Pedro Sousa Cardoso

Proud to see ADIB leading the way in making Sukuk investments more accessible with our fractional Sukuk offering. This is not just a milestone in Islamic finance but a step toward democratizing access to digital assets as well. By opening up these opportunities, we’re supporting financial inclusion and bringing ADIB closer to its #ADIB2035 vision. Exciting times ahead for Islamic finance and digital asset innovation! #Sukuk #IslamicFinance #DigitalAssets #FinancialInclusion #Innovation #ADIB

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The Middle East is on the brink of a digital banking transformation. It’s visible everywhere from the billions being invested in cloud infrastructure to become the next AI superpower, to the luminaries who flocked to this week’s Dubai FinTech Summit. Our colleagues from Lab49 attended the event and noted that in addition to a heavy emphasis on AI, there was a lot of focus on how the financial arena is being disrupted. A confluence of events is driving change. There is the diversification of economies beyond oil, the emergence of a growing number of funds and startups, as well as the appearance of foreign competition including neo banks such as Revolut and Alipay. Lab49 established a presence in the UAE a few years ago anticipating the need for large banks to reimagine their customer touchpoints, and in turn their underlying data and services infrastructure. The fintech summit attracted more than 8,000 people from 118 countries, including Charith Mendis, Head of Worldwide Banking Industry at AWS; Michael Demissie, Head of Applied AI and Practice at Bank of New York; Kfir Godrich, Chief Innovation Officer at Blackrock and Alfonso Castillo, President & CEO of Santander’s U.S. Private Bank. One notable speaker was Nik Storonsky, Founder & CEO of Revolut, a bank created in 2015 that has taken Europe by storm. It has attracted 35 million customers in 38 countries by offering digital-native and mobile-first banking services. Storansky said that Revolut is in the process of applying for a banking license in the region and expects to be operational in 2025. The expansion of digital services in the Middle East has led to an unprecedented increase in the number of people with access to financial services. It was that kind of promise that prompted Mashreq Neo to open the first digital bank in the region in 2017. Mashreq Neo offers a mobile-first banking experience, including transactional accounts, savings accounts, person-to-person payments, insurance, and investment products. For the established banks, a lot of the challenge comes down to offering new products and services, and distributing them in new ways for a changing business demographic while rapidly overcoming their legacy constraints.  Young tech-savvy entrepreneurs expect digital native experiences. Even mature businesses want easier and more efficient ways to manage tax payments, treasury operations, cross border payments, and employee compensation. They want the ability to make wire payments without paying exorbitant fees. Neo banks have grown fast worldwide, but many have struggled to reach profitability in the U.S., the world’s largest market. AI will also be a wildcard. Startups benefit from agility, but incumbents have reams of data and analytics that could help them better anticipate and service client needs. For the incumbent institutions there are risks, but also big opportunities.

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MENA: $339bn in on-chain transaction (TX) value from July'23 to June'24 gives the region a solid foundation to lead in a #DigitalAsset future. - #UAE leads the GCC with $30bn TX but Turkey tops with $137bn! - MENA TX sizes: 27% > $10m, 27% = $1-10mm, 39% = $10k - $1m, 7% <$10k Indicating a high proportion of institutional, professional, family-office + HNWI participation. - #Saudi & #UAE lead the region in DeFi. These TX account for 7.5% of global volumes. and firmly positioning MENA as a force in the #digitalassets space. Chainalysis TOO MUCH CEX v DEX? Centralized exchanges (CEXs) = the main gateway for #cryptocurrency inflows in #Qatar & Turkey but decentralized exchanges (DEX) & applications are also a sizable share - which bodes well for DeFi. ~% Share of transaction (TX) value CEX vs DEX: - Global 51% vs 28% - Qatar 64% vs 16% - Turkey 55% vs 25% - UAE 47% vs 33% - KSA 36% vs 31% #SaudiArabia's large (32mm), youthful (63% under 30) demographic are crypto-fluent, boosting participation in [advanced] DeFi activities. With the twin regulatory engines of #Dubai + #AbuDhabi , the UAE has strengthened it's position as a hub for DeFi and crypto projects. Globally total value received by DeFi services, (inc DEXs) was up 74% vs 22/23. DEXs saw a monster 87% growth, from ~$6bn to $11.3bn. A key reason is the relative safety (thus far) of the largest DEXs vs CEXs. The top DEXs came through the 2022 market crash with zero fraud/mismanagement losses. DEXs do NOT hold any customer funds by design and are managed by smart contracts that are independently verifiable. These have proven reliable vs humans. (The top 10 inc Uniswap, Raydium Protocol, PancakeSwap, Curve have a 24hr volume of $3bn). Meanwhile CEXs + centralised yield platforms like FTX, Voyager, Celsius, BlockFi etc collapsed due to fraud/corruption + asset/liability mismanagement etc. resulted in a few billion dollars of losses for investors whose assets were often commingled. (24hr vol $50bn, Binance, Crypto.com, Bybit etc) STABLECOINS DOMINATE #Stablecoin (SCs)TX are significantly higher than the global avg in Turkey, Saudi Arabia, UAE - albeit for very different reasons. ~% Share of TX value by coin type, Stablecoin / ALT / BTC / ETH: - Global 45 / 25 / 22 / 8 - Turkey 55 / 21 / 16 / 8 - UAE 51 / 24 / 17 / 8 - KSA 46 / 30 / 16 / 8 For Turkey (and other emerging nations) with a history of economic instability + high inflation, SCs provide people a much needed stores of value. The UAE & KSA have no such issues, both are USD pegged and safely anchored by $trillions of SWF + Oil assets. The growing usage of SCs likely indicates their popularity to access broader digital asset services + trading. These TXs are a key driver behind the launch of the UAE Dirham stablecoin by Tether.io + Phoenix Group. Saudi remains the sleeping giant in this regard - the region is just getting started! https://lnkd.in/drzfxc5b

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Especially in the tech sector, Abu Dhabi is positioning itself as a leader in the GCC startup ecosystem. It has never been easier to turn ideas into successful businesses thanks to government initiatives such as interest-free loans. #uae #abudhabi #business #growth #startups #funding #government #strategy

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Today we are pleased to announce our partnership with G42. Private markets - valued in the hundreds of trillions - represent the world's largest asset class, yet remain constrained by fragmented data and opaque processes. We’re changing that by delivering the next generation of AI and enterprise-grade data architecture. Together with an ecosystem of partners, we bring unprecedented trust, efficiency and transparency across critical industries. Together, this new partnership will empower private market participants to securely share, analyze, and transact on trusted data, setting a new standard for how private markets operate. We’ve been architecting the data solutions to transform the future of private market assets. Now, with G42, we're not only envisioning that future, we are launching it at scale. An-Nawawi writes on Hadith 26 about the role of charity, and G42’s investment is described in here: “Every joint of a person must perform a charity each day that the sun rises: to judge justly between two people is a charity. To help a man with his mount, lifting him onto it or hoisting up his belongings onto it, is a charity. And the good word is a charity. And every step that you take towards the prayer is a charity, and removing a harmful object from the road is a charity.” I am thankful for G42 for lifting us onto our mount as we drive the next generation of capital markets, utilizing Inveniam as the mechanism for data operations for private market owners to manage and control their data as the use AI and other forms of automation with total data sovereignty. An-Nawawi’s rough contemporary, philosopher and writer Bachya ben Joseph ibn Pakuda, in 11th century Spain writes in Chovos Halevavos (Duties of the Heart), that our entire service to God is based on the acknowledgment of the many gifts we have received from our Heavenly Father. For the past eight years we have been blessed in a measure far beyond what we deserve. Our shareholders, partners, and coworkers deserve a great thank you as we now begin at scale delivering automated private market asset data servicing using AI with attribution, context, and trust. We thank all of you, our newest partner G42, and we thank God for our blessings. "For the Spirit God has given us is no cowardly Spirit, but one that makes us strong, loving, and wise." - 2 tim 1:7

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Al Etihad Payments (AEP), a subsidiary of the Central Bank of The UAE (CBUAE), has partnered with G42's Core42 to initiate the implementation of #OpenFinance in the #UAE. This collaboration aims to establish global standards for open finance and enhance #digital #financialinclusion. Open Finance facilitates secure data sharing and financial transactions, promoting innovation and customer-centric services. Under CBUAE regulations, Open Finance will begin with Open Banking followed by Open Insurance, reaching the majority of customers by 2024. AEP has engaged Ozone API and Raidiam as technology providers within the Core42-led consortium for Open Finance Implementation. This initiative is part of CBUAE’s Financial Infrastructure Transformation (FIT) Programme, which aims to advance the UAE's financial services industry, accelerate digital financial services adoption, and provide consumers with innovative and secure financial products and services. The UAE leads globally in implementing a consolidated trust framework and centralised API hub, ensuring secure access to banking and insurance markets with customer consent. With the launch of Open Finance, Al Etihad Payments is strengthening the UAE's financial services sector and establishing itself as a leader in the global open finance movement. This is an exciting development that will benefit consumers and businesses alike. “The implementation of Open Finance marks a significant advancement in the UAE’s financial services industry and its financial #infrastructure transformation. It will accelerate the adoption of digital financial services, providing more innovative and safer digital financial products and services in the country. In addition, it will provide a seamless financial experience, ensuring consumers have control over their finances and efficient access to a diverse range of financial products.” - Fatma Al Jabri, Assistant Governor for Financial Crime, Market Conduct and Consumer Protection at the CBUAE. Jan Pilbauer #openbanking #fintech #digitalbanking #psp #payments #finance #fraud #‍digitalbanking #dubai #abudhabi #eu #innovation #startups #sustainability #law #fintech #ksa #india #crypto #leadership #lawenforcement #technology #banking #management #openinsurance #digitalwallets #wallets The Fraud Fellas‍‍

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In the latest meeting chaired by H.E. Mohammed Omran Al Shamsi, the UAE Banks Federation highlighted achievements in #bankingsector growth and #Emiratisation efforts, emphasising trust and #innovation for #SMEs and #sustainablefinance. Click here to read the complete story: https://shorturl.at/Ks0ao Follow SME10X for regular updates. #sme10x

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📢 [Sound of Fintech | BNPL ] 🚀 Deniz Ventures Backs TeamSec to Revolutionize Financial Securitization. Deniz Ventures, the venture capital arm of DenizBank, part of the Emirates NBD Group, has announced a strategic investment in fintech startup TeamSec. Made through the Emirates NBD Innovation Fund, this move highlights the group's Corporate Venture Capital division's commitment to transforming structured finance through cutting-edge technology. TeamSec: Redefining Financial Securitization Founded in 2022 and based in Turkey, TeamSec is a trailblazer in the region’s fintech and regtech landscape. It is the first and only Turkish company to provide a cloud-based platform dedicated to securitization. Their “Securitization-as-a-Service” solution is reshaping the traditional securitization process by improving efficiency and transparency in the financial ecosystem. Leveraging artificial intelligence and advanced data analytics, TeamSec delivers state-of-the-art tools for managing structured finance products such as asset-backed securities (ABS) and mortgage-backed securities (MBS). Strategic Vision Behind the Investment Deniz Ventures sees TeamSec as a pivotal partner in bridging technology gaps in securitization. Ahmed Al Qassim, Head of Wholesale Banking at Emirates NBD, stated: “We recognize the significant potential of securitization in fostering regional growth. Our investment in TeamSec underscores our commitment to shaping the market and supporting the growth of innovative companies.” Global Expansion on the Horizon This investment positions TeamSec for international growth, enabling the startup to introduce its innovative solutions to new markets. Esad Erkam Köroğlu, TeamSec’s Founder and CEO, expressed: “This partnership marks a significant milestone for us. The support from Deniz Ventures empowers us to broaden our reach and make a profound impact on the global financial industry.” Shaping the Future of Fintech Deniz Ventures’ investment in TeamSec aligns with its broader strategy of driving fintech innovation. Following initiatives like their 2023 backing of Erguvan, a startup focused on sustainable tech solutions, Deniz Ventures continues to lead in promoting innovation and sustainability in finance. By investing in TeamSec, Deniz Ventures demonstrates its foresight in embracing the opportunities of digital finance and its dedication to shaping a technologically advanced future for the structured finance industry. 📢 This is fintech evolution in action. Are you ready to be part of the revolution? Let’s connect! 🚀 👉 read https://lnkd.in/dC2vheez 👉 news 👉 https://pausepay.it/news/   👉 Join PausePay - il Buy Now Pay Later B2B italiano #payments #fintech #b2b #openbanking #Digitaltransformation #innovation #B2BPayments #bnpl #pausepay #Economia2025 #BNPLB2B #CrescitaGlobale  #Digitalizzazione #Sostenibilità  

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📢 [Sound of Fintech | BNPL ] 🚀 Deniz Ventures Backs TeamSec to Revolutionize Financial Securitization. Deniz Ventures, the venture capital arm of DenizBank, part of the Emirates NBD Group, has announced a strategic investment in fintech startup TeamSec. Made through the Emirates NBD Innovation Fund, this move highlights the group's Corporate Venture Capital division's commitment to transforming structured finance through cutting-edge technology. TeamSec: Redefining Financial Securitization Founded in 2022 and based in Turkey, TeamSec is a trailblazer in the region’s fintech and regtech landscape. It is the first and only Turkish company to provide a cloud-based platform dedicated to securitization. Their “Securitization-as-a-Service” solution is reshaping the traditional securitization process by improving efficiency and transparency in the financial ecosystem. Leveraging artificial intelligence and advanced data analytics, TeamSec delivers state-of-the-art tools for managing structured finance products such as asset-backed securities (ABS) and mortgage-backed securities (MBS). Strategic Vision Behind the Investment Deniz Ventures sees TeamSec as a pivotal partner in bridging technology gaps in securitization. Ahmed Al Qassim, Head of Wholesale Banking at Emirates NBD, stated: “We recognize the significant potential of securitization in fostering regional growth. Our investment in TeamSec underscores our commitment to shaping the market and supporting the growth of innovative companies.” Global Expansion on the Horizon This investment positions TeamSec for international growth, enabling the startup to introduce its innovative solutions to new markets. Esad Erkam Köroğlu, TeamSec’s Founder and CEO, expressed: “This partnership marks a significant milestone for us. The support from Deniz Ventures empowers us to broaden our reach and make a profound impact on the global financial industry.” Shaping the Future of Fintech Deniz Ventures’ investment in TeamSec aligns with its broader strategy of driving fintech innovation. Following initiatives like their 2023 backing of Erguvan, a startup focused on sustainable tech solutions, Deniz Ventures continues to lead in promoting innovation and sustainability in finance. By investing in TeamSec, Deniz Ventures demonstrates its foresight in embracing the opportunities of digital finance and its dedication to shaping a technologically advanced future for the structured finance industry. 📢 This is fintech evolution in action. Are you ready to be part of the revolution? Let’s connect! 🚀 👉 read https://lnkd.in/dFWYV-cd 👉 news 👉 https://pausepay.it/news/   👉 Join PausePay - il Buy Now Pay Later B2B italiano #payments #fintech #b2b #openbanking #Digitaltransformation #innovation #B2BPayments #bnpl #pausepay #Economia2025 #BNPLB2B #CrescitaGlobale  #Digitalizzazione #Sostenibilità  

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📢 [Sound of Fintech | BNPL ] 🚀 Deniz Ventures Backs TeamSec to Revolutionize Financial Securitization. Deniz Ventures, the venture capital arm of DenizBank, part of the Emirates NBD Group, has announced a strategic investment in fintech startup TeamSec. Made through the Emirates NBD Innovation Fund, this move highlights the group's Corporate Venture Capital division's commitment to transforming structured finance through cutting-edge technology. TeamSec: Redefining Financial Securitization Founded in 2022 and based in Turkey, TeamSec is a trailblazer in the region’s fintech and regtech landscape. It is the first and only Turkish company to provide a cloud-based platform dedicated to securitization. Their “Securitization-as-a-Service” solution is reshaping the traditional securitization process by improving efficiency and transparency in the financial ecosystem. Leveraging artificial intelligence and advanced data analytics, TeamSec delivers state-of-the-art tools for managing structured finance products such as asset-backed securities (ABS) and mortgage-backed securities (MBS). Strategic Vision Behind the Investment Deniz Ventures sees TeamSec as a pivotal partner in bridging technology gaps in securitization. Ahmed Al Qassim, Head of Wholesale Banking at Emirates NBD, stated: “We recognize the significant potential of securitization in fostering regional growth. Our investment in TeamSec underscores our commitment to shaping the market and supporting the growth of innovative companies.” Global Expansion on the Horizon This investment positions TeamSec for international growth, enabling the startup to introduce its innovative solutions to new markets. Esad Erkam Köroğlu, TeamSec’s Founder and CEO, expressed: “This partnership marks a significant milestone for us. The support from Deniz Ventures empowers us to broaden our reach and make a profound impact on the global financial industry.” Shaping the Future of Fintech Deniz Ventures’ investment in TeamSec aligns with its broader strategy of driving fintech innovation. Following initiatives like their 2023 backing of Erguvan, a startup focused on sustainable tech solutions, Deniz Ventures continues to lead in promoting innovation and sustainability in finance. By investing in TeamSec, Deniz Ventures demonstrates its foresight in embracing the opportunities of digital finance and its dedication to shaping a technologically advanced future for the structured finance industry. 📢 This is fintech evolution in action. Are you ready to be part of the revolution? Let’s connect! 🚀 👉 read https://lnkd.in/dFWYV-cd 👉 news 👉 https://pausepay.it/news/   👉 Join PausePay - il Buy Now Pay Later B2B italiano #payments #fintech #b2b #openbanking #Digitaltransformation #innovation #B2BPayments #bnpl #pausepay #Economia2025 #BNPLB2B #CrescitaGlobale  #Digitalizzazione #Sostenibilità  

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📢 [Sound of Fintech | BNPL ] 🚀 Deniz Ventures Backs TeamSec to Revolutionize Financial Securitization. Deniz Ventures, the venture capital arm of DenizBank, part of the Emirates NBD Group, has announced a strategic investment in fintech startup TeamSec. Made through the Emirates NBD Innovation Fund, this move highlights the group's Corporate Venture Capital division's commitment to transforming structured finance through cutting-edge technology. TeamSec: Redefining Financial Securitization Founded in 2022 and based in Turkey, TeamSec is a trailblazer in the region’s fintech and regtech landscape. It is the first and only Turkish company to provide a cloud-based platform dedicated to securitization. Their “Securitization-as-a-Service” solution is reshaping the traditional securitization process by improving efficiency and transparency in the financial ecosystem. Leveraging artificial intelligence and advanced data analytics, TeamSec delivers state-of-the-art tools for managing structured finance products such as asset-backed securities (ABS) and mortgage-backed securities (MBS). Strategic Vision Behind the Investment Deniz Ventures sees TeamSec as a pivotal partner in bridging technology gaps in securitization. Ahmed Al Qassim, Head of Wholesale Banking at Emirates NBD, stated: “We recognize the significant potential of securitization in fostering regional growth. Our investment in TeamSec underscores our commitment to shaping the market and supporting the growth of innovative companies.” Global Expansion on the Horizon This investment positions TeamSec for international growth, enabling the startup to introduce its innovative solutions to new markets. Esad Erkam Köroğlu, TeamSec’s Founder and CEO, expressed: “This partnership marks a significant milestone for us. The support from Deniz Ventures empowers us to broaden our reach and make a profound impact on the global financial industry.” Shaping the Future of Fintech Deniz Ventures’ investment in TeamSec aligns with its broader strategy of driving fintech innovation. Following initiatives like their 2023 backing of Erguvan, a startup focused on sustainable tech solutions, Deniz Ventures continues to lead in promoting innovation and sustainability in finance. By investing in TeamSec, Deniz Ventures demonstrates its foresight in embracing the opportunities of digital finance and its dedication to shaping a technologically advanced future for the structured finance industry. 📢 This is fintech evolution in action. Are you ready to be part of the revolution? Let’s connect! 🚀 👉 read https://lnkd.in/dFWYV-cd 👉 news 👉 https://pausepay.it/news/   👉 Join PausePay - il Buy Now Pay Later B2B italiano #payments #fintech #b2b #openbanking #Digitaltransformation #innovation #B2BPayments #bnpl #pausepay #Economia2025 #BNPLB2B #CrescitaGlobale  #Digitalizzazione #Sostenibilità  

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💡List of crypto friendly banks in the UAE 🇦🇪 Big “thank you” to Zana Jablan Musa for the support and find below the crypto-friendly banks: 👇 Commercial Bank of Dubai Emirates NBD Zand Mashreq RAKBANK 🚩 Above mentioned banks can open corporate bank accounts for Virtual Asset Service Providers (VASPs) with Virtual Assets Regulatory Authority (VARA) initial approval. For custody & client accounts, crypto companies need a No Objection Certificate (NOC) from the Central Bank. The NOC can be obtained after receiving a Full Market Product license, which is the final stage of the regulatory process. 🚀 Additionally, I want to mention that both AMINA Bank and Sygnum Bank have Abu Dhabi Global Market (ADGM) licensed subsidiaries in Abu Dhabi. Finally, I have heard about very positive experiences with Wio Bank. ✅ Like and/or comment below if you need help with an intro to the crypto-friendly banks listed above. 🙏 Share with your network to get the word out and support the crypto ecosystem. #uae #dubai #abudhabi #crypto #friendly #bank #web3 #vasp #vara Follow 👉 Anton Golub & share ♻️ with your network

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🚀 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗚𝗖𝗖: 𝗧𝗵𝗲 𝗥𝗶𝘀𝗲 𝗼𝗳 𝗢𝗽𝗲𝗻 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 🌐 Open banking is transforming the financial sector in the GCC, focusing on secure data sharing through APIs. It fosters competition, innovation, and financial inclusion, with Bahrain, Saudi Arabia, and the UAE emerging as regional leaders. 🔹 Secure Financial Data Sharing – Driving personalized services, real-time transactions, and collaboration between banks and fintechs. 🔹 Advanced Regulatory Frameworks – Bahrain, Saudi Arabia, and the UAE lead with strong regulations, digital adoption, and regulatory sandboxes. 🔹 APIs for Innovation – Solutions for payments, personal finance management, and credit scoring are reshaping digital banking. 🔹 Data Monetization Strategies – Platforms like Mashreq Bank’s NEOPAY and FAB's Magnati are setting new standards. 🔹 Economic Diversification – Supporting Sharia-compliant digital banking and reducing oil dependency through financial inclusion. 🔹 Real-Time Payments Growth – With initiatives like Bahrain’s Instant Payment Platform, significant transaction volume increases are expected by 2027. 🔹 Open Finance Evolution – Moving beyond open banking, data sharing now extends to insurance and investment sectors for comprehensive solutions. 💡 Open banking is redefining the financial landscape in the GCC. As the region transitions to open finance, it will unlock broader opportunities for businesses and consumers alike. #OpenBanking #DigitalTransformation #Fintech #FinancialInclusion #OpenFinance #APIs #GCCFinance #RealTimePayments #BankingInnovation #DataMonetization #EconomicDiversification #ShariaCompliantBanking #Bahrain #SaudiArabia #UAE #MiddleEast #RegTech #FinTechRevolution

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As an expat in Qatar, an SME entrepreneur, and a consultant who has helped launched few digital banks, I want to share some thoughts on why Qatar needs a digital bank. Last week, Qatar Central Bank (QCB) issued a regulatory framework to enable the launch of digital banks in Qatar. This is an exciting step forward, and am sharing why I believe it’s so important: Why Qatar Needs a Digital Bank As an expat living in Qatar The thought of visiting a bank often feels like a nightmare: - Taking a token, waiting long hours, and making repeated trips for even simple tasks. - Banking feels reactive, not proactive. This isn’t unique to Qatar but is common across much of the GCC. - There is no “aha” moment—banking is a need-based interaction. It feels like: “I need it; they have it.” As an SME entrepreneur - Opening a bank account can take weeks, requiring a lots of documentation and multiple visits to the bank. - High minimum balance requirements make it difficult for startups to access basic banking services. - Conservative credit and lending policies leave many SMEs struggling to get the support they need to grow. How Digital Banks Can Help A fully digital bank could transform banking in Qatar by: - Providing proactive banking experiences powered by new-age technology. - Offering seamless, paperless services that create “aha” moments for customers. - Reducing the barriers SMEs face with faster account setups, lower minimum balances, and innovative lending solutions. QCB’s Framework for Digital Banks - Paid-up capital: QAR 100 million. - Launch in phases: Encouraging a staged rollout. - total size of assets shouldn’t exceed QAR 4 Bn in phase 1 - Cumulative deposit per wholesale customer QAR 1 Mn at any point of time, 250k limits for retail customer - Open to consortiums. Foreign company is eligible to apply if they partner with local company - Focus on financial inclusion Why It Makes Sense to Apply Globally, telcos are well-positioned to enter the digital banking space due to their: - Extensive customer base and data. - Strong distribution networks. From a P&L perspective, digital banks offer: - Lower operational costs with no physical branches. - Faster break-even timelines due to their lean models. What Needs to Be Done - Viability Assessment and Market Landscape - Don’t just copy-paste models from other countries. Understand the unique needs of Qatar. As I like to say, “If you’re building for Qatar, first smell the spices of Souq Waqif.” - Clear Value Proposition - Strong Tech Stack - Fraud, AML & Compliance - Go-to-Market Strategy - Leverage partnerships I appreciate the hard work by QCB in releasing this framework.

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Commercial Bank International partners with areeba to advance FinTech payments in the UAE Commercial Bank International (#CBI) has announced a strategic #partnership with areeba, a global #payment #infrastructure provider in the #UAE. The partnership aims to empower #FinTechs with #scalable, #securecard #management capabilities and accelerate the growth of the country’s #digital payment ecosystem. With the UAE already accounting for 46% of FinTech #startups in the #MENA region, the agreement aims to further support the growth of the local FinTech landscape by enabling businesses to adopt innovative solutions. Source: IBS Intelligence

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A rising tide raises all ships, but is the tide turning? Our quarterly UAE banking pulse report is out. It's not news that banks continue to perform very well in this current environment. Progress across the sector continues, but the signs of a slowdown are evident. As the probability of Fed rate cuts in the next couple months increase along with greater nervousness about the extend positive credit cycle, a number of our clients are taking preemptive action. So what's on their agenda? - Strategic cost reduction - Plugging revenue leakage - Value realization from capital investments. If you are a UAE Bank leader and want to see how you compare click on the link to download the report, or drop me a DM. Fernando Plaza Fernando Morillo Suhail Bin Tarraf Vikram Sandhu Ali Khan Shehzad Hameed Dhiraj Kunwar Jayesh Patel Arjun Vir Singh Gaurav Dhar Ronit Ghose Renjit Philip Luke Eley #UAE_Banks #UBF #CBUAE #Cost_reduction #Revenue_Leakage #VRO

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#Microsoft’s investment in G42, an AbuDhabi-based #AI and cloud computing company, signifies a strategic partnership that could enhance technological advancements and AI capabilities in the region. This collaboration is likely to contribute to the innovation ecosystem and support the #UAE’s vision for economic diversification and digital transformation. The investment in my opinion may also open up new opportunities for growth and development in various sectors, including banking, healthcare, smart cities, and renewable energy, aligning with the #UAE’s broader strategic goals. #ArtificialIntelligence #StrategicPartnership #DigitalTransformation #UAE

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In 2021, Jamie Dimon and the team at JPMorgan said "PAYMENTS are eating the world". This concept has taken some time to catch on in the Kingdom of Saudi Arabia, the biggest market in MENA. However, today, the Kingdom has taken a giant leap forward. The Saudi Central Bank – SAMA has released the second #OpenBanking framework which includes Payment Initiation, opening up account-to-account alternative payment mechanisms pioneered by my business Fractal Labs/ tomato pay in the UK. Now, building on our success, Spire Tech is poised to take this forward into the next frontier, driving revenue and cost savings to small businesses across the country. This is revolutionary news for the business owners in the region. #fintech #payments #ksa #sama #sme

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🌍 Exploring the UAE's Payment Landscape: A Deep Dive 💳 "The State of Payment in the UAE" delves into the dynamic and rapidly evolving payment ecosystem in the UAE, highlighting key players, regulatory frameworks, and emerging trends. Key takeaways: - Robust Growth: The UAE's payment sector is poised for substantial growth, with a projected revenue increase of 3.6% CAGR over the next five years. - Diverse Ecosystem: From government initiatives like Al Etihad Payments to innovations from global giants like Visa, Mastercard, and local fintechs, the UAE's payment landscape is thriving. - Digital Transformation: UAE national banks and fintech companies are leading the charge in digital innovation, with investments in AI, blockchain, and the creation of neobanks. - Strategic Alliances: The sector is seeing significant acquisitions and partnerships, underscoring the UAE's commitment to becoming a global financial hub. For professionals and stakeholders in the financial sector, this report is a must-read to stay ahead in this fast-paced environment. 📊 #UAE #Fintech #DigitalTransformation #Payments #Innovation #FinancialServices

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