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Tag Archives: fintech

Growing role of FinTech in the Middle East

For the region to produce unicorns, the FinTech companies will need to focus on organic and inorganic growth strategies The FinTech sector has matured over the past couple of years and now appears to have entered a new phase of evolution. The perception of the FinTech players have evolved from being a disruptor to a collaborator, which is resulting in …

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Strong industry support for ADGM’s global quest for Fintech innovation

FinTech Abu Dhabi reaches China this week, in the cities of Shenzhen and Beijing Abu Dhabi Global Market (ADGM), the award-winning International Financial Centre in Abu Dhabi, is in Shenzhen (China’s tech megacity) on 5 August and Beijing (China’s capital silicon valley) on 7 August as part of its FinTech global tour to recruit innovative FinTech start-ups to showcase their …

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Mastercard partners with Bahrain FinTech Bay to foster fintech innovation in Bahrain

Technology company to leverage its extensive experience to contribute to the development of Bahrain’s startup sector Manama, Bahrain: Highlighting its commitment to promoting joint efforts in support of Bahrain’s fintech sector, Mastercard, a leading technology company in the global payments industry, today partnered with Bahrain FinTech Bay to support the development of Bahrain’s fintech industry, and the growth of Bahraini …

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UAE-based leading African changemaker awarded for innovation in fintech for his company

Mahmood Ahmadu recognized by Euro-Knowledge Awards for payment services provider Innovate 1 Pay Euro-Knowledge – an international consultancy and advisor to leading businesses and governments – in association with FIN Magazine – recognized the achievements of African change-makers in industry, policymaking and business in a grand ceremony recently held at the House of Lords, London. Among those receiving merit, UAE-based …

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The First Fintech for Sustainability Hackathon launched by BENEFIT in MENA region kicks off with 50 participants

The goal of the hackathon is to create awareness on how to leverage financial technologies to accelerate progress on the SDGs The first “BENEFIT Fintech Hackathon for Sustainability” in the MENA Region hosted by Bahrain Fintech Bay in partnership with The Manama Hub of the Global Shapers Community officially kicked off with 50 participants. Strategic Partners include the Central Bank …

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Third MEA FinTech forum launched

Central Bank of Bahrain Governor Rasheed Al Maraj yesterday called for developing a practical approach to finding the right balance between enabling innovation and protecting the financial system. Speaking during the third Middle East and Africa FinTech Forum, Al Maraj warned: “We cannot sit idle and not provide the leadership and innovative thinking that this industry needs to grow.” He …

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Kuwait’s central bank sets up test ground for fintech

Bahrain has created a fintech regulatory unit and Abu Dhabi and Dubai is cultivating a financial startup scene. Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services, it said on Monday. Kuwait’s regulatory testing framework, known as a ‘sandbox’, will include four phases, with representatives from local banks joining a …

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Bahrain targets ICT to become fintech hub

Bahrain’s Economic Development Board (EDB) has made the kingdom a data destination for Amazon Bahrain’s Economic Development Board (EDB) has made the kingdom a data destination for Amazon and is now keen to leverage the Kingdom’s telecoms connectivity and IT knowledge pool to become a regional fintech hub, said a top official. Khalid Al Rumaihi, CEO of EDB, was addressing …

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DIFC will make first investment from $100mln fintech fund “shortly”

Fund is “in the process of being seeded and structured as we speak”, says chief business development officer Salman Jaffery The first investment to be made from the $100 million financial technology (fintech) fund launched by Dubai International Financial Centre (DIFC) is set to be made “shortly”, according to the centre’s chief business development officer, Salmaan Jaffery. Speaking to Zawya …

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Lack of regulation may have hindered fintech development – MEVP CEO

The amount invested in fintech firms around the world in the first half of 2018 has surpassed the figure for the whole of 2017 Investments in financial technology (fintech) companies in the Middle East and North Africa (MENA) have been lower than in other parts of the world due to the lack of a regulatory framework, meaning that few firms …

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