emirates Investment Bank, said:…

Binance has introduced direct USD deposits and withdrawals for users in more than 70 countries. The service is available through BPay Global, a payment service provider licensed and regulated by the Central Bank of Bahrain and part of the Binance Group. Retail and corporate users in eligible countries can fund, store, and convert USD to and from crypto via their fiat wallets. Transactions are supported through SWIFT bank transfers with no deposit fees from Binance, as well as credit or debit cards, Apple Pay, and Google Pay. “After much anticipation, we are happy to offer our users direct on- and…

Doha Bank has partnered with PayTabs Group to enhance e-commerce services for merchants in Qatar. The collaboration aims to support the country’s transition towards a cashless economy, strengthen the SME sector, and promote digital payment innovation in line with Qatar National Vision 2030. Dimitrios Kokosioulis, Deputy CEO of Doha Bank, said: “This partnership with PayTabs reflects our dedication to fostering local entrepreneurship, financial inclusion, and the continued evolution of digital commerce in the country.” Eyad Musharbash, Regional Head and Operating Partner for PayTabs Group Levant & Southern Gulf, added: “PayTabs Group will collaborate with Doha Bank to help build Qatar’s…

Numou, a subsidiary of ADGM, has launched Procurement Financing, a new initiative aimed at helping SMEs with government or corporate contracts access funding. The solution links confirmed contract demand with financing via Numou’s digital platform, addressing the funding gap SMEs often face when executing government contracts. The programme allows SMEs to secure funding while enabling lenders to assess businesses based on confirmed contracts. Numou’s digital lending marketplace includes fintech lenders such as CredibleX, Erad, Klubwork, Ahbi, Zelo and FlapKap, alongside government programmes like the Khalifa Fund for Enterprise Development’s Abu Dhabi SME Champions Program. Mohamed Al Binali, General Manager of…

TeleMoney, the international money transfer service offered by Arab National Bank (anb) in Saudi Arabia, has partnered with Mastercard to provide cross-border payment services through Mastercard Move. Through Mastercard Move, TeleMoney users can send international payments to over 160 countries. The partnership addresses growing demand for efficient digital solutions for cross-border payments. “With digital transformation showing no signs of slowing, the world is more connected than ever, linking people and businesses across borders. Our work with TeleMoney will enable consumers to move their money with the simple click of a button,” said Adam Jones, Division President, West Arabia, Mastercard. “As…

US-based CME Group has expanded into the Middle East with the opening of a new office in Dubai International Financial Centre (DIFC). The firm will operate locally under a Dubai Financial Services Authority (DFSA) license. “Surging institutional and retail participation in financial markets has fuelled demand for broader trading access in the Middle East,” said Julie Winkler, Chief Commercial Officer at CME Group. “Building on years of collaboration with regulators and brokers in the region, our new office will help clients manage risk and access key benchmark products.” The Dubai office will be led by Sharif Jaghman, Head of Middle…

Tamara has officially been granted a restricted finance license by the Central Bank of the UAE (CBUAE). As one of the UAE’s leading fintech platforms, the company has strengthened its standing as a trusted financial partner. Gaining full regulatory status marks a significant milestone, enabling Tamara to contribute to the objectives of the UAE Vision 2031 and support the development of a more advanced and reliable financial ecosystem in the country. “This milestone fundamentally strengthens our entire operation in the UAE and serves as the catalyst for our ambitious future here,” said Yamen Fakhreddine, CEO of Tamara UAE. “The path…

Moniepoint, Africa’s all-in-one financial platform for businesses and consumers, has raised over US$200 million in equity financing through a recently closed Series C funding round. The investment will support the company’s continued growth across Africa and its expansion into international markets. The round was led by Development Partners International’s African Development (ADP) III fund, with the final close anchored by LeapFrog Investments. Other participants include Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly TeamApt) provides digital payments,…

MoneyHash, a payment orchestration platform, has partnered with Tabby, the Saudi Arabia-based financial services app. The partnership enables merchants to offer Tabby’s flexible payment options across the UAE and Saudi Arabia through MoneyHash’s unified API. Through this integration, e-commerce businesses can provide Tabby’s interest-free instalment options at checkout, helping to improve conversion rates and reduce cart abandonment. The partnership allows merchants to access Tabby’s buy now, pay later (BNPL) services with a single integration, supported by streamlined onboarding and technical assistance. “Merchants today are racing to meet customer demand for flexible and frictionless checkout experiences,” said Mohamed Amir, Head of…

Devexperts, the software developer for the global capital markets industry, is expanding its presence in the Middle East with a renewed focus on Saudi Arabia. While progressing a number of projects in the country, Devexperts is also working on expanding its local network. Team members will be attending both Jeddah Fintech Week from 16-17 November, and Seamless Saudi Arabia from 17-19 November, as part of a Saudi Arabia-dedicated networking program this Autumn. Saudi Arabia is a growing regional hub for finance in the Middle East, with the country currently investing significantly in the infrastructure necessary to attract and retain financial…

The Boards of Directors of Dubai’s Emirates NBD Bank (ENBD) and India’s RBL Bank have approved entering into definitive agreements for ENBD to acquire a controlling stake in RBL Bank through a primary capital infusion of approximately US$3 billion (around INR 26,850 crore). The proposed transaction represents the largest foreign direct investment in India’s financial services sector, the largest equity fundraise in the Indian banking industry, and the largest preferential issuance by a listed Indian company. It also marks the first acquisition of a majority interest in a profitable Indian bank by a foreign bank. ENBD’s investment will be made…

Alibaba Cloud has signed a MoU with Wio Bank to advance innovation in cloud computing, AI, and fintech. The agreement was formalised during GITEX Global 2025. The collaboration supports Wio Bank’s multi-cloud strategy and accelerates the adoption of generative AI by leveraging Alibaba Cloud’s Qwen large language model, Platform for AI (PAI), and agentic platforms. Both organisations will jointly develop AI-powered banking agents to enhance operations and customer service. These systems will be securely hosted in Alibaba Cloud’s data centres in Dubai to ensure scalability, efficiency, and reliability. “This partnership reflects our continued commitment to delivering smarter, faster, and more…

Amazon Web Services (AWS) and e& have launched the nationwide “AI Nation – Afaaq” programme to train 30,000 individuals in machine learning (ML) and AI. Announced at GITEX Global in Dubai, the initiative forms part of the US$1 billion strategic alliance between e& and AWS established in 2024. e&, which serves over 198 million subscribers across 38 countries, will deliver the training through the e& Academy in collaboration with AWS. The initiative addresses regional workforce challenges identified in IDC’s 2024 report, which found that 88% of organisations in the UAE and Saudi Arabia recognise AI’s business impact. However, while 78%…

Sygnum Bank Middle East has launched Sygnum Validators from ADGM, a service that operates institutional-grade validator nodes for select blockchain networks, enabling non-custodial staking. Last month, the UAE adopted the Crypto-Asset Reporting Framework (CARF) from the OECD, marking a step towards tax transparency and cross-border information sharing. Since the establishment of the UAE’s Virtual Asset Regulatory Authority (VARA) in 2022, more than 500 Web3 companies have relocated to the country. The first validator supports the Solana network, allowing eligible SOL holders to delegate assets and earn rewards. Solana was chosen for its low-cost, high-speed transactions and growing institutional adoption. Validator…

Ripple has announced a partnership with Absa Bank to provide digital asset custody services in South Africa. The collaboration will enable Absa to use Ripple’s institutional-grade custody technology to offer secure storage for tokenised assets, including cryptocurrencies. Absa, one of Africa’s largest financial institutions, is Ripple’s first major custody partner on the continent. “Africa is experiencing a major shift in how value is stored and exchanged, and our partnership with Absa underscores Ripple’s commitment to unlocking the potential of digital assets on the continent,” said Reece Merrick, Managing Director for the Middle East and Africa at Ripple. “As one of…

Momentum continued on Day 3 of GITEX GLOBAL 2025, as the world’s largest technology and AI event presented new breakthroughs, collaborations, and real-world applications reshaping industries. The programme covered a broad spectrum of technologies, including AI, cloud computing, cybersecurity, robotics, data centres, and quantum systems, with a particular focus on biotechnology and digital healthcare. The 45th edition of GITEX GLOBAL, held at Dubai World Trade Centre until 17 October, brings together more than 6,800 exhibitors, 2,000 startups, 1,200 investors, and delegates from over 180 countries. On the main stage, Trevor Martin, CEO and Co-Founder of Mammoth Biosciences, discussed AI and…

Klarna has announced a partnership with Qatar Airways. Travellers booking flights with Qatar Airways can now use Klarna’s flexible payment options at checkout, giving them the choice to pay in full, pay later, split the cost into three interest-free instalments, or finance their booking over time. The partnership is enabled through Klarna’s integration with Worldpay and will be rolled out across 17 European markets, including the UK, Germany, France, the Netherlands, Spain, Italy, Portugal, Ireland, Belgium, Austria, Switzerland, Sweden, Norway, Finland, Denmark, Poland and the Czech Republic. David Sykes, Chief Commercial Officer at Klarna, said: “With a single integration, Qatar…

Wio Bank PJSC has signed a MoU with TAMM, Abu Dhabi’s unified government services platform, to simplify business banking for entrepreneurs and SMEs across the Emirate. The agreement was signed during GITEX Global 2025. Under the partnership, Wio Business will be integrated into TAMM’s digital ecosystem, allowing users to open new accounts, link existing ones, and access account dashboards directly through the TAMM website and app. The service will offer a tailored experience for businesses at different stages, including specific flows for Abu Dhabi Trade License holders and full onboarding for companies outside the Emirate. Jayesh Patel, CEO of Wio…

The second day of GITEX GLOBAL 2025 drew record crowds and packed conference halls, underscoring the continued momentum of the world’s largest technology and AI event. The day opened with a virtual discussion between Sam Altman, CEO of OpenAI, and Peng Xiao, Group CEO of G42, on the theme “AI-Native Societies,” followed by sessions featuring leaders from Microsoft, Cisco, Oracle, Khazna Data Centres, Cerebras, TAMM, Department of Government Enablement (Government of Abu Dhabi), Presight, Core42, Inception, AIQ, and Mohamed bin Zayed University of Artificial Intelligence. Speakers examined the economic, structural, and cultural foundations of the emerging intelligence economy. Taking place…

Wise has received regulatory approval from the Central Bank of the UAE (CBUAE) to offer its services in the country. The approvals cover two categories: Stored Value Facilities and Retail Payment Services, Category 2. This development will allow Wise to introduce its products, including Wise Account and Wise Business, to individual and business customers in the UAE. Joyce Lau, Country Manager, Wise UAE, said: “These regulatory approvals mark a significant milestone for Wise in the UAE, and we’re grateful for the CBUAE’s collaborative approach and commitment to fostering financial innovation. We’ll be able to provide people and businesses with all…