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.
Blockchain to transform global Islamic finance industry: experts
The adoption of blockchain, artificial intelligence, cryptocurrencies and other advanced technologies are expected to have a positive impact on the global Islamic finance sector and create new benefits and opportunities for banks and consumers alike, according to experts at GIES 2018.
Emirates NBD continues digital transformation with new Hortonworks partnership
Emirates NBD has signed a new strategic partnership with Hortonworks, the industry leader in connected data platforms.
RAKBANK to tie-up with three new fintech firms
UAE based RAKBANK says it is in the process of tying up with three new fintech firms, in an attempt …
Dubai residents can soon pay school fees, bills via blockchain payment platform
Dubai citizens and residents will soon be able to make digital payments for school fees, bills and retail purchases with a stable, digital currency after a partnership between blockchain payment providers and emcredit – Dubai’s Credit Bureau.
Abu Dhabi accelerates services with new digital payment platform
The Abu Dhabi Smart Solutions and Services Authority (ADSSSA) formally launched its ‘Abu Dhabi Government Digital Payment platform’ (ADPay).
Cryptocurrency threats climb in the first nine months of the year: report
Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, Reuters reported.
Why Kuwait’s Central Bank will spend big on tech
Tariq Al Usaimi, the newly appointed head of digital strategy for the Central Bank of Kuwait, has said that the …
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.
UAE bank unveils region’s first sound-based payment tech
First Abu Dhabi Bank (FAB has launched a new sound-based payment system through its digital wallet payit.
UAE’s Emirates NBD set to launch services via chat app
Emirates NBD has announced that it will soon launch customised banking services via WhatsApp in the UAE.
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.