Tagged: dubai

Dubai Entrepreneur Khurram Shroff’s IBC Group Commits $10 Million to ETH 2.0 Staking to Support Launch of Ethereum Upgrade

The United Arab Emirates (UAE) is reportedly leading the MENA region’s Fintech sector with a projected valuation of around $2.5 billion by 2022 (which is still not significant compared to international standards). Regional and multinational financial services providers have been launching digital platforms in order… Read More

Global Payments Platform Adyen to Expand Business Operations into Middle East, Launches Dubai Office

Global payments platform Adyen (AMS: ADYEN), which claims it’s the platform of choice for many of the world’s largest businesses, has announced that it would be expanding its operations into the Middle East region. Adyen’s management noted that they aim to support the momentum of… Read More

UAE based Fintech BankOnUs Introduces AI enhanced Financial and Insurance Services Comparison App

UAE-based BankOnUS, a major financial services aggregator, has introduced an AI-powered app that aims to offer reliable and cost-effective financial solutions. The app allows users to access several different financial products and services from one wallet or interface. As mentioned on BankOnUs’ official website, the… Read More

American Fintech Ripple Set to Establish Operations at the Dubai International Financial Centre

American Fintech firm Ripple has reportedly chosen the Dubai International Financial Centre as its new regional headquarters. Financial institutions based in over 45 different countries are currently using RippleNet, which is a “decentralized” network for conducting cross-border transactions between different financial services providers. Ripple focuses… Read More

Nasdaq Dubai Welcomes Listing of $600 Million Sukuk by Islamic Corporation for the Development of the Private Sector

Nasdaq Dubai has welcomed the listing of $600 million Sukuk by the Islamic Corporation for the ongoing development of the nation’s private sector. According to a release shared with Crowdfund Insider, the Sukuk offering was allocated to investors based in the Middle East, Asia and… Read More

Australian Neobank Xinja Is Working on Finalizing $433 Million Investment Deal from Dubai’s World Investment Group

Australian neo-bank Xinja recently noted that it’s working cooperatively with Dubai’s World Investment Group (WIG) in order to close the $433 million investment deal that was announced in March 2020. At present, the bank is working with auditors so that they can address concerns regarding… Read More

Nearly 75% of Payments in the UAE will Be Cashless by 2025 as Country Prepares for Post COVID Business Environment

  Dubai Economy recently brought together the main stakeholders in the country’s cashless economy ecosystem at the Future Economy Lab event (workshop). The event was conducted as part of the UAE’s ongoing efforts to address COVID-19 related challenges. The Middle Eastern country is focused on… Read More

Abu Dhabi Global Market Releases Sustainable Finance Report, which Highlights Benefits of Islamic Finance and SDGs

Abu Dhabi Global Market (ADGM), which aims to serve as a global financial center and hub for the MENA region, says it’s always working to ensure the economic well-being of its community members. ADGM has released its State of Sustainable Finance Report – which outlines… Read More

Fintech Businesses and Startups in Israel, the UAE, and Bahrain Form Strategic Partnerships Following Signing of Abraham Accords

The Abraham Accords were recently signed between Israel and the United Arab Emirates (UAE) and the Kingdom of Bahrain.  The agreement is officially called the Abraham Accords Peace Agreement: Treaty of Peace. It establishes diplomatic relations and “full normalization” between Israel and several Middle Eastern… Read More

Dubai based Fintech Rise Launches New Platform for Affordable Remittance or Cross-Border Payments

Dubai-based Fintech firm Rise has launched a new platform that allows expatriate workers to make low-cost or affordable remittance payments. The platform’s users are able to send payments in real-time to friends and family members living abroad. At present, the remittance service is in its… Read More

Abu Dhabi based ADQ to Launch Digital Banking Platform for UAE Residents

Abu Dhabi’s ADQ is reportedly planning to launch a digital banking platform. ADQ, which operates as a state-managed holding firm, confirmed that it will establish a virtual bank in the United Arab Emirates (UAE). As reported by Reuters, the ADQ said it would be using… Read More

Checkout.com Executives in the UAE Expect Digital Payments to Overtake Cash Usage due to Rise of E-Commerce

Mo Ali Yusuf, the VP at Checkout.com for the MENA and Asia Pacific region, notes that for anyone who has been living in the UAE for over 4 years, it’s clear to see that the digital payments are increasingly being adopted, instead of using cash… Read More

UAE’s Ministry of Finance Partners with Local Banks to Offer Digital and Contactless Payments for Settling Government Service Fees

The UAE’s Ministry of Finance will be working with the First Abu Dhabi Bank (FAB) in order to launch electronic or digital Dirham contactless payments cards for settling governmental service charges. The eDirham has been set up as a system of digital channels that are… Read More

UAE’s Buy Now Pay Later Fintech Spotii to Support Business Growth with Microsoft AppSource by using its Network to Co-Market Services

Dubai’s Buy Now Pay Later (BNPL) Fintech firm Spotii has officially launched on Microsoft AppSource, which is an app store and online marketplace for companies using various Microsoft products. Spotii’s digital platform allows fashion, beauty, and lifestyle retail outlets to provide more flexible payment plans… Read More

Dubai International Financial Centre to Continue Working with Local Organizations on Fintech Projects

The Dubai International Financial Centre (DIFC), which serves as an global financial hub in the MENA and South Asia region, has signed a Memorandum of Understanding (MoU) with the Dubai Future Foundation (DFF). Both organizations have agreed to focus on supporting innovative Fintech projects in… Read More

Kokila Alagh: Founder of KARM Legal, Member of MENA Fintech Board, Discusses Role of Emerging Tech in Streamlining Middle Eastern Businesses

Kokila Alagh, Founder of KARM Legal and a member of the MENA Fintech board, recently shared the latest updates from the Middle East region, including the United Arab Emirates (UAE) with Crowdfund Insider. Alagh works closely with the Arab Monetary Fund (AMF), the Dubai International… Read More

Fintech Firm Supply@ME to Work with UAE’s iMass LLC on Offering Lending Solutions, Abu Dhabi Global Markets also Working on Financial Tech

Supply@ME recently committed to a Memorandum of Understanding (MOU) with Khaled Abdulla Almass and his investment firm, iMass LLC, in order to focus on the expansion and ongoing development of Supply@ME into the Middle East region. Supply@ME is a Fintech firm that’s owned by Italy’s… Read More

Dubai’s Department of Economic Development Launches UAE KYC Blockchain Platform

Dubai Economy (Dubai Department of Economic Development or DED) and Emirates NBD, a leading banking group in the MENAT region (Middle East, North Africa, and Turkey), have announced the go-live of the UAE KYC Blockchain Platform. The project is described as an initiative that facilitates… Read More

Maksab, a Digital Deal Making Platform for SMEs, Launches in Dubai

Maksab, a blockchain-enabled digital platform that aims to promote high growth opportunities via a virtual deal-making marketplace, has launched in Dubai.  The company notes that MENA based startups have raised over USD $659 million in the first half of 2020, a 35% increase compared to… Read More

Dubai based Wirecard Executive Arrested, More May Follow

Multiple reports indicate that Wirecard’s (WDI:DE) top person in Dubai has been arrested. According to Reuters, the Munich prosecutor “questioned the chief executive of Cardsystems Middle East FZ-LLC earlier in the day and arrested him on the basis of a warrant.” The unnamed executive reportedly… Read More

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