Posts From Fintechnews Middle East
Telenor Microfinance Bank Embraces Alipay’s Blockchain Tech for Remittance
Telenor Microfinance Bank, in partnership with Valyou Malaysia, has introduced Pakistan’s first blockchain-based cross-border remittance service using blockchain technology developed by Alipay, the online payment platform operated by Ant Financial Services Group (“Ant Financial”). The blockchain remittance service is provided
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Crypto, ICO Regulations Coming to the UAE in 2019
The Security and Commodities Authority (SCA), the United Arab Emirates (UAE) financial regulator, will introduce regulations for initial coin offerings (ICOs) by the end of the first half of 2019, a move aimed at providing company with an alternative, regulated
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Mobile Payments in the Middle East: News Roundup
The Middle East is witnessing a burgeoning mobile payment market with a number of players offering a multitude of diverse services. The United Arab Emirates (UAE) in particular has seen a boom in the number of available mobile payment services.
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IFC Turns Their Focus to Dubai with its Fintech Conference
Dubai International Financial Centre (DIFC) hosted its 6th annual International Finance Corporation (IFC) FinTech CEO Summit. This is the first time IFC, a member of the World Bank Group, has held the event outside its Washington D.C. headquarters. The event gathered
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Saudi’s Capital Market Authority FinTech ExPermit Batch Applications Are Closing Soon
In a bid to promote fintech innovation in the capital market, the Capital Market Authority (CMA) is accepting applications for the second batch for the Financial Technology Experimental Permit (FinTech ExPermit) that is closing soon—on the 15th of December 2018. The FinTech
Read MoreDubai and Visa Sign MoU to Promote e-Commerce While Keeping Shoppers Safe
The Department of Economic Development (DED) in Dubai and its long-standing partner, Visa, have signed a Memorandum of Understanding (MoU) to help grow the UAE’s consumer e-commerce sector by encouraging more merchants to take their businesses online, and educating consumers on
Read MoreAl Hilal Bank Just Made Their First Islamic Sukuk Sale on Blockchain, Worth US$1 Mil
Al Hilal Bank has executed the world’s first sukuk transaction on a blockchain ledger. The state-owned Islamic bank used a DLT ledger for the resale and settlement of an Islamic sukuk—a small portion of a US$500 million five-year sukuk that
Read MoreKuwait Launches its Own Fintech Sandbox to Stay Competitive Among Gulf Nations
His Excellency, Dr. Mohammad Y. Al-Hashel, the Governor of the Central Bank of Kuwait has announced that the bank has issued a Regulatory Sandbox Framework for fintech companies. With a goal of spurring firms to experiment with emerging sectors in the
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BEAM Wallet Acquired by Dubai Based Property Giant Majid Al Futtaim
Mobile wallet player BEAM was recently acquired by Majid Al Futtaim, a Dubai based property firm which owns and operates 23 shopping malls, 13 hotels and 4 mixed-use communities. The acquisition comes with full ownership of Beam’s IP rights, branding and
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