Tag "regulation"

Qatar Strives to Become a Global Fintech Hub

Striving to turn the country into a major fintech hub, the Qatar government has introduced a number of programs and initiatives to support local startups and entice international fintech companies to set up shop domestically and choose the nation as

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Funding Momentum to Continue in Pakistan Fintech Sector

2021 was a blockbuster year for Pakistani startups, which raised a total of US$352 million, data from Invest2Innovate, a local consultancy firm, shows. Out of that sum, 27% was raised by fintech startups, or US$95 million (excluding Bazaar’s combined US$36.5

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New Virtual Asset Regulation, Licensing Framework Coming to Dubai Free Zone

As investment and trading activity in virtual and digital assets continue to grow in the Middle East, economic zone financial regulator, the Dubai Financial Services Authority (DFSA), is looking to introduce new regulation for the asset class as well as

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Oman Jumps on Open Banking Bandwagon

The Central Bank of Oman (CBO) is drafting the so-called Open Banking API Strategy as part of a broader push to stimulate innovation in the finance sector. The intentions were outlined in the 2021 Arab Region Fintech Guide, a paper

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Pakistan’s Nascent Fintech Ecosystem Gets a Boost

Despite a growing population and a large pool of unbanked, Pakistan has been a relatively slow-mover within the digital finance space, but new opportunities brought about the COVID-19 pandemic and government-led initiatives are expected to fuel growth. Out of a

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2020 VC Funding Hits New All-Time High in Egypt; Fintech Makes up 8% of Total Funding

Egypt’s venture investment ecosystem has emerged as one of the most rapidly developing markets in the Middle East and North Africa (MENA), growing at a compound annual growth rate (CAGR) of 100% over the past five years, according to the

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Nigeria Lays Groundwork for Open Banking

With a booming fintech sector, the Nigerian government and regulators are now setting the foundation for open banking, releasing regulatory frameworks for the safe and efficient transmission of data with hopes that subsequently new, innovative financial solutions will emerge and

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Saudi Arabia: Open Banking Expected to Go Live in H1 2022

The Saudi Central Bank, previously known as Saudi Arabian Monetary Authority (SAMA), is planning to go live with open banking during the first half of 2022. The Go-Live Phase will be the third and last phase of SAMA’s open banking

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Abu Dhabi Free Zone: Digital Bank Licensing Gains International Interest

Several firms from the United Arab Emirates (UAE), the broader Middle Eastern region, and Asia-Pacific, are looking to establish digital banks in Abu Dhabi’s financial free zone, said Richard Teng, chief executive of the Financial Services Regulatory Authority (FSRA), the

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DIFC Launches New License for Tech Startups and Entrepreneurs

The Dubai International Financial Centre (DIFC), a special economic zone in Dubai and a financial hub for the Middle East, Africa and South Asia (MEASA) markets, has launched a new license for startups, entrepreneurs and technology companies. The Dubai Innovation

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