SoFi’s fully reserved U.S. dollar stablecoin will support settlement across the Mastercard network, including for SoFi Bank, N.A. Galileo, SoFi’s technology platform, will be among the first to offer its clients and their issuing banks the choice to settle transactions using SoFiUSD The Mastercard Multi-Token Network will look to support SoFiUSD, help expand interoperability between […]
In response to current regional developments, Gulf Bank has confirmed that its core banking systems and technical infrastructure are operating at full capacity, enabling both individual and corporate clients to conduct their transactions seamlessly and securely across all service channels, including its branch network and digital platforms. The Bank has activated its business continuity and […]
The Central Bank of Kuwait (CBK) confirms the banking sector’s high operational readiness and resilience, ensuring uninterrupted banking services across all circumstances. This comes in light of the Central Bank’s directives to local banks to strengthen risk management systems, enhance business continuity and emergency plans, upgrade digital infrastructure, and conduct regular simulation exercises covering various potential scenarios. […]
Saudi leads with a $77.2bln market, according to advisory firms DinarStandard and Elipses. The global Islamic fintech market is forecast to reach $341 billion by 2029, driven by rising appetite for digital assets and robust activity in the Middle East. The sector, valued at $198 billion in 2024/25 in terms of transaction volume, is poised […]
Abu Dhabi: H.E. Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates, affirmed that the UAE’s banking and financial sector continues to demonstrate the highest levels of resilience and stability. He noted that banks, financial institutions, and insurance companies across the country are operating normally and continue to deliver their services to […]
Manama, Bahrain – Investcorp, a global alternative investment firm, today announced that its GP staking arm, Investcorp Strategic Capital Group (ISCG), has closed on commitments of over $1.25 billion to Investcorp Strategic Capital Partners II and associated vehicles (together, “ISCP II”), inclusive of $1.1 billion of fund commitments and an additional $155 million of committed co-investment […]
Packaging becomes the sixth consumer-focused vertical with ISEM as an anchor Abu Dhabi, UAE – 2PointZero Group PJSC (ADX: 2PointZero), a next-generation investment powerhouse focused on energy and consumer sectors, announced today that it has formally completed the transaction to acquire a majority position in ISEM, a leading European packaging group serving beauty, fashion, luxury, nutraceuticals […]
Dubai: TruDoc Healthcare, the GCC’s premier virtual-first, full-stack healthcare platform, today announced the successful closure of a $15 million Pre-Series B funding round. The round saw significant participation from the Al Nahyan family and the Al-Ketbi family, alongside continued support from existing investor Pulsar Capital. The investment reflects growing confidence in healthcare models that move […]
Building on last year’s Alizz Business SME Development Programme and reinforcing their shared commitment to strengthening Oman’s entrepreneurial ecosystem, Alizz Islamic Bank and Sharakah upscale the second edition of the Programme, reaching out to more businesses and expanding its reach across the Sultanate. The renewed partnership will empower an additional 15 high-potential SMEs this year […]
Dubai: ICICI Prudential Asset Management Company Limited (ICICI Prudential AMC), one of India’s largest asset management company, today inaugurated its branch in Dubai International Financial Centre (‘DIFC’), marking a significant step in its overseas expansion strategy and reinforcing its commitment to serving institutional and wealth investors across the Gulf Cooperation Council (GCC)and Africa region. The […]