The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Securities and Futures Commission (SFC) of Hong Kong have entered into a MoU to strengthen regulatory cooperation in the supervision of investment managers of collective investment schemes based in either jurisdiction. The agreement was signed on the sidelines of the annual general meeting of the International Organisation of Securities Commissions (IOSCO), held in Doha, Qatar. The MoU sets out a framework for consultation, cooperation, and the exchange of information relating to the supervision and oversight of regulated entities involved in cross-border fund management, investment management,…

Nawy, a proptech platform based in Egypt, has raised US$52 million in Series A equity funding to scale operations, enhance its technology, and support regional expansion. The funding round was led by Partech, with participation from e& Capital, March Capital Investments (MCI), Verod-Kepple Africa Ventures (VKAV), Endeavor Catalyst, Development Partners International (DPI) Venture Capital through the Nclude Fund, VentureSouq (VSQ), Outliers, HOF Capital, Plug and Play, and Shorooq Partners. The company has also secured US$23 million in debt financing from major Egyptian banks and financial institutions to support the growth of its mortgage offering. Founded in 2019 by Mostafa El-Beltagy,…

Saudi Arabia has launched HUMAIN, a new company owned by the Public Investment Fund (PIF), which will operate and invest across the AI value chain as a unified operating company. HUMAIN will provide a broad range of AI services, products, and tools, including next-generation data centres, AI infrastructure and cloud capabilities, and advanced AI models and solutions. The company will also offer one of the world’s most powerful multimodal Arabic large language models (LLMs). The company is expected to support the development and deployment of AI solutions at the local, regional, and global levels. Its remit includes enabling the digital…

BitOasis, a virtual assets trading platform based in Dubai, has officially launched its operations in Bahrain. BitOasis Bahrain will operate under a Crypto-Asset Services License issued by the Central Bank of Bahrain. The platform offers trading services for retail, corporate, and institutional clients, featuring a user-friendly interface for beginners alongside advanced tools for experienced traders. To support its expansion, BitOasis has introduced premium services aimed at high-net-worth individuals and institutional investors. These include VIP offerings and dedicated relationship support. The platform also supports local bank transfers across the Gulf Cooperation Council (GCC), enabling easier deposits and withdrawals. “CoinDCX’s 200+ strong…

Backbase, a global provider of AI-driven banking technology, has announced the launch of Banque Saudi Fransi’s (BSF) new digital banking platform. The platform, now available via BSF’s mobile and online channels, marks a significant stage in the bank’s ongoing digital transformation efforts. The updated ecosystem supports BSF’s objective of advancing its digital banking capabilities, introducing retail mobile and web platforms that streamline account management, offer improved payment solutions, and strengthen security measures. The system is underpinned by Backbase’s AI-powered platform and aims to deliver a consistent experience across digital touchpoints. Among the key enhancements is the improved functionality for financial…

Infobip has announced an expanded partnership with Oracle aimed at supporting the delivery of conversational experiences for businesses and brands worldwide. The latest integration allows customers and partners of both companies to access Infobip’s omnichannel services through Oracle Integration. As demand for omnichannel communication grows, organisations often face challenges in integrating and managing new communication channels, which can be resource-intensive and require complex development and deployment processes. Infobip’s new Omnichannel Messaging Adapter for Oracle Integration seeks to address this by enabling businesses to manage messaging across various channels, including third-party services such as WhatsApp and RCS, more efficiently. The tool…

HashKey Group, a digital asset financial services provider based in Hong Kong, has been granted a Virtual Asset Service Provider (VASP) license by the Dubai Virtual Assets Regulatory Authority (VARA). The license was awarded to HashKey MENA FZE, the operational entity behind HashKey Global MENA, marking the official commencement of its operations in the UAE. With this license, HashKey Global MENA is authorised to offer both virtual asset exchange services and virtual asset broker-dealer services within, and from, the Emirate of Dubai. This development is part of HashKey’s broader strategy to expand its market presence in the Middle East. As…

Four of Dubai’s industry leaders have been named as investor judges on the upcoming business reality television show The Final Pitch Dubai. The panel brings together decades of experience in entrepreneurship and investment, with each judge representing a different sector, including digital transformation, real estate, financial technology, clean technology, sustainability, and venture capital for early to growth stage businesses. The panel includes Bijan Alizadeh, founding partner of Cypher Capital and co-founder of Phoenix Group PLC; Dr Mohanad Alwadiya, chief executive and managing partner of Harbor Real Estate, known in the industry as “The Wolf of Real Estate”; Sami Khoreibi, founding…

Astra Tech’s flagship platform Botim has partnered with Mbank, a digital bank in the UAE, to introduce the country’s first fintech integrated Jaywan card scheme. The agreement was announced during a signing ceremony at the Dubai Fintech Summit. Through this partnership, Botim, powered by PayBy, becomes the first fintech platform in the UAE to issue Jaywan cards. The initiative supports the Central Bank of the UAE’s efforts to establish a national payment system and aligns with the country’s aim to reduce reliance on cash transactions. The new prepaid card service will allow Botim users to make digital payments across the…

Emirates NBD has signed a MoU with Nasscom, India’s premier trade association for the technology sector. The agreement, signed during the Dubai Fintech Summit, aims to strengthen cross-border collaboration in financial technology and innovation between the UAE and India. The MoU outlines a framework to support the identification and integration of high-potential Indian fintech companies into the UAE market. It also encourages joint research and knowledge-sharing initiatives to drive innovation in financial services. The partnership comes as bilateral trade between the UAE and India reached US$83.6 billion in the financial year 2023–2024. According to Emirates NBD, the collaboration will contribute…

On the opening day of the Dubai Fintech Summit, Finastra shared insights into how advanced banking technology is reshaping financial services to become more personalised, innovative, and seamless. Siobhan Byron, Executive Vice President of Universal Banking at Finastra, participated in a panel titled “Era of Frictionless Connectivity: The Rise of Digital Banking,” alongside other industry leaders. The summit, hosted by the Dubai International Financial Centre (DIFC), is a two-day event bringing together policymakers, thought leaders, and influencers to explore developments in fintech and the broader financial sector. A key theme that emerged on the first day was the increasing influence…

NymCard, an embedded finance platform based in Dubai, has been officially licensed to provide Open Finance services under the Central Bank of the UAE’s Open Finance regulation. With this development, NymCard is among the first entities in the UAE to offer regulated payment functionality within a broader financial infrastructure through a modular platform. Omar Onsi, CEO of NymCard, said: “Open Finance is a pivotal shift in how financial products are built and delivered. This milestone reflects our commitment to advancing the UAE’s financial ecosystem by delivering impactful financial experiences.” NymCard’s approach differs from providers focused only on connectivity. Instead, it…

Dubai’s Department of Finance (DOF) has signed a MoU with Crypto.com to enable the payment of government service fees using digital currencies. The initiative marks a step forward in Dubai’s move towards digital finance. The signing took place during the Dubai FinTech Summit at the Dubai International Financial Centre, where both DOF and Crypto.com are participating. This partnership supports the Dubai Cashless Strategy by introducing cryptocurrency as a digital payment option for government services. It is intended to enable secure and efficient financial transactions and support the transition towards a cashless society. The system will allow payments using stable digital…

eToro, the trading and investment platform headquartered in Tel Aviv, Israel, has collaborated with Google to launch one of the first television and YouTube advertising campaigns created entirely using Veo 2, Google DeepMind’s advanced video generation technology. The partnership represents a notable development in the use of generative AI for large-scale brand storytelling. Veo 2, recently made available to the public, is capable of producing cinematic-quality video based on text and visual prompts. The technology uses artificial intelligence to simulate real-world physics and generate human-like expressions and performances. eToro’s campaign is among the first in the advertising industry to be…

Bybit, the world’s second largest cryptocurrency exchange by trading volume, has signed a MoU with Ghaf Labs, a Web3 advisory and consultancy firm based in the Middle East and North Africa. The agreement outlines a multi year strategic partnership aimed at promoting cryptocurrency adoption, supporting the growth of the digital asset ecosystem, and exploring practical applications for blockchain technology across the region. The partnership reflects a shared intention to support the development of the MENA region as a centre for Web3 innovation by encouraging regulatory clarity and facilitating the integration of blockchain in everyday life. Ghaf Labs, supported by Ghaf…

Japan’s JCB International and Arab Bank have announced the launch of JCB merchant acquiring operations across Jordan. This collaboration will allow JCB cardmembers to make payments seamlessly through Arab Bank’s point-of-sale (POS) terminal network. Yacoub Matouk, Head of Consumer Banking at Arab Bank, stated: “Through this cooperation with JCB, we aim to expand the electronic payment methods in Jordan.” He added: “At Arab Bank, we continue to offer innovative banking solutions and services that meet diverse needs and align with our digital transformation strategy to reinforce the digital banking services both locally and regionally.” Yuichiro Kadowaki, Managing Director of JCB…

The fintech ecosystem across the Middle East, North Africa, and Turkey (MENAT) is experiencing a period of remarkable growth and maturation. According to a recent report by Lucidity Insights, sponsored by SAP, nearly 900 fintech companies in the region have secured funding. Among them, nine have reached unicorn startups, while 26 are so-called “soonicorns,” or ventures on the verge of achieving billion-dollar valuations. The report, released in February, provides an overview of the region’s burgeoning fintech ecosystem, highlighting soaring fintech adoption rates and increased investor interest. 400+ scaleups among which 26 soonicorns MENAT is now home to 898 funded fintech…

IHC, a global investment company based in Abu Dhabi, has announced plans to establish a new artificial intelligence-driven reinsurance platform based in the Abu Dhabi Global Market (ADGM). The platform, which is yet to be named, will provide underwriting services supported by advanced AI technologies. It aims to contribute to the development of capital markets and economic growth in the Gulf region. BlackRock will partner with the platform, offering insurance asset management, advisory services, and its Aladdin technology. Lunate will also be a partner, bringing experience in both private and public markets and a multi-asset investment approach. The platform will…

Emirates Petroleum Company PJSC (Emarat) and Crypto.com have announced a partnership to enable cryptocurrency payments at Emarat service stations, subject to regulatory approval. Emarat operates more than 155 service stations across the UAE. Under this collaboration, Crypto.com’s platform will be integrated into the checkout systems at an initial ten service stations, with plans for wider implementation over time. As part of Project Landmark, Emarat’s initiative offering naming rights for fuel stations, the two companies will launch the Crypto.com Emarat Service Station at Al Ameen Station on Al Wasl Road. This will be the first Emarat station to feature Crypto.com branding…

Standard Chartered has launched the seventh cohort of the Futuremakers Women in Tech UAE Accelerator, in partnership with C3 Companies Creating Change and Village Capital. The programme forms part of the bank’s global Futuremakers initiative, which supports economic inclusion for disadvantaged young people. In the UAE, the accelerator focuses on women-led technology startups, offering training, equity-free funding, and access to professional networks. C3 will lead the programme locally, drawing on its experience in supporting entrepreneurs and building startup ecosystems. Selected startups will be eligible for equity-free funding of up to AED 550,000 (approximately US$150,000) from the Standard Chartered Foundation. Across…