Oman saw a dramatic rise in mobile payments in 2023, with mobile transactions growing by 700% and the value processed through the MPCSS reaching OMR 1.44 billion. The surge highlights the country’s shift towards digital financial solutions, driven by the Central Bank’s modernization efforts and broader adoption of secure payment systems.
Kuwait’s Ministry of Finance signed an agreement with Microsoft to enhance digital transformation and financial systems through AI and cloud services. The partnership will focus on upgrading financial services, improving government connections, and providing technical support. Joint workshops will be held to develop collaboration plans for achieving the Ministry’s objectives.
PayTabs has partnered with Concept Combined Group Kuwait to launch PayTabs Kuwait, aiming to enhance digital payment services in the country. The initiative will provide secure and efficient payment solutions, particularly for SMEs, and support Kuwait’s digital transformation goals under the ‘New Kuwait 2035’ vision.
Apple Pay has officially launched in Egypt, enabling users to make secure, contactless payments using Apple devices. The initial rollout includes partnerships with major banks like the National Bank of Egypt, Banque Misr, and CIB. This marks a significant step toward Egypt’s digital payment transformation and financial inclusion.
Egypt has achieved a 181% increase in financial inclusion between December 2016 and June 2024, expanding financial access to 48.1 million citizens. MSMEs have also seen substantial growth, with microfinance funding rising 1,350%. Efforts include expanding financial technology and supporting women’s empowerment and public service improvements.
HRH Prince Salman bin Hamad Al Khalifa met Crypto.com president Eric Anziani to discuss Bahrain’s commitment to advancing financial services and digital technology. During the meeting, they explored Bahrain’s role in fostering investment in fintech and received a new Mastercard prototype from Crypto.com, marking a milestone for the region.
MNT-Halan, Egypt’s leading fintech company, has entered the UAE market with its innovative Halan Advance salary financing solution. This marks the company’s expansion across the region, bringing financial inclusion, cash flow management, and economic empowerment to underserved communities. MNT-Halan aims to reach 250,000 customers by 2025.
ADIO and Mastercard have launched the Digital Partnership Programme to boost Abu Dhabi’s economic transformation. The initiative focuses on digitizing financial systems, promoting SME growth, and using AI and blockchain technologies. The collaboration will also enhance Abu Dhabi’s global competitiveness and innovation in the fintech and telecom sectors.
The Abu Dhabi Securities Exchange has successfully integrated the Amman Stock Exchange into the Tabadul Digital Exchange Hub, enhancing cross-border trading and investment opportunities in the region. The integration allows investors in both Jordan and the UAE to access a wider range of securities and participate in IPOs across markets.
HRH Prince Salman of Bahrain met Crypto.com President Eric Anziani to discuss advancing the kingdom’s financial services and digital sectors. The meeting focused on Bahrain’s commitment to attracting international companies and fostering investment in fintech. Anziani also presented Bahrain with Crypto.com’s new Mastercard prototype, the first in the Middle East.
