Archive
UAE Central Bank Issues Two New Payment Systems Regulations
The Central Bank of the UAE (CBUAE) has issued two new regulations namely the Large-Value Payment Systems (LVPS) Regulation and the Retail Payment Systems (RPS) Regulation. Both regulations apply to payment systems operating in the UAE and payment systems that
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Saudi Crowdlending Platform Lendo Secures $7.2 Million in Series A Funding Round
Saudi-based crowdlending platform Lendo announced that it has successfully raised US$ 7.2 million (SR 27 million) in Series A within a year of its launch. The Series A round was led by Derayah Ventures, with participation from Seedra, Shorooq Partners,
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Flutterwave Clinches Unicorn Status With US$170 Million Funding
African payments company Flutterwave announced that it has secured US$170 million during its Series C round, attaining unicorn status with a valuation of more than USD $1 billion. The round was led by growth-equity firms Avenir Growth Capital and Tiger
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Citi Unveils Digitised Documentation for Cross-Border Payments
Citi has announced the launch of a new service for its institutional clients that speeds up the processing of their cross-border payments through the digitisation of supporting documents. With Citi’s new service, documents can be completed, processed and tracked digitally
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Emirates NBD Integrates With UAE PASS for Digital Onboarding
Emirates NBD announced that it has integrated its website with UAE PASS, enabling individual customers to seamlessly open a bank account using their UAE PASS credentials. The UAE PASS app is the first national digital identity and signature solution that
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Baraka Unveils Commission-Free Investment Platform for the UAE
baraka, a UAE-based fintech startup, introduced its proprietary commission-free mobile trading platform following a pre-seed capital raise of USD 1 million. The secure and user-friendly app is aims to officially launch in the second quarter of 2021, subject to regulatory
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Sarwa To Launch Zero-Commission Trade Service in the UAE
Sarwa, a Dubai-based investment advisory platform, is launching a zero-commission trade service in the United Arab Emirates (UAE). The new feature will allow clients to buy and sell stocks as well as funds through the Sarwa app within a few
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Egyptian Fintech Startup NowPay Signs MOU With Export Development Bank of Egypt
Egyptian fintech startup NowPay signed a Memorandum of Understanding with the Export Development Bank of Egypt (EBE) for a credit facility to fund NowPay’s current salary advances product and future development of new products. NowPay allows corporate employees to get
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PayPal to Acquire Crypto Security Firm Curv
PayPal announced that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a provider of cloud-based infrastructure for digital asset security based in Tel Aviv, was founded in 2018
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Neobank YAP Debuts as the First Independent Digital Banking Platform in the UAE
Dubai-based neobank YAP has launched as the first independent digital banking platform in the UAE according to Reuters. YAP said that more than 20,000 customers have pre-registered and the accounts will gradually go live in coming weeks. YAP has not
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