Dubai
CFS DIFC Gets DFSA License to Offer Insurance Advisory Services
Insurance broker CFS DIFC has secured a license from the Dubai Financial Services Authority (DFSA) to advise on financial products and investments related to long term insurance contracts. The DFSA license also sees the company joining the Dubai International Financial
Read More
Bahrain, UAE and Saudi Arabia Recognized as Open Banking Leaders in the GCC
In the Gulf Cooperation Council (GCC), the open banking phenomenon is evolving at a rapid pace. Across the region, regulators are embracing the imperative aggressively, having acknowledged the potential of data sharing to improve customer experience and increase financial inclusiveness.
Read More
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
Read More
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
Read More
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
Read More
Nomura’s Komainu Gets MVP Licence to Offer Crypto Custody Services in Dubai
Crypto custodian Komainu has received a minimal viable product (MVP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA), following its receipt of a provisional approval in July 2022. The MVP licence allows Komainu, which specialises in institutional digital asset custody
Read More
Qashio Raises US$10M Led by One Way Ventures for Enterprise Spend Management
UAE spend management platform Qashio has raised US$10 million in equity and non-equity seed funding in a round led by One Way Ventures, a US fund investing in immigrant founders. The round included participation from MITAA, Cadorna Ventures, Sanabil 500
Read More
Baraka Raises US$20M Series A Led by Peter Thiel’s Valar Ventures
Dubai-based trading app baraka has closed a US$20 million Series A round led by Peter Thiel’s Valar Ventures, with participation from investment advisory firm Knollwood. The company says that the funding will be used for regional licensing and expansion, as
Read More
Report Details 11 Fintech Regulatory Sandboxes in MENA in 2022
The MENA Fintech Association’s (MFTA) Open Finance Working Group has published a new report on the rise of open banking and embedded finance in the Middle East and North Africa. The report found that regulators in the region have been
Read More
Alpadis Group Secures DIFC License, Opens Second Office in Dubai
Swiss corporate services provider Alpadis Group has obtained a license to operate in the Dubai International Financial Centre (DIFC) and has opened its second office in Dubai. The group’s new office, based in the DIFC Gate Village, aims to serve
Read More