MENA Fintech Association

Bybit Secures UAE Virtual Asset Platform Operator License from SCA

Bybit has secured a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the UAE. The license allows Bybit to offer its full range of global products and services in compliance with UAE regulations. It follows the firm’s receipt of In-Principle Approval (IPA) from the SCA in February, with support from […]

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Abu Dhabi Airports, Al Hail Holding to Pilot Traveller Digital Wallet

bu Dhabi Airports and Al Hail Holding have signed a MoU to strengthen the UAE’s position as a global hub for tourism, financial technology, and sustainable mobility. The partnership outlines plans to explore next-generation payment solutions, including stablecoin and digital asset technologies, to enable faster and more secure transactions. Al Hail Holding, together with its […]

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Revolut Co-founder Nik Storonsky Relocates to UAE After UK Tax Rule Change

Nik Storonsky, co-founder of the digital banking app Revolut, has become the latest billionaire to relocate from the UK following the government’s decision to scrap a long-standing tax break earlier this year. According to Forbes, Storonsky now lists the UAE as his place of residence in a UK corporate filing for his family office, released […]

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Wio Bank Surpasses AED 50 Billion in Customer Deposits

Wio Bank PJSC has surpassed AED 50 billion in total customer deposits in less than three years since its launch. The bank’s total customer base has grown by 72% year-on-year, driven by a 93% increase in Wio Personal customers and a 42% rise in Wio Business customers. Over the same period, customer deposits have almost […]

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UK Fintech Verto Launches in UAE to Boost Cross-Border Payments

London-based fintech firm Verto has officially launched its operations in the UAE, marking a significant step in strengthening cross-border payment capabilities between the UAE and emerging market currency corridors, particularly in Africa. Processing over US$25 billion annually for clients such as Unilever and Maersk, the company’s platform aims to provide a faster, more secure, and […]

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Huru Launches to Expand Financial Access for UAE’s Unbanked

Huru, a UAE-based fintech company licensed by the Central Bank of the UAE (CBUAE), has entered the market with the aim of serving the country’s unbanked and underbanked communities through a comprehensive financial management app. The company seeks to address long-standing gaps in access to essential financial services and promote financial inclusion. The platform integrates […]

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UAE and Türkiye Central Banks Agree on Currency Swap and Payment Cooperation

The Central Bank of the UAE (CBUAE) and the Central Bank of the Republic of Türkiye (CBRT) have signed a bilateral currency swap agreement between the UAE dirham (AED) and the Turkish lira (TRY), alongside two MoUs. The swap agreement, valued at AED 18 billion and TRY 198 billion, is intended to support bilateral trade […]

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Emirates Islamic, Amazon UAE and Mastercard Launch First Amazon Credit Card in MENA

Emirates Islamic has partnered with Amazon UAE and Mastercard to launch the first Amazon-branded credit card in the Middle East and North Africa. The card, which will be available exclusively in the UAE, is designed to provide lifestyle-related benefits and flexible payment options in line with the country’s growing digital retail sector. The Amazon Emirates […]

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UAE Launches National Campaign to Boost Entrepreneurship

Sheikh Mohammed bin Rashid, Vice President, Prime Minister, and Ruler of Dubai, has launched “The Emirates: The Startup Capital of the World”, a national campaign to strengthen the UAE’s position as a global centre for entrepreneurship and innovation. The initiative is overseen by the Ministry of Economy and Tourism, in cooperation with the UAE Government […]

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Habib Al Mulla and Partners, Emirates NBD Partner to Support Emirati Entrepreneurs

Habib Al Mulla and Partners, a law firm based in the UAE, has signed a MoU with Emirates NBD. The agreement forms part of Project 54, an initiative led by the firm to support Emirati entrepreneurs. Dr Habib Al Mulla, Founder of Habib Al Mulla and Partners, said: “As part of our mission to empower […]

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