Tagged: uae

August 11, 2024 @ 2:20 pm By Omar Faridi  |  

Telr, the online payment gateway, has announced its strategic collaboration with Mastercard (NYSE: MA) to introduce its digital checkout solution, Click to Pay, across its extensive network of merchants in the UAE. Through this partnership, Telr will deploy payment technologies “to enhance the customer experience.”… Read More

August 11, 2024 @ 2:19 pm By Michael Wong  |  

Sav, a UAE-based Fintech, has secured in-principle approval for a Category 4 license from the Dubai Financial Services Authority (DFSA), positioning the company for significant expansion. The licence will enable Sav to offer regulated financial services, aligning with its objective to simplify money management for… Read More

August 6, 2024 @ 7:00 am By JD Alois  |  

Blockchain ecosystem IOTA has been recognized as being Shari’a-compliant. According to a note from IOTA, the Cambridge Institute of Islamic Finance’s certification states that the IOTA token fulfills all accepted Shari’a principles and standards, including those practiced by the Islamic financial services industry. IOTA reports… Read More

July 21, 2024 @ 6:56 pm By Michael Wong  |  

The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More

June 20, 2024 @ 3:22 pm By Omar Faridi  |  

Fenergo, the provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring and Client Lifecycle Management (CLM), announces that First Abu Dhabi Bank (FAB) the largest bank in the United Arab Emirates (UAE), has “integrated Fenergo’s software-as-a-solution (SaaS) CLM solution to speed up client… Read More

June 6, 2024 @ 7:57 pm By Omar Faridi  |  

Paxos International, a UAE-based affiliate of Paxos, announced the launch of a yield-bearing stablecoin – Lift Dollar (USDL). Issued by Paxos International, “a regulated entity under the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), USDL will be available to consumers in… Read More

June 2, 2024 @ 5:51 pm By Omar Faridi  |  

Abu Dhabi Global Market (ADGM), the International Financial Centre of the UAE’s capital, has released a Consultation Paper in order to seek views on its proposals on the comprehensive revamp of its real property regulatory framework. This regulatory revamp addresses market needs and “ensures we… Read More

May 22, 2024 @ 10:45 am By JD Alois  |  

This past week, the California state legislature approved an Artificial Intelligence (AI) bill, SB 1047 that is being described as undermining innovation and hampering the development of the new technology. Joe Lonsdale, founder of Palantir (NYSE:PLTR) – a firm engaged in AI development, slammed the… Read More

May 19, 2024 @ 3:11 pm By Omar Faridi  |  

United Fintech is increasing its global presence with the opening of a new location in the Dubai International Financial Centre (DIFC). This strategic expansion into the UAE, “spearheaded by Athena, one of United Fintech’s partner companies, is a response to robust market demand and underscores… Read More

May 15, 2024 @ 4:10 pm By Omar Faridi  |  

Tether Operations Limited, the largest company in the digital asset industry, announces the signing of a Memorandum of Understanding (MoU) with RAK Digital Assets Oasis (RAK DAO), which is the first step towards the launch of several strategic initiatives to help foster the adoption of… Read More

May 6, 2024 @ 9:27 pm By Omar Faridi  |  

The UAE card payments market is forecast to grow at a compound annual growth rate (CAGR) of 10.6% between 2024 and 2028 to reach AED764.1 billion ($208.2 billion) in 2028, according to GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveals “that card… Read More

May 6, 2024 @ 11:17 am By JD Alois  |  

A legal consultancy has published a report on the regulatory environment for Fintechs in the MENA region. While digital finance is the future of all financial services, the emergence and regulation of various services have differed worldwide.  KARM Legal Consultants has crafted a “Fintech Legal… Read More

May 4, 2024 @ 12:55 pm By Omar Faridi  |  

Klumi Ventures announces its achievement as the United Arab Emirates’ Web3 venture capital firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This event heralds a new era of innovation and investment opportunities in the region’s digital asset ecosystem,… Read More

May 4, 2024 @ 10:12 am By Omar Faridi  |  

The Dubai Financial Market (DFM) and SIX, the Swiss Financial Market Infrastructure Group, announced today the signing of a collaboration agreement during the second edition of the Capital Market Summit. The partnership underscores a shared commitment to exploring and implementing collaborative initiatives “aimed at fostering… Read More

April 26, 2024 @ 5:11 pm By Omar Faridi  |  

In the aftermath of recent severe weather conditions the UAE witnessed, global payments solution provider Checkout.com has conducted a comprehensive analysis revealing significant shifts in transaction volumes across various sectors. The data sheds light on the profound impact of adverse weather “on consumer online shopping… Read More

April 18, 2024 @ 11:28 pm By Omar Faridi  |  

Varys Capital has partnered with FundRock Investment Management Services (ME) Ltd, a fund management company, licensed by the FSRA, to manage a feeder fund, Varys Capital Ventures (CEIC) Limited in the Abu Dhabi Global Market (ADGM). The feeder fund will invest its assets into a… Read More

April 3, 2024 @ 9:23 am By JD Alois  |  

Following the full regulatory approval from the UAE Securities and Commodities Authority to deal in securities in the UAE, Capital.com has opened an office in Dubai and plans to expand its services across the MENA and Asia regions. Launched in 2016, Capital.com aims to enable… Read More

April 2, 2024 @ 10:01 pm By Omar Faridi  |  

Digital asset exchange Fasset’s app is now officially available to users in the UAE. The app offers access to broker-dealer services for “both early investors and experienced real-world asset investors seeking to diversify their investment portfolio with digital assets.” Fasset’s platform allows secure and seamless… Read More

March 29, 2024 @ 11:03 am By Omar Faridi  |  

PhonePe App users traveling to the UAE can now make payments using UPI at Mashreq’s NEOPAY terminals, available across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions. They simply need to “scan the QR code for seamless and… Read More

March 1, 2024 @ 6:12 pm By Omar Faridi  |  

Responding to growing demand for Finance-as-a-Service propositions in the Middle East, additiv, a global enabler of Fintech and embedded finance, has announced that it is expanding its presence in Dubai, UAE by opening a new, fully operational office location in the heart of Dubai International… Read More