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Fintech Galaxy has announced the launch of FINX Comply, a set of Open Banking compliance services for customers and clients in the region of the UAE.
product launch, expansion, Open Banking, Open Finance, banking, online banking, mobile banking, digital banking, financial services, financial institutions
The first cross-border settlement for precious metals using the digital yuan CBDC, known as e-CNY, was completed on 20 December 2023.
CBDC, digital currency, central bank, settlement, digitalisation
Airtel Money Tanzania and TerraPay have introduced an international remittance service, allowing the former’s customers to transact using their Airtel Money accounts in the UAE.
mobile payments, remittance, cross-border payments, partnership, POS
The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) have entered into a Bilateral Currency Swap Agreement between the UAE Dirham and the Egyptian Pound.
partnership, banking, financial services, financial institutions
Huawei Mobile Services (HMS) has partnered with multiple UAE banking apps to improve the digital banking landscape in the region.
mobile banking, digital wallet, partnership, financial services
Astra Tech has partnered with Ant Group, a digital payment platform, to launch Alipay+, a cross-border digital payments solution, in the UAE.
partnership, digital payments, cross-border payments, online payments, expansion
UAE-based Network International has introduced WeChat Pay acceptance on its POS terminals across the United Arab Emirates.
mobile payments, digital payments, cashless, digital currency
India and Indonesia have engaged in talks to settle bilateral transactions in local currencies and link up their fast payments systems.
partnership, cross-border payments, transactions , local payment method, trade finance
The Central Bank of UAE has revealed its plans to complete the first phase of its central bank digital currency project in mid-2024.
CBDC, central bank, digital currency, banks
Wahed, a US-based fintech serving Muslims, has opened a physical branch in central London and launched a new gold-backed debit card.
product launch, SMEs, fintech, debit card, funding
Switzerland-based Bank for International Settlements has endorsed a global standard for banks’ exposure to crypto assets.
central bank, cryptocurrency, report, regulation
The Central Bank of the United Arab Emirates (CBUAE) has announced a plan to launch an Instant Payment Platform (IPP) in 2023 to facilitate financial transactions.
product launch, payments , online payments, real-time payments, instant payments, payment processor, payments infrastructure
Serena Sebastiani from PwC Middle East shares insights into the Open Banking state of affairs in the Gulf Cooperation Council (GCC) region.
Open Banking, Open Finance, Open Data Economy, regulation
The Central Bank of the United Arab Emirates (CBUAE) has announced the completion of its CBDC pilot in partnership with commercial banks in four jurisdictions.
central bank, CBDC, cross-border payments, partnership
Zand, a digital banking startup which provides retail and corporate services, has been granted a banking licence from the Central Bank of the United Arab Emirates.
digital banking, banks, banking license, startup, central bank
Central Bank of Indonesia and that of the United Arab Emirates have signed a memorandum to improve payment system cooperation.
partnership, central bank, online payments, contactless payments, money laundering
Saudi Central Bank (SAMA) Governor Fahd Al-Mubarak has announced that the Kingdom will grant operating license to more digital banks.
digital banking, financial inclusion, banking, banking license
The Central Bank of the United Arab Emirates (CBUAE) has continued efforts to prepare the country for digital payments with a regulation licensing retail payment services.
central bank, regulation, payment processing, digital payments, Issuer
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have worked together to study the application of central bank digital currencies (CBDC).
digital currency, DLT, CBDC, PBOC, cross-border payments
Finverity has partnered with the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM), Abu Dhabi’s international financial centre, to boost supply chain finance.
banks, fintechs, supply chain finance, UAE, data, KYC, credit scoring, risk scoring, lending, finanacial data