London/Riyadh – Fina, the embedded finance platform of Saudi-based B2B enablement and fintech ecosystem SILQ, has secured a US$75 million (SAR 282M) Shariah-compliant facility from Fasanara Capital Ltd (“Fasanara”), a London-based global investment manager with approximately US$6 billion (SAR 22.5B) in assets under management. The facility will support Fina’s continued growth of embedded working capital […]
Dubai, UAE, Al Ansari Financial Services PJSC (DFM: ALANSARI), the leading financial institution in the GCC, has strengthened its regional cross-border payments platform through new partnerships between its subsidiaries, Bahrain Financing Company (BFC) in Bahrain and Bahrain Exchange Company W.L.L. (BEC) in Kuwait with Western Union. The partnerships broaden customer access to Western Union’s global money transfer network […]
Tangem cold wallet brings self-custody of ADI Chain ecosystem tokens, including $ADI and DDSC, to one of the UAE’s leading retailers, giving retail buyers a simple path to secure self-custody for digital assets. Abu Dhabi, UAE: ADI Chain and Tangem, the Swiss hardware wallet maker, are launching a co-branded hardware wallet available for purchase at Virgin […]
Alibaba Group-backed Ant International said on Monday it had raised about $1.2 billion in an equity financing round, with proceeds earmarked to expand its cross-border payments business and AI-powered commerce solutions globally. The Singapore- and Shanghai-based financial technology company said existing shareholders, including Ant Group and Alibaba Group, participated in the fundraising alongside international investment institutions. […]
Businesses operating across Pakistan, Saudi Arabia, and the UAE know the frustration better than anyone. You land a client in Europe or the United States, you deliver the work, and then the payment process begins. Your Wise account gets flagged. Your Payoneer withdrawal is delayed or blocked entirely. You wait five days for a SWIFT […]
UAE: Network International (Network), a leading fintech company across the Middle East and Africa, has extended acceptance of ‘Jaywan’ — the UAE’s Domestic Card Scheme — to online payments, enabling cardholders to use Jaywan across Network’s e-commerce merchant network. Jaywan is the domestic card scheme, launched by Al Etihad Payments, a subsidiary of the Central Bank of the […]
Riyadh, Saudi Arabia – Saudi Venture Capital (SVC) has announced its investment in SEEDRA Ventures Fund II, a venture capital fund managed by SEEDRA Ventures, an entity licensed by the Capital Market Authority of Saudi Arabia. While sector-agnostic, the Fund is geared towards technology and tech-enabled startups, including Artificial Intelligence (AI), FinTech, and Proptech. The Fund primarily […]
These ratings place FAB at the top end of global bank credit quality, underpinned by strong standalone fundamentals. Abu Dhabi, First Abu Dhabi Bank (FAB), the UAE’s global bank, has reinforced its position as the highest-rated banking group in the MENA region and among the highest-rated globally, with AA- or equivalent ratings and stable outlooks […]
Nasdaq Dubai welcomed the listing of a $300 million Additional Tier 1 (AT1) Perpetual Sukuk issued by Ajman Bank marking the Bank’s first capital securities transaction. The $300 Million Additional Tier 1 Perpetual Non-Call 5.5-year Sukuk was structured under a Mudaraba arrangement and carried a profit rate of 6.50 per cent. The Additional Tier 1 […]
By Rishi Patel, Founder and CEO of Interpolitan Money. Recent disruption between Saudi Arabia and the UAE, and within the wider Middle East, shows why internationally active families and businesses need financial infrastructure built for a less predictable world. For an international business, a payment is rarely just a payment. It might release goods or […]