Etihad Credit Insurance (ECI) has joined forces with Wio Bank to enhance the export potential of UAE businesses through the “Xport Xponential” program. This landmark agreement was signed by H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, and Jayesh Patel, CEO of Wio Bank. Wio Bank, a pioneering digital banking platform, is dedicated to […]
RAKBANK has reported impressive financial results for the first half of 2024, showcasing significant growth in key metrics. The bank’s net profit before tax surged by 33% to AED 1.2 billion, while net profit after tax increased by 21% year-on-year, reaching AED 1.1 billion. Total income for the period rose by 8.7% to AED 2.3 […]
Dubai, UAE – Al Ansari Financial Services PJSC (“AAFS” or the “Company”) (DFM: ALANSARI), a leading integrated financial services group in the UAE, has signed a Sales and Purchase Agreement (“SPA”) to acquire 100% of BFC Group Holdings W.L.L. (“BFCGH”), a prominent foreign exchange and remittance group based in Bahrain. The acquisition, valued at USD […]
Dubai, United Arab Emirates: Pluto, the UAE’s leading home-grown end-to-end spend management platform, has achieved a significant milestone by securing an In-Principle approval for its Payment Services Business from the Dubai Financial Services Authority (DFSA). This pivotal achievement underscores Pluto’s commitment to offering cutting-edge financial infrastructure to small and medium-sized businesses (SMBs) and corporations operating […]
Dubai, UAE – July 29, 2024 – Network International (Network), the leading enabler of digital commerce across the Middle East and Africa, and Biz2X®, a global fintech with a robust presence in the U.S., India, and Australia, today announced a groundbreaking partnership. The collaboration aims to unlock new sources of capital for Network’s SME merchants […]
Dubai, UAE – Watermelon Ecosystem, a rapidly growing startup transforming the food and beverage (F&B) industry, has successfully closed its $4 million Series A funding round. The new investment, which grants investors a 13.8% capital shareholding, implies a post-money valuation of $29 million for the company. This follows a successful seed round concluded in 2022. […]
Left, Ahmed Shabrawy, CIO + Right, Karim Khorshed, CEO
Abu Dhabi, UAE – Stride Ventures, a leading global venture debt firm based in India, has announced a significant milestone in its international strategy with its first venture debt investment in the Gulf Cooperation Council (GCC) region. The firm is committing USD 1 million to Maalexi, a dynamic risk management platform, as part of a […]
Mashreq Bank announced a 14% year-on-year increase in net profit for the first half of 2024, amounting to AED 4.0 billion. This growth reflects strong business performance and a positive economic outlook, supported by robust customer activity and a stable macroeconomic environment. In a statement, H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq, expressed confidence […]
Dubai, UAE – July 25, 2024– Mamo, a pioneering fintech startup based in the United Arab Emirates, has successfully completed a $3.4 million funding round. This round was led by existing investor 4DX Ventures and the Dubai Future District Fund (DFDF), with participation from Cyfr Capital. The newly secured funds will fuel Mamo’s mission to […]