Friday , 19 April 2019

Tag Archives: fintech

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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DIFC collaborates with France’s Finance Innovation to promote fintech growth

The collaboration will support the development of the fintech ecosystem in both markets Dubai International Financial Centre (DIFC) has signed a Memorandum of Understanding (MoU) with Finance Innovation, France’s official innovation cluster for the financial industry, based in Paris. The collaboration will support the development of the fintech ecosystem in both markets and facilitate knowledge sharing and collaboration between their …

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MEA blockchain market likely to top $80mln in 2018

Future Blockchain Summit aims to demystify blockchain and unlock multi-billion dollar opportunities for the global blockchain industry Spending on blockchain solutions in the MEA region is set to grow from $38.9 million spent in 2017 to $80.8 million by the close of 2018, said the organisers of the inaugural Future Blockchain Summit opening in Dubai, UAE today (May 2). Spending …

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Bahrain is about to collaborate with a country to support the FinTech sector, find out who it is

According to the Bahrain Economic Development Board (EDB) Financial Services Executive Director, David Parker, Bahrain is planning on collaborating with Malaysia’s financial sector since both markets are in similar development phases when it comes to the FinTech sector. “We can work on our strengths because Malaysia and Bahrain both have relatively newly implemented policies when it comes to fintech. I …

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UAE leads MENA in digitisation: Report

Digitisation continues to take the global economies by storm The UAE is now leading the MENA region with an impressive 16.4 percent in digital penetration, according to a detailed report by Al Masah Capital Limited titled, “Digital Banking – ME Trends”. “Digitisation continues to take the global economies by storm. As a revolution whose uptake in the Middle East and …

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