Archive
UAE and Hong Kong Central Banks to Cooperate on Fintech, Virtual Asset Rules
The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) is set to enhance collaboration between the financial services sectors of the two jurisdictions. The CBUAE and the HKMA agreed to strengthen cooperation in
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Abu Dhabi Islamic Bank Offers Remote Account Opening for Businesses
Abu Dhabi Islamic Bank (ADIB) is now offering small and medium-sized enterprises (SMEs) remote account opening services through its mobile app by deploying the Emirates Face Recognition (EFR) technology. Real time verification of trade licenses and customer data, facial recognition,
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Builder.ai Raises US$250 Million Series D Led by Qatar Investment Authority
Builder.ai, a London-based AI-powered composable software platform for app development, announced that it has raised US$250 million in Series D funding round led by Qatar Investment Authority (QIA), the Qatar’s sovereign wealth fund. This brings Builder.ai’s total funds raised to
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UAE Emerges as Crypto Powerhouse in MENA, Home to 1,800+ Industry Stakeholders
The United Arab Emirates (UAE) is home to one of the largest cryptocurrency hubs in the Middle East and North Africa (MENA), an expansive ecosystem which, as of March 2023, comprised more than 1,800 industry organizations encompassing crypto projects and
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Singapore’s Whampoa Group Plans to Set up Digital Bank in Bahrain by End-2023
Singapore-based private family office Whampoa Group will be establishing the headquarters of its new digital bank in Bahrain according to the Bahrain Economic Development Board (Bahrain EDB). With an intended launch date of end of 2023, the digital bank aims
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Visa Appoints Tarek Abdalla as Chief Marketing Officer for CEMEA Region
Visa has appointed Tarek Abdalla as Senior Vice President and Chief Marketing Officer for Central and Eastern Europe, Middle East, and Africa (CEMEA), effective 2nd May onwards. Tarek will be based in Dubai and report to Frank Cooper III who
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Future Bahrain: Beyon Announces 250m USD Digital Infrastructure Investment
Beyon has announced a major investment of more than USD 250M in state-of-the-art digital infrastructure helping to support the acceleration of Bahrain’s digital transformation and the growth of the country’s digital economy, in a press conference attended by Beyon Chairman
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Major Trends Driving Transformation in the Middle East’s Digital Payment Landscape
In the Middle East, the digital payment landscape is changing at a rapid pace, shaped by the advent of instant payments, booming adoption of new payment methods and the rise of online retail, a new whitepaper produced by Euromonitor International
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Middle East and Africa Region Becomes Hotbed for Super-App Development
Across the Middle East and Africa (MEA) region, a range of digital offerings are emerging and growing rapidly, striving to tap into the growth of Internet and smartphone penetration, the shift to digital channels and the rise of e-commerce to
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Emirates NBD Bank Forms Digital Asset Lab in Cooperation with Fireblocks
Emirates NBD Bank has publicised a pioneering partnership with PWC and digital asset custodian Fireblocks, inaugurating its Digital Asset Lab. Both PWC Middle East and Fireblocks are set to serve as foundational council members. Emirates NBD declared on LinkedIn, “This
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