Fintech News Middle East

25/07/2024

The global finalists of the Global Fast Track accelerator pitching competition will compete in the grand finale at Hong Kong FinTech Week (HKFW).

InvestHK has opened applications for the 7th edition of its Global Fast Track 2024, accepting submissions until 20 September.

24/07/2024

The ‘4 Zeros’ approach provides a framework to remain competitive in the digital economy - offering a roadmap for banks to evolve from traditional financial institutions into agile, resilient digital enterprises.

Huawei's '4 Zeros' strategy aims to reshape financial resilience, integrating advanced AI and cloud technologies for a robust banking future.

24/07/2024

HSBC and the Singapore Business Federation will aid help Singapore businesses explore growth opportunities in key trade corridors such as the Greater Bay Area, India, and the Middle East.

HSBC and SBF will aid Singapore businesses expand to key trade corridors such as the Greater Bay Area, India, and the Middle East

23/07/2024

UAE residents can send up to AED 45,000 per transaction and up to AED 135,000 per month, with an average transfer time of just 7 minutes.

Careem Pay expands its international remittance service to include money transfers to bank accounts in the Philippines.

22/07/2024

The current round follows raises of US $400 million in January 2023 and US $120 million in September 2021, making the Egyptian native fintech extremely well positioned to further expand regionally.

MNT-Halan has raised a total of US $157.5 million ─ US $40 million from the International Finance Corporation (IFC) and the remainder from DPI (Development Partners International), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.

19/07/2024

With 98% of financial institutions noting an increase in compliance costs, the report reveals the intricate challenges faced by Saudi Arabian institutions.

Gain a deep understanding of financial crime compliance intricacies in Saudi Arabia here: https://bit.ly/3Voxqdt

18/07/2024

The Series A extension funding, led by Argentem Creek Partners with participation from existing investors, will enable dopay to accelerate its rapid expansion in its initial market, Egypt.

Dopay, a rapidly growing FinTech startup providing a digital payroll and payments platform serving unbanked and underbanked workers in emerging markets, announced the closing of a strategic $13.5 million Series A extension round.

18/07/2024

myZoi’s Digital Wallet reduces remittance fees for underbanked employees.

myZoi has launched the first inclusive digital wallet. This follows a successful fundraise of $14 million from SC Ventures and SBI Holdings and obtaining two regulatory licenses from the Central Bank of the United Arab Emirates (UAE).

18/07/2024

Once implemented, the cross-border QR payment linkage will use direct local currency exchange rate.

CBUAE and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems.

17/07/2024

Uncover the Latest in Cybercrime Trends! Join this webinar tomorrow to explore insights from the LexisNexis Risk Solutions Cybercrime Report. Discover the growing threats and how to stay ahead in the fight against digital fraud.

Register now: https://bit.ly/4cuEhZX

17/07/2024

This initiative is part of SAMA’s strategy to deliver banking services to government entities, as well as supporting digital development.

​​The Saudi Central Bank (SAMA) launched "Naqd," a government banking services platform that provides easy access for government entities to their accounts at SAMA to conduct financial transactions through a secure digital platform.

17/07/2024

By analysing global economic trends, XTransfer has enhanced its AI-driven AML risk control models, transforming data to serve SMEs better.

Innovative fintech solutions like XTransfer are breaking down barriers in cross border payments, empowering SMEs to succeed globally.

16/07/2024

Insights You Can't Miss - The LexisNexis Risk Solutions Cybercrime Report shows a 19% increase in digital fraud attacks in 2023. Join this upcoming webinar on July 18th to dive deep into these findings and arm yourself with crucial knowledge.

Register here: https://bit.ly/4cuEhZX

16/07/2024

The MOU focuses on sharing information on business environments and investment opportunities with a view to promoting investment between the two sides

​Invest Hong Kong announced that it has signed a MOU with the Abu Dhabi Chamber of Commerce and Industry of the United Arab Emirates (UAE), pledging mutual co-operation on investment promotion exchanges and support.

15/07/2024

Cybercrime is Evolving – Are You Prepared? Learn how global collaboration and data sharing are crucial in the fight against digital fraud. Don't miss this upcoming webinar on July 18th, featuring exclusive insights from the Global Anti-Scam Alliance (GASA).

Register here: https://bit.ly/4cuEhZX

12/07/2024

Here’s a list of Fintech Accelerators and Incubators that will help passionate entrepreneurs take their projects and ventures to the next level.

Here’s a list of Fintech Accelerators and Incubators that will help passionate entrepreneurs take their projects and ventures to the next level.

11/07/2024

Digital fraud attack rates have increased by 19% year-over-year. Join LexisNexis Risk Solutions at this upcoming webinar with Dr. Stephen Topliss and Prof. Jorij Abraham from the Global Anti-Scam Alliance (GASA) as they discuss potential strategies and measures to navigate fraud prevention in the modern landscape.

Register now: https://bit.ly/4cuEhZX

11/07/2024

The report also formulates a number of recommendations designed to address the challenges to overcome in order for Saudi Arabia to reach its fintech goals.

Saudi Arabia has set out ambitious fintech goals as part of its Vision 2030 strategy, striving to considerably boost the number of fintech companies operating in the country, increase the sector’s contribution to the gross domestic product (GDP), and increase the volume of venture capital (VC) inv...

11/07/2024

Rising Concern: Financial crime and money laundering activities are on the rise in the UAE. Discover the top 7 threats identified in the past 12 months in this report: https://bit.ly/3XjGBhF

09/07/2024

This projection is part of a broader global impact of AI, which is anticipated to contribute up to US$15.7 trillion worldwide by 2030 through increased productivity and consumer benefits, according to a report by PwC.

Artificial intelligence (AI) is expected to significantly boost the Middle East's economy, injecting an estimated US$320 billion by 2030. This projection is part of a broader global impact of AI, which is anticipated to contribute up to US$15.7 trillion worldwide by 2030 through increased productivi...

09/07/2024

The acquisition will further empower BitOasis to strengthen and expand its presence across the MENA region as a leading player in the virtual assets ecosystem, licensed and regulated in multiple markets

BitOasis proudly announces a successful acquisition by CoinDCX, India’s largest crypto exchange.

09/07/2024

Financial crime and money laundering activities are on the rise in Saudi Arabia, with significant increases in trade-based schemes, digital payment crimes, and supply chain corruption.

Gain a deep understanding of financial crime compliance intricacies in Saudi Arabia here: https://bit.ly/3Voxqdt

08/07/2024

Here are some of Saudi Arabia’s most promising fintech startups in 2024, highlighting their value propositions and recent achievements.

Look at some of Saudi Arabia’s most promising fintech startups in 2024, highlighting their value propositions and recent achievements.

05/07/2024

Zand will leverage Ta**us SA’ integrated custody and tokenization solutions to expand its offering in the field of digital assets

Zand Bank has selected Ta**us as a strategic partner covering all aspects of its digital asset infrastructure: custody, tokenization, and blockchain connectivity.

05/07/2024

This partnership demonstrates Mashreq & Visa’s commitment to enhancing their client’s experience by streamlining and integrating their B2B Payables processes

Visa, Emaar Properties PJSC, the largest real estate developer in the UAE, and Mashreq have partnered to digitize B2B Payments through an integrated payables solution using Visa and Mashreq virtual card solution.

04/07/2024

The Central Bank of UAE unveils new sandbox conditions regulation. Learn how this will shape the fintech landscape in our latest newsletter - bit.ly/4bsJ1Ox

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03/07/2024

The launch of the Instant Payment API marks Mashreq’s pilot use case, facilitating thousands of daily low-value payments for corporates in real-time via Aani.

The launch of the Instant Payment API marks Mashreq’s pilot use case, facilitating thousands of daily low-value payments for corporates in real-time via Aani.

03/07/2024

By integrating Adyen’s advanced payment solutions, noon can significantly enhance the customer experience.

Adyen, the global financial technology platform of choice for leading businesses, is announcing a partnership with noon, the region’s leading e-commerce platform, to support the acceleration of the region’s digital economy.

02/07/2024

The initiative aims to take a significant step in government procedures, simplifying people’s lives and reducing unnecessary burdens on businesses and individuals in terms of time, effort, and resources.

The Central Bank of the United Arab Emirates (CBUAE) has launched its “Zero Bureaucracy” initiative in the financial sector, aligning with the vision and objectives of the UAE Government's wider programme “ZeroGovernment Bureaucracy”.

26/06/2024

This initiative includes strategic partnerships with leading accounting software platforms Zoho Books, Fiskl and Wafeq, aiming to embed banking services into daily business operations and simplify financial management.

Free Newsletter Get the hottest Fintech Middle East News once a month in your Inbox Wio Bank PJSC, the region’s first platform bank, is introducing a new embedded finance service designed especially for the UAE’s small and medium-sized enterprises (SMEs). This initiative includes strategic partn...