Dubai

Qarar Teams up With CredoLab for Alternative Credit Risk Scoring Solution

Credit risk and decision analytics company Qarar announced a new partnership with CredoLab, a Singapore-based alternative-data credit risk scoring provider in the market. Qarar’s partnership with CredoLab will focus on applying its embedded scoring solution to assess credit risk and

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Dubai Economy and DIFC Inks Deal to Expand the UAE KYC Blockchain Consortium

Dubai Economy and Dubai International Financial Centre (DIFC) Authority have signed an agreement to consolidate efforts and expand the UAE KYC (Know Your Customer) Blockchain Consortium positioning it as the national corporate e-KYC platform, making it the first in the

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Stripe Expands Its Footprint to the Middle East With New UAE Office

Stripe, an Irish-American payment processing platform, announced its official launch in the United Arab Emirates (UAE) which will be Stripe’s first office in the Middle East. Stripe said that it is backing its commitment to the UAE with immediate investment,

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Dubai’s NOW Money Raises $7 Million in Funding

NOW Money, a Dubai-based digital banking solution provider for low-income migrant workers, has secured $7 million in a funding round led by venture investor, Anthemis Exponential Ventures. Anthemis Exponential Ventures was joined by a consortium of investors including Knuru Capital,

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Dubai Regulator Seeks Feedback on Security Tokens Regulations

The Dubai Financial Services Authority (DFSA) is requesting feedback on its proposed regulation of security tokens. The DFSA has published its “Framework for Regulating Security Tokens” which includes derivatives as well and will be open to public consultation for a period

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UAE Fintech Ecosystem Should Brace Itself for Greater Risks That Lies Ahead

A survey conducted by Várri Consultancy, a Dubai-based consultancy focused on strategy and risk assessment, found that as the UAE fintech industry continues to grow, there are greater risks and uncertainties that lies ahead compared to a year ago. The

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Crypto Businesses Now Able to Set Up at DMCC in Dubai Following SCA Agreement

The Free Zone and Government of Dubai Authority on commodities trade and enterprise – has entered into a memorandum of understanding (MoU) with the Securities and Commodities Authority (SCA) to establish a regulatory framework for businesses offering, issuing, listing, and trading

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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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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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