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February 27, 2020

Image courtesy of Economic Development Board of Bahrain

Bahrain’s government has made vital steps to encourage entrepreneurship to stimulate its economy. In doing so, it has created a startup-friendly environment, with easy access to funding, long-term visas and a regulatory environment that is responsive to startup needs.

One area where it seems to be excelling is in financial tec...

February 25, 2020

The fintech says it wants to improve its customer offering and strive towards profitability in 2020

Revolut's co-founders: CTO Vlad Yatsenko and CEO Nik Storonsky ( Revolut )

London-based fintech Revolut has raised £387 million ($500 million) at a £4.2 billion ($5.5 billion) valuation, making it one of the highest valued financial tech companies in the world.

The company l...

February 25, 2020

Tencent Holdings, the company that developed mobile payment app WeChat Pay, has teamed up with Network International to allow for the service to be available across the United Arab Emirates, according to a release on Monday (Feb 24).

Network is the leading enabler of commerce that’s digitally based, through the Middle East and Africa.

WeChat Pay is a payment service that comes with...

February 22, 2020

Financial services startups raised less money in 2019 than they did in 2018 as VC firms looked to back late-stage firms and focused on developing markets, a new report has revealed.

According to research firm CB Insights’  annual report published this week, fintech startups across the world raised $33.9 billion* in total last year across 1,912 deals*, down from $40.8 billion they...

February 18, 2020

Organized by the College of Banking and Financial Studies in collaboration with Bank Nizwa

Muscat: In an exclusive collaboration between the College of Banking and Financial Studies and Bank Nizwa, the 1st Oman Islamic Finance Youth Forum under the theme ‘The New Age (FinTech) Islamic Finance and the Youth of Oman’ was concluded. The event highlighted how FinTech can boost and gro...

Dubai-headquartered Marshal, established in 1981, is the largest and oldest enabler of payment technology in the Middle East

Hisham Alrayes, CEO of GFH.

Bahrain-based GFH Financial Group (GFH) on Tuesday announced the acquisition of a 70 percent stake in Marshal, a pan-MENA Fintech company.

The acquisition was made through its investment banking arm, GFH Capital.

Dubai-headquartered...

February 6, 2020

In 2019, 80% of central banks were engaged in work related to central bank digital currency (CBDC), compared with 70% the previous year. Amongst these, 40% had progressed from conceptual research to experiments or proofs-of-concept, and 10% had developed pilot programs, according to a new survey by the Bank for International Settlements (BIS).

The study, which was carried out...

February 5, 2020

Mode, a financial services firm backed by Twitter co-founder Biz Stone, has rolled out its Bitcoin (BTC) banking app on iOS devices.

The British company made its app available globally, with the exception of the United States, fintech-focused media outlet Finextra reported on Feb. 4. Customers can start using the app with as much as £50 ($65) and buy Bitcoin with bank cards or thr...

February 5, 2020

Everyone wants to lend to small businesses, as the rise of financial technology continues to bring constituent actors closer in terms of characteristics. Thinking in general terms, the growing focus on small business loans among fintech B2B and finservices companies feels directionally similar to the increase in consumer-oriented fintech startups that added banking features last...

February 4, 2020

Azimo, the U.K. money transfer start-up taking on the likes of Western Union and MoneyGram, has raised 20 million euros ($23 million) in debt financing from the European Union.

The loan from the European Investment Bank (EIB), which is the lending arm of the EU, will help the financial technology firm build out its payments platform and expand its presence in Poland.

Azim...

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