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.
- Cryptocurrency exchange BitOasis to add Ripple to its platform.
- Gulf Business interviews Dubai Chamber president and CEO Hamad Buamim on the importance of developing a culture of innovation.
- Saudi Arabia’s mada payment system chooses FIME to develop bespoke cloud-based testing platform and certification process.
MENA Fintech Fact UAE startups received 70% of all investment amounts in 2017, with Saudi Arabia seeing the biggest pick up in investments, a gain of 4%. The two most active VC firms in 2017 were 500 Startups and Middle East Venture Partners.
- Dubai-based IBC Group-owned Acumen Advertising to now accept payment in digital currency.
- Tehran Stock Exchange to reduce settlement cycle to T+2 from three business days.
- Bahrain Fintech Bay (BFB) and Fintech Consortium (FTC) team up with U.S.-based fintech RobustWealth to provide robo advisory services.
Thought Leadership – Challenges, Successes and Opportunities of Financial Inclusion in MENA – A Webinar on Fintech in the Middle East with Hans Henrik Christensen (CEO, Dubai Silicon Oasis Authority) and Devie Mohan (CEO, Burnmark). Thursday, February 8.
- Egyptian Center for Public Opinion Research (Baseera) reports value of financial transactions via Fawry electronic payment network in Egypt grew to EGP 25 billion ($1.4 billion USD) in 2017.
- Luxury retailer Al Tayer Insignia announces acceptance of mobile payment platform, Alipay, at select outlets.
- Forbes presents its list of the Top 100 Startups in the Arab World for 2017.