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Fintechnews Middle East

ADGM Appoints Rashed Al Balooshi as CEO of Registration Authority

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ADGM, the international financial centre of the UAE capital, has announced the appointment of Rashed Abdulkarim Al Balooshi as Chief Executive Officer of its Registration Authority (RA), with immediate effect. The move is part of ADGM’s ongoing efforts to strengthen its leadership and advance its strategic objectives in line with Abu Dhabi’s long-term economic vision. […]

The post ADGM Appoints Rashed Al Balooshi as CEO of Registration Authority appeared first on Fintechnews Middle East.

IHC Launches AI-Powered Reinsurance Platform RIQ in Abu Dhabi

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International Holding Company (IHC), a global investment firm, has announced the official launch of Reinsurance Intelligence Quotient (RIQ), a reinsurance platform based in Abu Dhabi Global Market (ADGM). This follows an earlier announcement and reflects the joint efforts of IHC, BlackRock, and Lunate to expand in the global insurance sector through the use of technology […]

The post IHC Launches AI-Powered Reinsurance Platform RIQ in Abu Dhabi appeared first on Fintechnews Middle East.

Stake Launches First Real Estate Development Fund in Saudi Arabia

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Stake, a real estate investment platform based in Dubai and Riyadh, has launched its first private real estate development fund in Saudi Arabia. The fund is located in Riyadh’s Al Malqa district, near major commercial and government zones including the King Abdullah Financial District and the Diplomatic Quarter. It is fully Shariah-compliant and open to […]

The post Stake Launches First Real Estate Development Fund in Saudi Arabia appeared first on Fintechnews Middle East.

MoneyGram and tiqmo Launch International Transfer Service in Saudi Arabia

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MoneyGram, a US-based global payments network, has announced a partnership with tiqmo, a financial technology firm headquartered in Saudi Arabia. The collaboration allows tiqmo users in the Kingdom to send international money transfers to more than 200 countries and territories through MoneyGram’s global infrastructure. The integration gives tiqmo users access to over five billion digital […]

The post MoneyGram and tiqmo Launch International Transfer Service in Saudi Arabia appeared first on Fintechnews Middle East.

AED 2 Billion in Open Finance Payments Tracked in UAE

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Lean Technologies, a financial infrastructure provider in MENA has published a comprehensive whitepaper detailing how Open Finance is redefining payments in the UAE. Titled The Dawn of Open Finance – Payments, the report serves as a reference for fintech companies, digital platforms, financial institutions and policymakers seeking to understand how regulatory frameworks and new technologies […]

The post AED 2 Billion in Open Finance Payments Tracked in UAE appeared first on Fintechnews Middle East.

Switzerland’s Leonteq Partners with Emirates Islamic on Shari’a-Compliant Structured Products

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Leonteq, a Zurich-based fintech company, announced today the formation of a partnership with Emirates Islamic, a financial institution in the UAE, to manufacture and distribute Shari’a-compliant structured products. The collaboration builds on Leonteq’s strategic move into the Gulf region. In 2022, the firm introduced a Shari’a-compliant trust certificate issuance programme through IBDAA Certificate Issuer (IBDAA), […]

The post Switzerland’s Leonteq Partners with Emirates Islamic on Shari’a-Compliant Structured Products appeared first on Fintechnews Middle East.

China and UAE Ink Deal to Boost Cross-Border Payment Cooperation

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China’s Cross-Border Interbank Payment System (CIPS) and the Central Bank of the United Arab Emirates (CBUAE) have signed a MoU to strengthen cooperation on cross-border payments, the People’s Bank of China (PBOC) announced. According to the statement by the PBOC, which oversees and regulates CIPS, the agreement is expected to enhance payment infrastructure and improve […]

The post China and UAE Ink Deal to Boost Cross-Border Payment Cooperation appeared first on Fintechnews Middle East.

EU to Remove UAE from Money Laundering Watchlist

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The European Union (EU) is set to remove the UAE from its list of high-risk countries for money laundering, a move the Gulf nation has long been advocating for. According to Bloomberg, the European Commission, the EU’s executive branch, has removed the UAE from its list of “high-risk third countries with strategic deficiencies in their […]

The post EU to Remove UAE from Money Laundering Watchlist appeared first on Fintechnews Middle East.

UAE Central Bank Fines Six Exchange Houses AED 12.3 Million Over AML Breaches

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The Central Bank of the UAE (CBUAE) has imposed financial penalties totalling AED 12.3 million on six exchange houses operating in the country. These sanctions were issued in accordance with Article (14) of Federal Decree Law No. (20) of 2018 concerning Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and the financing of illegal […]

The post UAE Central Bank Fines Six Exchange Houses AED 12.3 Million Over AML Breaches appeared first on Fintechnews Middle East.

ADGM Implements New Regulatory Framework for Digital Assets

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The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has announced the immediate implementation of amendments to its regulatory framework for digital assets. These amendments follow extensive industry engagement and feedback received on Consultation Paper No. 11 of 2024. The key focus of the changes lies in refining the process through which […]

The post ADGM Implements New Regulatory Framework for Digital Assets appeared first on Fintechnews Middle East.

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