Posts From Fintechnews Middle East
Emirates Development Bank Now Offers up to AED 5 Million in Loans on Its App
Emirates Development Bank (EDB) announced a new lending feature offered in partnership with peer-to-peer (P2P) lending platform Beehive that allows SMEs to apply for loans of up to AED5 million (US$1.36 million) directly through its digital banking app and receive approval
Read More
Wix’s UK-Based Merchants Can Now Accept Payments With Vyne
Account-to-account payments platform Vyne entered a new partnership with web development platform Wix that gives Wix’s UK-based merchants access to Vyne’s open banking payments infrastructure, enabling them to offer their customers the ability to pay directly from their mobile banking
Read More
8 Rising Fintech Startups in Israel
Israel is home to a dynamic fintech ecosystem with global reach and traction. In 2021, Israeli-founded fintech startups raised a record of US$4.5 billion, surpassing the three previous years combined, a report by Viola Group, a leading tech-focused investment firm
Read More
Ooredoo and iPay by Vodafone Awarded Qatar’s First Digital Payment Licenses
Qatar Central Bank (QCB) has issued the country’s first digital payment licenses to Ooredoo Money and iPay by Vodafone Qatar. The announcement was made in a tweet on 30 August 2022 that said that the issuance was made “to contribute
Read More
Saudi Central Bank Updates Its Regulatory Sandbox Framework to Drive Innovation
The Saudi Central Bank (SAMA) announced that it has updated its Regulatory Sandbox framework as part of its efforts to achieve national strategic goals in the Financial Sector Development Programme (FSDP), a key objective of the Saudi Vision 2030. The
Read More
AWS Launches New Cloud Region in the United Arab Emirates
Amazon Web Services (AWS) announced the launch of its AWS Middle East (UAE) Region, the second of its kind following that of Bahrain in 2019. Developers, startups, entrepreneurs, and enterprises, as well as government, education, and nonprofit organisations now have
Read More
Abu Dhabi Accelerator Hub71 Selects 6 Fintechs for Its Latest Cohort
Hub71, Abu Dhabi’s global tech ecosystem, has selected six fintechs to be a part of its latest cohort of tech startups from a large number of applicants worldwide that chose to setup and scale from the UAE’s capital. For the
Read More
Fintech Leads UAE Startup Funding
In H1 2022, fintech was the preferred industry for startup investors in the United Arab Emirates (UAE), accounting for 34% of total capital during the period and 22% of transactions, a new report by Magnitt and the Emirates Development Bank
Read More
Dubai Proptech Platform Stake Raises US$8 Million in Pre-Series A
Dubai-based digital real estate investment platform, Stake, secured over US$8 million in an oversubscribed pre-series A funding round. This follows a US$4 million seed round the company closed back in June 2021, bringing their total raised funds to over US$12
Read More
Kuwait to Test an Open Banking Product Within the Fintech Regulatory Sandbox
Keen to enable the new FinTech and support the Open Banking to help bring about innovative business models in the field of financial services, the Central Bank of Kuwait (CBK) has given the green light to test a first-of-its kind
Read More