Latest World News
News from all over the world
Winklevoss Twins’ Crypto Exchange Gemini Plans to Apply for UAE Crypto License
The Winklevoss twins-owned crypto exchange Gemini announced that it will soon begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE). The firm said that by applying for a license, it will
Read More
Tabby Increases Debt Facility to $350M
Tabby, the MENA’s shopping and financial services app, has successfully closed a new financing round resulting in upsizing its debt facility to $350 million, over a 2X increase since its last debt raising announcement. The round involved the participation of
Read More
Saudi Arabia Permits 3 New Fintech Companies to Operate Under Its Regulatory Sandbox
The Saudi Central Bank (SAMA) announces granting permits to three innovators to test their Open Banking solutions in the Regulatory Sandbox. These companies are: Tarabut Gateway Company for Information Technology, Umg Alholol Trading Co (known as Single View), and Drahim
Read More
Saudi Central Banks Permits First Time BNPL Companies
The Saudi Central Bank (SAMA) granted “Spotii” and “Madfu” permits to carry out Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law for providing finance to customers wishing to purchase products or
Read More
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
Read More
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,
Read More
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
Read More
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
Read More
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
Read More
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
Read More