Transformation journey pays dividends as Dubai bank revenue soars to 29% to 191.4 million and assets grow to $5.7 billion
Financial inclusion
Latest in Financial inclusion
Al Ansari Financial Services
Al Ansari Financial Services, Halan partner to launch financing solutions in UAE
The partnership introduces two key services: Salary Advance and Send Now, Pay Later (SNPL), which offer greater financial flexibility and convenience for Al Ansari Financial Services’ customers
Debt financing
MENAP fintech Abhi secures $15mn debt financing led by Shorooq Partners, Amplify Growth Partnership
The new funding will allow it to scale its operations and further expand its earned wage access to serve the blue- and white-collar working populations in the country
Bahrain
Bahrain’s BENEFIT partners with Zphin to launch first consumer lending and insurance marketplace
The transformative marketplace, integrated into the BenefitPay super app, will empower credit providers of all types to reach the entire bankable population
Blockchain
Blockchain network HAQQ reveals plans for gold-backed stablecoin, tokenised sukuk to boost Islamic interbank market
The move comes close on the heels of the UAE central bank approving issuance of stablecoin regulation
digital payments
du Pay, Visa announce new partnership to increase UAE digital payment options
The collaboration looks to advance digital payments across the UAE by formalising du Pay’s membership to the Visa network
astra tech
Astra Tech empowers inclusion and financial equity at ‘AccessAbilities Expo’ in UAE
The partnership aims to introduce an innovative digital solution designed to empower People of Determination to seamlessly showcase and sell their merchandise via the Botim store
Al Etihad Payments
UAE Domestic Card Scheme gets a boost from Al Etihad Payments, NPCI International partnership
NPCI helped transform India become a predominantly cashless society and are the developers of the highly successful RuPay
banking industry
Iraq races to digitise unbanked population amid corruption crack down and US dollar transaction ban
Here’s how the Central Bank of Iraq’s initiatives, government mandates, and Visa’s contributions are shaping Iraq’s path towards a cashless economy by 2030, according to Visa boss Leila Serhan
banking industry
Dubai Islamic Bank picks up 20% stake in Turkey’s TOM Group
DIB has the option to increase shareholding to 25 percent within 12 months; valuations not disclosed
Financial inclusion
Yoosr’s Shariah-compliant home financing to help community members amid rising interest rates, property prices
This will be offered by an upcoming Islamic-value-based fintech venture in partnership with a wide network of real estate developers
Children of Determination
Crescent Enterprises partners with Habaybna.net to promote financial inclusion for children of determination
The partnership will see both organisations collaborate to produce 50 specialised educational videos, as well as online courses in Arabic
consumer behaviour
Global e-commerce expected to hit $8.5 trillion by 2026: Report
The report by the Florida-based FIS showed the Middle East and Africa clocked the highest growth of 21% from 2021-2022
digital economy
How to close the Saudi Arabia’s skills gap
Saudi Arabia’s Digital Economy poised for growth, as the government and the private sector invest in Digital Skills and Infrastructure
Arab Gulf Programme for Development
Arab Gulf Programme for Development, Arab Monetary Fund sign pact to promote economic development
The developmental programme is to be done through boosting financial inclusion and enhancing the role of financial inclusion
Abu Dhabi Commercial Bank
ADCB, Emirates Development Bank partner on credit guarantee scheme
A MoU was signed to boost financial inclusion of small-to-medium sized enterprises
Baraka
Equity retailing startup Baraka raises $20 million in Series A funding
A clutch of investors led by Valar Ventures have invested in the latest round