Klickl, a regulated Web3 financial services provider, has signed a tripartite MoU with WeBank, a digital bank from Mainland China, and Goldford Group, an innovation-focused conglomerate in Hong Kong. The agreement sets out to create a cross-regional fintech innovation alliance connecting Mainland China, Hong Kong, and the Middle East. The MoU was signed during an official visit to Qatar by a delegation from Hong Kong and Mainland China, led by Hong Kong Chief Executive John Lee. This collaboration represents the first structured initiative linking fintech ecosystems across the Greater Bay Area and the Middle East. Klickl contributes its regulatory knowledge…
Author: Fintechnews Middle East
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Ripple has announced two new partnerships in the UAE for its Ripple Payments service. The cross-border payments platform, which uses blockchain technology and a network of global payout partners, will now be used by Zand Bank and Mamo. The development follows Ripple’s recent approval by the Dubai Financial Services Authority (DFSA), making it the first blockchain-based payments firm to be licensed by the regulator. The DFSA license enables Ripple to offer end-to-end payment services in and out of the UAE, operating continuously and settling transactions within minutes. “With the DFSA license, Ripple can address inefficiencies in traditional cross-border payments, including…
Emirates Development Bank has launched the Emirates Growth Fund (EGF), a AED 1 billion growth equity platform aimed at supporting the expansion and competitiveness of SMEs based in the UAE. The fund was introduced during the fourth edition of the Make it in the Emirates Forum. It is designed to provide long-term capital and strategic support to high-potential businesses operating in sectors such as manufacturing, food security, healthcare, and advanced technology. The initiative forms part of the country’s broader Operation 300bn strategy, which seeks to increase the contribution of the industrial sector to AED 300 billion by 2031. The Emirates…
Mashreq has launched its next-generation API Marketplace, a platform aimed at providing corporate clients, developers, and fintechs with access to Mashreq’s suite of APIs. APIs, or Application Programming Interfaces, are technical tools that enable data exchange between systems, streamlining how businesses handle payments, receivables, and liquidity. The platform offers real-time visibility into cash positions and transactions. “The API Marketplace is a key pillar in our broader digital strategy,” said Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq. “At Mashreq, we are committed to driving the future of open banking and digital transformation through APIs. Our new…
Lalamove, the Hong Kong-based on-demand delivery platform, has officially commenced operations in the UAE, marking its entry into the 14th market globally. This expansion strengthens its presence in the EMEA (Europe, the Middle East, and Africa) region, with full service now available across Dubai and delivery drop-offs in Sharjah and Abu Dhabi. Founded in 2013, Lalamove uses technology to connect users with driver partners and vehicles on demand. The company’s entry into the UAE comes as SMEs contribute around 40% to the country’s GDP, with the logistics needs of these businesses growing alongside the rise of e-commerce. Lalamove offers features…
Tuum, a core banking provider based in Estonia, will unveil its Islamic Banking suite at Seamless Middle East, expanding on its previously announced Sharia-compliant capabilities. Islamic finance is projected to reach US$5.9 trillion by 2026, driven by demand for ethical, interest-free financial services. However, outdated technology and limited digital infrastructure continue to hinder innovation and customer experience in Islamic banking. Tuum’s new suite provides a cloud-native, modular platform that supports both fully Islamic banks and Islamic banking windows. The system is designed to help institutions launch and scale Islamic financial products while maintaining Sharia compliance. As part of the rollout,…
Checkout.com has entered into a partnership with du Pay, one of the UAE’s rapidly growing fintech platforms focused on expanding financial inclusion and accessibility across the country. Through this collaboration, du Pay will utilise Checkout.com’s payments infrastructure to improve the performance of its core offerings, including wallet top-ups. By adopting Checkout.com’s unified platform, du Pay aims to provide faster, more reliable, and secure financial transactions for its users. The partnership also supports the integration of complex backend payment operations via a single API, helping du Pay to scale more efficiently and offer a consistent user experience across its services. This…
A new 5GW UAE–US AI campus was unveiled on May 15 at Qasr Al Watan in Abu Dhabi, in the presence of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and President Donald Trump. The campus is set to become the largest AI facility outside the US, and will serve as a base for American technology companies to deliver regional computing capabilities, particularly for countries in the Global South. Located in Abu Dhabi, the AI campus will feature 5GW of capacity for data centres, aimed at enabling US hyperscale technology providers to deliver low-latency services to populations within…
Deloitte Middle East and Google Cloud have announced an expansion of their regional partnership. Under the new agreement, Deloitte will resell and provide services related to Google Cloud solutions, with a focus on digital transformation and cybersecurity enhancement in the UAE and the wider Middle East. Tariq Ajmal, Cyber Leader at Deloitte Middle East, said: “Our combined expertise and resources will enable us to deliver cutting-edge cybersecurity solutions that address the evolving needs of businesses in the region. We are excited about the potential this collaboration holds and look forward to achieving remarkable milestones together.” Deloitte has received four Partner…
Wio Bank PJSC, UAE’s digital-first bank, has announced the appointment of Mansour AlMulla as Chairman of the Board, along with the addition of four new board members. The appointments are intended to support the bank’s continued growth and contribution to the country’s digital economy. AlMulla is the Deputy Group CEO of ADQ, a sovereign investment firm focused on infrastructure and global supply chains. He brings over 23 years of experience across various sectors, including financial services. Joining him on the Board are Eng. Hamad Al Ameri, Dr. Jaap Kalkman, Jawad Shafique, and Samy Ben-Jaafar, who bring expertise in finance, banking,…
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…