Dubai

Report: Payment Assets High on the Agenda for Leading MENA Banks

Wholesale banking has been undervalued yet delivered impressive results through the pandemic, according to a new report released by Oliver Wyman and Morgan Stanley. The wholesale and transaction banking report titled Striving to Sustain Returns found that markets and investment

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Dubai’s P2P Payment App Mamo Raises $8 Million in Pre-Series A Funding

Mamo, a Dubai-based digital wallet and peer-to-peer payments platform, announced that it has raised US$8 million in its latest Pre-Series A funding round. The round was led by Global Ventures, along with the participation of 4DX Ventures, AlRajhi Partners, Olive

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Zurich Taps Amazon Payment Services to Offer Digital Payments Option in the Middle East

Amazon Payment Services (APS), a payment processing services provider, has partnered with Zurich International Life Limited to offer digital payments for its customers in the Middle East for the latter’s digital customer onboarding platform ZurichPro. Zurich is a multi-line insurer

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Dubai Crypto Firm BitOasis Secures Regulatory Approvals from ADGM

BitOasis, a digital asset trading exchange and platform in Dubai, announced that it has been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). The firm said that it

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Dubai’s Free Trade Zone Breaks 7 Year Record for New Firm Registrations in April

Dubai Multi Commodities Centre (DMCC), a Dubai government authority on commodities trade and enterprise, has welcomed 216 new businesses to their free zone in April 2021, the highest recorded number for April in 7 years. DMCC added that Q1 2021

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Commercial Bank of Dubai Launches Robo-Advisory Investment App With InvestSuite

The Commercial Bank of Dubai announced the launch of its CBD Investr app which offers a robo-advisory investment solution. Developed in partnership with InvestSuite, a wealthtech company based in Belgium, the investment app is powered by smart algorithms that actively

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Blockchain-Based Digital Trade Platform UTC Goes Live With 7 UAE Banks

UAE Trade Connect (UTC), a new nationwide blockchain platform co-created by Etisalat Digital and seven UAE banks and Avanza Innovations and initially ideated by First Abu Dhabi Bank, has gone live. This platform invites all UAE banks and the supply

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Dubai Islamic Bank’s JV Partners Lulu for Contactless E-Wallet Payment Options

Digital Financial Services, a joint venture of Etisalat and Dubai Islamic Bank, has partnered with Lulu Group International to enable secure and contactless payment options for its eWallet customers. With this partnership, customers will be able to use their e-wallet

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Ajman Bank Taps Apple Pay to Secure Payments for Its Customers

Ajman Bank now enables its customers the option of paying with Apple Pay in a bid to offer a safer and more secure payment method. Customers simply hold their iPhone or Apple Watch near a payment terminal to make a

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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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