United Arab Emirates-based UAE Exchange and US startup Ripple plan to launch cross-border remittances to Asia via blockchain by the first quarter of 2019, UAE Exchange’s group CEO said in an interview with Reuters.
The UAE and Saudi Arabia have started using fintech for cross-border settlements, including a digital currency which they jointly developed for that purpose.
Mashreq Bank has concluded the latest phase of its digital transformation initiative, in which it adopted Microsoft’s modern workplace solutions, to further engage customers, empower employees, optimise operations and reinvent products and services.
Robo-advisory firm, Sarwa, has become the first participant to graduate from Dubai Financial Services Authority’s regulatory sandbox following nearly 12 months of testing.
The RAK Department of Finance have announced the launch of RAK SmartPay, an integrated e-payment system in the emirate.
A majority of UAE residents are willing to get banking services from an established technology company, according to a recent study.
The Islamic Corporation for the Development of the Private Sector (ICD) plans to introduce a blockchain-based product to help Islamic banks manage their liquidity needs.
Finablr, a global platform for Payments and Foreign Exchange solutions, has announced the acquisition of TimesofMoney, a digital payments solutions provider, from Network International.
Over 250 developers and tech enthusiasts from the Google Developers Group (GDG) and coding communities in the UAE and MENA region took part in an exciting 18-hour Codeathon, organised by Emirates NBD.
The Emirates Institute for Banking and Financial Studies (EIBFS) has launched a new online research portal that will enable access to the latest industry and economic reports and whitepapers, scholarly articles and surveys.
Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services.
Al Hilal Bank is the first Islamic bank in the world to leverage Blockchain technology for the resale and settlement of an Islamic Sukuk.
The Department of Economic Development (DED) in Dubai and Visa have signed a Memorandum of Understanding (MoU) to help grow the UAE’s consumer eCommerce sector by encouraging more merchants to take their businesses online, and educating consumers on the benefits of digital payments and shopping and paying online.
Emirates NBD has announced that its debit and credit card customers can now pay via Google Pay.