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Fintech News from the Middle East and North Africa (MENA)


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As Finovate prepares for its first conference in the Middle East, here’s a round up of recent fintech news and need-to-knows from the MENA region. Learn more about how to join us in Dubai in February for FinovateMiddleEast.

  • Jordan’s first bank, Jordan Ahli Bank launches beta version of chatbot service.
  • Alrajih Islamic Bank for Investment and Financing selects Path Solutions’ Islamic core banking system, iMAL.
  • Mortgagetech Meets Crypto Assets: New Sharia-compliant crypto currency for purchasing property slated for June launch in Dubai.

MENA Fintech Fact: 86% of MENA area adults do not have access to a bank account. But the number of startups in the MENA region doubled from 46 to 105 from 2012 to 2015.

  • Crowdfunding platform for farmers, BOOSTani wins first prize at Startup Weekend Bekaa in Lebanon.
  • Egyptian payments firm Fawry announces plans to expand nationwide in 2018.
  • ACI Worldwide partners with HyperPay to bring real-time fraud prevention solutions to ecommerce merchants in the MENA region.

Thought Leadership Fintech – 6 disrupters facing the Middle East – Mossadiq Ali Ghanghro, Middle East Director in Transaction Services for PwC, writes about top themes in fintech in the MENA region.

  • Bahrain Middle East Bank to deploy OneSumX from Wolters Kluwer for core banking and reporting.
  • NCR to introduce bitcoin-enabled ATMS in the UAE. Join Finovate in Dubai in March for FinovateMiddleEast.
  • Moneyfellows wins MetLife Foundation Inclusion Plus competition in Egypt and Lebanon.