Friday , 24 January 2020

Financial Services

Dubai’s DIFC Fintech Hive plans to increase number of cohorts: Raja Al Mazrouei

The programme’s third cohort generated an overwhelming response of more than 425 applications. Dubai International Financial Centre (DIFC) Fintech Hive plans to increase the number of cohorts per year, while reducing the duration of its accelerator programmes. “We will probably spend the next couple of months sharing and exploring ways to have more cohorts within the year,” Raja Al Mazrouei, …

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UAE tops in Mena with brand value of $730bln

UAE scores highly on quality, efficiency of infrastructure and is to be commended for improved ease of doing business The UAE is way ahead of all other countries in the Middle East and North Africa region, with the strongest and most prized brand value at $730 billion, while 11 out of the 20 fastest-growing nation brands of 2019 worldwide come …

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Ex-Namshi CEO’s ‘buy now, pay later’ fintech start-up gets seed funding

Tabby to provide UAE and Saudi customers with flexi payment options for online purchases UAE-based fintech start-up Tabby, which offers customers the option to ‘pay later or in installments’ for goods bought online, has secured a $2-million seed funding in a round led by Global Founders Capital, with participation from Arbor Ventures and Wamda Capital. Founded by Hosam Arab, former …

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Bahrain is one of the top 10 most-improved economies in the world – World Bank

Bahrain is ranked among the top-10 most improved economies in the world according to a World Bank report that assessed 190 countries. The Doing Business 2020 report showed that Bahrain advanced 19 places to the 43rd place since last year. The Arab kingdom has implemented a comprehensive economic reform programme as part of its Economic Vision 2030, increasing its foreign …

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HSBC launches Tatawwar to support next generation of social innovators

HSBC has today launched the second edition of its future skills flagship programme, Tatawwar: Building Tomorrow’s Minds, for students across the UAE, Egypt, Oman, Kuwait, Bahrain, Qatar, and Algeria. Powered by Potential.com, Tatawwar: Building Tomorrow’s Minds is an interactive online and face-to-face programme that brings together students aged 15 to 18, schools, parents and the business community to innovate for …

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Smart Dubai is developing 30 blockchain projects: PwC

50% of government transactions to be on Blockchain by 2021 Government departments in the UAE are adopting blockchain technologies faster than the private sector, and there are more than 30 projects under development as part of Smart Dubai initiative alone. The UAE has undertaken a broad and multi-faceted blockchain-themed initiative called Emirates Blockchain Strategy 2021, global consultant PwC said in …

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Jordan: Pio-Tech Sponsors New Trends in Computing Sciences Conference

Under the Patronage of HRH Princess Sumaya bint El Hassan Amman – Jordan: Pio-Tech, the leading provider of Banking Business Intelligence and Performance Management Solutions in the Middle East and Africa, served as the main sponsor of the 2nd International Conference on New Trends in Computing Sciences (ICTCS’19). Held at the St. Regis Hotel & Residence, under the patronage of …

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Muzn Islamic Banking promotes quality education through education finance

Muzn Education Finance is based on the Islamic principle of Service Ijarah. Muzn Islamic Banking recently launched its Muzn Education Finance to assist aspiring individuals to achieve their educational goals. An affordable and Shariah compliant product, students can now get financing for college and university degrees and diplomas in addition to short term educational programs offered by local and international …

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MENA startup update: $517mln investments YTD; UAE top in funding; rise in fintech deals

The UAE remains top recipient of funding, Egypt tops in deals The startup ecosystem is growing quickly in the Middle East and North Africa (MENA), with $517 million being invested in 354 deals in 2019 so far. 2019 year-to-date (YTD) saw $517 million in total funding, an increase of 30 percent compared to the same period of 2018, with a …

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National Bank of Fujairah partners with Fintech Galaxy

Fintechs which participated NBF’s challenge presented solutions for account aggregation and instant settlement and digitisation for the Murabaha process National Bank of Fujairah (NBF) has announced its partnership with Fintech Galaxy, a fintech digital crowdsourcing platform. Recently the bank participated in the MENA Fintech hackathon organised by Fintech Galaxy, which brought together the region’s leading banks, regulators, industry experts and …

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