Archive

Emirates NBD Launches Emirates NBD Pay

Emirates NBD has expanded its portfolio in the payments space with the launch of Emirates NBD Pay. Launched in collaboration with Network International, NBD Pay will offer card acceptance solutions to the bank’s existing and potential institutional banking clients in

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UAE’s AUM Ventures Launches US$30M Fund to Invest in Indian Startups

UAE venture capital firm AUM Ventures has launched its first US$30 million fund that aims to invest in early and pre-growth stage tech and consumer-focused Indian startups. The fund, which is regulated by the Abu Dhabi Global Market (ADGM), was

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Gulf Capital Gets ADGM In-Principle Approval for an Asset Management License

Private equity firm Gulf Capital has opened its new global headquarters in the Abu Dhabi Global Market (ADGM) and obtained in-principle approval for an asset management license from the ADGM Financial Services Regulatory Authority (FSRA). The company is also pursuing

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UK’s Berg to Provide Multi-Currency Business Accounts to UAE SMEs

UK business payments platform Berg announced that it will be introducing its multi-currency and cross-border transaction services to SMEs in the UAE. Using Berg’s platform, SMEs will be able to manage their finances digitally on a mobile app, access multi-currency

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Tweeq Granted SAMA Payments License to Offer E-Wallet Services

The Saudi Central Bank (SAMA) has granted a payment license to Riyadh-based money app Tweeq to provide e-wallet services, bringing the total number of payment companies licensed by SAMA to 23. This comes in addition to five companies which have

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Hex Trust Gets MVP License to Offer Virtual Asset Custodial Services in Dubai

Hex Trust, a digital asset custodian licensed in Hong Kong and Singapore, has received a Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The MVP license allows Hex Trust to provide a range of virtual asset

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Saudi Arabia: Fintech Momentum to Continue in 2023 Driven by Open Banking and Digital Banking

In Saudi Arabia, the fintech industry has risen significantly over the past year, a growth that’s evidenced by accelerated new business creation and soaring investment activity. In 2023, the momentum is expected to continue, building on new regulations, supportive initiatives

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Swiss Digital Asset Bank Sygnum Granted In-Principle Approval by ADGM

Swiss digital asset bank Sygnum has received in-principle approval from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) to expand to the city. The approval allows the company to access Abu Dhabi’s established wealth management market and

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Ta3meed Selects Moneythor’s Loyalty Solution for Its Purchase Order Financing Platform

Saudi purchase order financing platform Ta3meed has selected Moneythor’s personal finance management and loyalty solutions to enhance its platform with loyalty features. Under the partnership, Moneythor will provide Ta3meed’s loyalty programme with data-driven personalisation capabilities to strengthen its digital engagement

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CoverGo Expands to the Middle East With Noria Capital’s Investment

Insurtech CoverGo announced that it is expanding to the Middle East in partnership with insurtech fund Noria Capital following its US$15 million Series A fundraise earlier this year. The company’s Series A, which closed in May 2022, was led by

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