Globally, the demand for alternative credit models is shaped by structural gaps in financial access. Around 1.5 billion adults worldwide remain unbanked, while an additional 2.8 billion are underbanked, lacking access to credit cards. Together, these groups represent more than half of the world’s adult population. Nearly 44% of adults globally still rely heavily on cash for financial transactions, despite 89% smartphone penetration. In the Middle East and Africa, the contrast is even sharper: roughly 95% of the population is either unbanked or lacks access to credit cards, while mobile phone usage remains comparatively high. This structural imbalance-strong digital access…

Saudi Arabia’s fintech industry enjoyed a strong year 2025, marked by the rapid expansion of its startup community, deeper cashless adoption, and continued progress in digital banking. Digital payments saw sustained growth, driven by wider use of payment cards, electronic payments, and the widespread adoption of mobile wallets. New digital banks launched operations, while others secured regulatory approval, with early entrants already securing millions of customers. At the same time, AI and data centers emerged as national priorities, and regulators expanded fintech licensing, sandboxes, and fintech labs, to support experimentation and scale. Together, these developments are paving the way for…

Any high-value business is a target for criminals or protestors, anywhere in the world. In the UAE, where digital transformation and rapid development of the fintech future is accelerating, there can be a gap in knowledge between traditional security and any company that is purely cyber-focused.  Whatever future-ready finance system a company is building, it might be protected from the online threats of hackers, malware and nation-state actors, but if the on-premises security is weak, the organisation, its hardware and workers remain highly vulnerable.  From on-payment device cameras to whole-building layered security, protecting your company IP, office systems and staff…

In 2025, fintech in the United Arab Emirates (UAE) continued to grow and evolve, driven by new regulatory developments, widespread adoption of advanced technologies such as artificial intelligence (AI), and increased use of tokenization and blockchain to improve efficiency and broaden access of financial services. The Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM) further strengthened their roles as leading fintech hubs, while consumers and businesses increasingly embraced digital assets and tokenized solutions. Islamic fintech also advanced, leveraging the UAE’s well-established Islamic finance sector and a national strategy to promote Islamic finance and the halal economy.…

In 2025, Saudi Arabia exceeded its fintech targets, recording expansion in its startup community, strong investment activity, and expanding cashless adoption. Digital banking was a key theme throughout the year, with new banks launching operations, securing regulatory approval, and attracting millions of customers. Meanwhile, artificial intelligence (AI) and data centers emerged as national priorities, led by government-backed AI company Humain and multibillion-dollar partnerships with global tech firms. Regulators expanded fintech licensing, sandboxes, and fintech labs, while introducing consumer-friendly credit card rules and investment reforms to attract foreign capital. Despite these progresses, challenges remained, especially around talent shortages and increasing regulatory…

In line with the Third Financial Sector Strategy, Qatar Central Bank (QCB) continues to enhance digital payment systems and services. It is also working to strengthen cooperation among GCC countries. QCB announced that merchants and ATMs in the State of Kuwait now accept the national payment card, “Himyan”. Himyan cardholders can carry out purchase transactions and withdraw cash at various points of sale and ATMs across Kuwait, in accordance with the highest security and protection standards, The Peninsula reported. QCB said the move demonstrates its aim to provide reliable national “Himyan” card services within the local payment ecosystem. The bank…

Dubai has unveiled ambitious plans to eventually become a fully cashless city. According to TimeOut Dubai, the emirate’s cashless strategy will see all payments across both government and private sectors go digital. First announced in October 2024, the initiative seeks to phase out notes and coins in favour of digital payments throughout the city. Dubai expects cashless transactions to account for around 90% of all payments by 2026, potentially boosting economic growth by over AED 8 billion annually. Moving towards a cashless system does not mean abandoning money entirely. Instead, payments will be made digitally. Banking apps and credit cards…

MoneyHash is working with Mastercard to expand access to its Merchant Cloud platform for merchants across the Middle East and Africa. Through a single unified API, merchants can connect to Mastercard’s Gateway, simplifying integration, streamlining operations, and improving payment performance across markets. Mastercard’s Gateway, part of the Merchant Cloud portfolio, is now accessible through MoneyHash’s payment orchestration platform. This allows businesses to connect directly via a single API, removing the need for multiple integrations and reducing time to market. Merchants can optimise transaction routing, improve success rates, reduce payment failures, and monitor operations through a centralised dashboard. “Our collaboration with…

Huawei has added the Sahm Capital smartwatch trading app to its wearable ecosystem in Saudi Arabia. The app provides users with real-time market updates, instant notifications, and quick portfolio insights on Huawei wearable devices, allowing investors to monitor financial markets directly from their wrist. The launch forms part of Huawei’s broader strategy to expand the functionality of its wearables and provide services relevant to local users. The company has experienced growth across the Gulf Cooperation Council, driven by increasing adoption of wearables, smart devices, and cross-platform applications. Integrating Sahm Capital into its ecosystem strengthens Huawei’s position in offering a more…

Sun Life, a provider of High Net Worth (HNW) insurance solutions, has received authorisation from the Dubai Financial Services Authority (DFSA) to establish operations in the Dubai International Financial Centre (DIFC). Sun Life’s DIFC office, led by Senior Executive Officer Sameera Anand, will begin operations in December. The office will support local and regional brokers, providing direct access to Sun Life’s expertise and solutions for HNW and Ultra-HNW clients across the Middle East. “We are delighted to have received approval to join DIFC,” said Sujoy Ghosh, CEO, Sun Life High Net Worth. “This expansion brings us closer to our partners…

Bank Frick has expanded its international operations with the opening of a branch in the Dubai International Financial Centre (DIFC), after receiving a license from the Dubai Financial Services Authority (DFSA). The license allows the branch to arrange investment business. It may also provide lending and custody services, as well as deliver financial services for Bank Frick in Liechtenstein. The branch has begun operations on the 17th floor of the Emirates Financial Towers. It is led by Stefan Rauti, Head of International Banking Solutions, who has been with the bank for 15 years in various management roles. The Dubai branch…

The ADGM has entered its second decade with a significant increase in global institutional presence, announcing 11 new major financial institutions representing over US$9 trillion in assets under management. This follows growth from US$450 billion in 2023 to US$635 billion last year, highlighting ADGM’s expansion as a financial hub in the region. The announcements coincided with the fourth edition of Abu Dhabi Finance Week (ADFW) 2025, which brought together international financial leaders and positioned the event as a platform highlighting Abu Dhabi’s role as a global centre for capital allocation. The new commitments span asset management, banking, infrastructure investment, sustainability…

Presight has signed a contract with First Abu Dhabi Bank (FAB) to implement AI and data analytics solutions aimed at enhancing customer insights, optimising resource planning, and supporting the bank’s commercial growth strategy. Under the agreement, Presight’s Applied Intelligence framework will focus on two areas: growth intelligence and resource planning. Presight will integrate multi-source economic, sectoral, and firmographic data into an AI analytics platform. The platform will help FAB identify and engage high-potential corporate and institutional clients. The platform will provide ranked opportunity lists and geospatial heatmaps. These tools will guide relationship managers toward companies with the highest conversion potential…

Amber International, operating as Amber Premium, the digital wealth management platform of Amber Group for ultra-high-net-worth individuals and institutions, has announced that its Dubai subsidiary, Amber Premium FZE, has received in-principle approval (IPA) from Dubai’s Virtual Assets Regulatory Authority (VARA). The IPA represents the final stage before full authorisation for virtual asset activities in the region and marks a step in Amber Premium’s expansion under regulatory oversight. “VARA’s in-principle approval is a milestone in our long-term build. We are deliberate in pacing growth with governance,” said Michael Wu, CEO and Chairman of the Board, Amber Premium. “This advances our goal…

Dubai International Financial Centre (DIFC) has become a member of the Global Cross-Border Privacy Rules Forum (Global CBPR Forum). During a recent Global CBPR Forum workshop in the Philippines, DIFC became the first member outside the Asia-Pacific Economic Cooperation (APEC) region. As part of the membership requirements, DIFC also joined the Global Cooperation Arrangement for Privacy Enforcement (Global CAPE). The move supports DIFC’s efforts to establish interoperable and trusted privacy frameworks in line with global business and individual needs. It also reinforces the Centre’s role in advancing the digital economy in Dubai and the UAE, consistent with the UAE Digital…

Fortinet has released its 2025 Global Cybersecurity Skills Gap Report, highlighting ongoing and emerging challenges caused by the shortage of qualified cybersecurity professionals. The report finds that as organisations increasingly turn to AI to strengthen their security, they also recognise the risk of AI being exploited in cyberattacks, particularly given the limited AI expertise among teams. A lack of cybersecurity awareness and training continues to be the leading cause of breaches, while boards often lack sufficient knowledge despite prioritising the issue. The report also notes that organisations prefer cybersecurity personnel with certifications. In Saudi Arabia, the country’s Vision 2030 initiatives…

Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has signed a multi-year collaboration agreement with Amazon Web Services (AWS) to support AI research, skills development, and startup growth in the UAE and the wider region. The collaboration aims to strengthen links between academic research and industry application. It aligns with the UAE’s National Strategy for Higher Education 2030. It also supports the Expanded Professional Experience initiative. The initiative focuses on increasing student exposure to practical, real-world environments through applied projects and training. Under the agreement, MBZUAI and AWS will establish a Strategic Research Program. The programme will focus on jointly…

Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the UAE (CBUAE), chaired the board meeting on 17 December at Qasr Al Watan, Abu Dhabi. Sheikh Mansour welcomed attendees and highlighted the CBUAE’s achievements in 2025, stating that the Central Bank is “steadily advancing, in line with the directives of the wise leadership, in implementing ambitious strategies that enhance financial stability, improve the efficiency of the financial system, support the digital transformation journey, and contribute to developing an innovative and secure…

Presight has opened applications for the second cohort of its AI Accelerator programme. The initiative aims to support the commercial adoption of AI solutions and accelerate the deployment of applied AI products. Applications are open to AI startups, founders, and entrepreneurs worldwide from 15 December 2025, closing on 31 January 2026. Presight will conduct screening and interviews in February to select the top 30 applicants. This will be followed by a pitch day to determine the finalists. The second cohort builds on the first, which received over 120 applications from 17 countries. From these, 10 startups were selected for a…

PayPal is in discussions with fintech companies in Africa as it prepares to launch a cross-border digital wallet platform on the continent in 2026, Otto Williams, the company’s head of Middle East and Africa, told Semafor. The move is part of PayPal’s effort to tap into Africa’s rapidly growing digital payments market. The new platform, PayPal World, is designed to allow interoperability between local digital wallets and international payments. Users will be able to pay using a PayPal button that connects to their existing wallet, rather than creating a new PayPal account. The company announced the initiative in July, highlighting…