Banking and finance security innovations in the UAE is set to drive the GCC’s cybersecurity market to $8 billion in 2018 as organisations optimise emerging technologies such as facial recognition. iris scans and crypto currency.
Workshop raises awareness on modern auditing practices in UAE
The State Audit Institution (SAI) has organised a workshop on modern auditing in the technological age, WAM reported.
UAE’s ADGM creates framework to regulate crypto assets
Abu Dhabi Global Market’s new framework will regulate crypto asset activities, including those undertaken by exchanges and other intermediaries in the finance hub.
Bahrain VC raises $100M to support Middle East tech startups
Bahrain Development Bank (BDB) has announced that the Al Waha Fund of Funds has successfully closed its $100 million fundraising round.
Over 60% of UAE consumers use unsecured WiFi when shopping online
The Department of Economic Development (DED) in Dubai and Visa have launched a consumer education campaign that aims to promote safe card usage and provide consumers with tips and advice to protect themselves against payment-related fraud.
DIFC bolsters Dubai’s FinTech ecosystem with new deal
Dubai International Financial Centre (DIFC) has announced its partnership with Startupbootcamp to support the development of the growing FinTech and venture capital ecosystem in the Centre as well as promote entrepreneurship in the region.
Federal Tax Authority connects users with tax firms
UAE’s Federal Tax Authority (FTA) has developed its e-services to include new features allowing taxable persons to link their accounts with an accredited tax agency.
UAE crypto firm first in MENA to receive regulatory sandbox licence
Palmex, a digital asset exchange powered by ArabianChain Technology, has become the first and only cryptocurrency exchange in the Middle East and North Africa to receive a Regulatory Sandbox License.
Technology a game-changer for Middle East M&A deals: experts
The fundamentals of merger and acquisition (M&A) deals in the GCC region have not been significantly affected by artificial intelligence (AI) and still rely on human cognition.
EastNets to boost cross-border payments in Kuwait
EastNets has announced its partnership with Kuwait’s Boubyan Bank to roll out SWIFT’s global payments innovation (gpi) service for its customers across the country.
Invest Easy links ePayment cards in Oman
Invest Easy portal launched the electronic link with the OmanNet ePayment Gateway for Omani bank cards supported by the Central Bank of Oman and electronic payment gateway Cyber Source for non-Omani bank credit cards, the Times of Oman reported.
Saudi Arabia sees “largest fintech acquisition” to date
Gulf Capital has reportedly acquired a strategic stake in Saudi Geidea, a provider of electronic payment solutions and financial technologies in the Kingdom of Saudi Arabia.
Oman bank joins global blockchain payment network
As part of its ongoing efforts to ensure convenient banking experience for its customers, BankDhofar has announced that it is the first bank in Oman to join Ripple’s global enterprise Blockchain network – RippleNet.