The first three months saw the bank deliver double-digit pretax earnings growth, significant asset quality improvement, and industry-first sustainability milestones Operating Revenue of AED 3.2 billion, growth of 5% YoY. Pre-tax Profit of AED 2.1 billion, solid growth of 14% YoY. Balance sheet expanded by 3% YTD to AED 355 billion. Net Financing portfolio grew […]
Hushday, the region’s first premium, invitation-only flash sales platform, has raised over AED 2 million (USD $550,000) in pre-seed funding from regional tech investors. Inspired by the success of European giants like Veepee and Showroom Privé, this UAE-born startup aims to reinvent premium retail for a new generation of shoppers and brands. Dubai – As global […]
NEW YORK- Alpaca, a self-clearing broker-dealer and brokerage infrastructure API, announced its $52 million Series C funding round today from its new office in Manhattan, New York. This significant milestone further accelerates Alpaca’s global expansion and development of its industry-leading product offerings. This round saw participation from new and returning investors, including Derayah Financial, 850 […]
Source: Business Recorder KARACHI: JazzCash, Pakistan’s leading digital financial services platform, has announced plans to expand its footprint in the Gulf region as part of its strategy to streamline cross-border payments for Pakistani users. Speaking at Money20/20 Asia, Murtaza Ali, President of JazzCash, unveiled a strategic partnership with du Pay, a UAE-based financial services provider. This collaboration enables seamless […]
The license will boost IFX Payments’ regional footprint across the UAE, positioning itself for growth in one of the world’s fastest-growing fintech hubs. In a strategic move to enhance its service capabilities and strengthen its compliance standing, IFX Payments has received a Category 3C license from the DubaiFinancial Services Authority. This will allow the company to […]
New York: Omani startup 44.01 was today announced as the winner of the Air category of the XPRIZE’s carbon removal competition and awarded a $1 million XFACTOR prize. 44.01’s project, based in Fujairah, UAE, uses Direct Air Capture technology to capture CO2 from the air, which 44.01 then mineralises, ensuring it can never escape back into […]
Ajman, UAE: ruya (رويا), the UAE’s digital-first Islamic bank, is proud to announce a pioneering step in the region’s banking industry. In an unprecedented move, ruya has become the first Islamic bank globally to enable customers to buy and sell virtual assets, commonly known as “cryptocurrencies” including Bitcoin, directly through its mobile app. This service is part of ruya’s broader […]
Abu Dhabi, UAE – Pay10, a leading Alternative Payment Method (APM) provider headquartered in the UAE announces that it has become the first fintech company to go live in production on the Central Bank of the UAE’s (CBUAE) Open Finance Framework, authorizing it to provide payment initiation services including variable recurring payment. This milestone marks the first […]
Doha, Qatar – As part of its ongoing transformation journey, AlRayan Bank has officially launched the first-of-its-kind standalone Self-Service Digital Zone (ALRAYAN GO Kiosk) in the State of Qatar. This innovative concept reflects the bank’s continued commitment to enhancing customer experience through digitalization while upholding high service standards. The Self-Service Digital Zone is designed to bring […]
Dubai, United Arab Emirates – PayPal, the global digital commerce platform, has today opened a new regional hub in Dubai, which serves as the company’s first ever location in the Middle East and Africa. The Dubai Internet City site strengthens PayPal’s commitment to its customers and partners in the region and commitment to enabling millions more […]