Wahed Invest, a New York-based firm and the first fintech Islamic Economy startup has raised an additional $8 million this year from existing investors to accelerate development of a global savings solution and international expansion.
UAE bank first globally to offer contactless, QR payments
Mashreq Bank and Mastercard has partnered to launch Masterpass QR, a safe and secure Quick Response (QR) mobile payments solution, accessible via the bank’s mobile application, Snapp.
Middle East arm of Locus Chain Foundation creates token wallet
The MENA headquarters of Singapore-based next generation blockchain platform, Locus Chain Foundation (LCF), in Dubai has announced that it will create a token wallet on Bibox.
RAKBANK enables seamless cash remittance via blockchain network
RANKBANK has signed an agreement with Sri Lanka’s Cargills Bank to leverage Ripple to enhance its financial services.
Middle East finance firms plan more fintech tie-ups in coming years: study
FinTech is increasingly impacting the financial services sector with 82 percent of financial services companies plan to increase fintech partnerships in the coming three to five years.
Dubai-based bank teams up with PwC to foster digital innovation
Commercial Bank of Dubai, (CBD) and PwC Middle East have signed an agreement to foster innovation in the country.
Abu Dhabi regulator calls for stricter crypto trading policies
Abu Dhabi Global Market’s head of Financial Services Regulatory Authority called for stricter international regulations for cryptocurrency trading.
Abu Dhabi rolls out digital initiative to spur financial services
Abu Dhabi Global Market, ADGM, has announced an initiative to launch a FinTech digital sandbox.
Saudi Arabia’s SABB joins global blockchain consortium
The Saudi British Bank (SABB) has joined enterprise software firm R3’s global blockchain ecosystem.
Dubai’s DFSA inks FinTech deal with Singapore authority
The Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) have recently entered into an agreement that provides a framework for cooperation and referrals between the innovation teams of each authority.