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.
Digital currency to speed up UAE-Saudi Arabia cross-border transactions
The UAE and Saudi Arabia have started using fintech for cross-border settlements, including a digital currency which they jointly developed for that purpose.
UAE-based bank transforms workplace with Microsoft
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 first to graduate from Dubai’s regulatory sandbox
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.
Ras Al Khaimah introduces a new smart way to pay
The RAK Department of Finance have announced the launch of RAK SmartPay, an integrated e-payment system in the emirate.
UAE residents trust tech companies more than banks: study
A majority of UAE residents are willing to get banking services from an established technology company, according to a recent study.
Saudi Arabia’s ICD eyes blockchain tech for Islamic banks
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 acquires digital payments firm TimesofMoney
Finablr, a global platform for Payments and Foreign Exchange solutions, has announced the acquisition of TimesofMoney, a digital payments solutions provider, from Network International.
Emirates NBD challenges UAE’s brightest young minds
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.
New online initiative to enable UAE finance professionals
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 throws hat into regional fintech ring
Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services.
Abu Dhabi-based bank conducts world’s first blockchain sukuk transaction
Al Hilal Bank is the first Islamic bank in the world to leverage Blockchain technology for the resale and settlement of an Islamic Sukuk.
Dubai DED inks deal to accelerate transition to cashless society
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.
Emirate NBD customers can now use Google Pay
Emirates NBD has announced that its debit and credit card customers can now pay via Google Pay.