Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Ecobank and Google Cloud have partnered to transform African financial services using AI and advanced analytics. The collaboration aims to enhance payment and remittance solutions, improve SME financing, and develop user-friendly digital banking platforms across 33+ African countries, supported by Google Cloud’s technology and expert services.
Oman’s Central Bank has made IBAN mandatory for all domestic bank transfers from July 1, 2025, aiming to boost transaction accuracy and speed. Following successful IBAN implementation for international payments, this policy ensures greater financial security and aligns Oman with global banking standards.
Morocco’s HPS Switch has rebranded as Switch Al Maghrib (SWAM) and gained recognition as a system of economic importance under new financial infrastructure reforms. With upgraded Active-Active infrastructure, SWAM supports millions of transactions and prepares to launch instant payments. The platform promotes inclusivity by integrating fintechs and aims to secure Morocco’s financial sovereignty while offering competitive rates and enhancing merchant value.
EQIQ has invested $3 million in the launch of Iraq’s first AI-powered digital bank, led by Hussain Qaragholi, as part of a $15 million funding round. The bank aims to modernize Iraq’s underserved banking sector with mobile-first fintech solutions, supporting EQIQ’s broader strategy to advance the country’s digital economy.
PetroApp’s $50 million funding round led by Jadwa Investment supports its IPO plans and regional growth across four countries. The platform leverages Saudi Arabia’s digital transformation and rising demand for efficient, integrated fleet management, marking a significant evolution in Middle East payment ecosystems.
Valu’s stock surged over 850% on its EGX debut, reaching a $370 million market cap through a novel share distribution by EFG Holding. Backed by Amazon as a key shareholder, Valu leads Egypt’s consumer finance sector with strong growth and digital innovation, poised to expand financial inclusion and transform fintech in the region.
Contact Financial Holding and noon Payments have partnered to enhance Egypt’s digital payments by integrating financing services and digital payment options within Contact’s AI-driven ContactNow app. The collaboration introduces BNPL services and expands payment flexibility for merchants and consumers, aiming to revolutionize financial accessibility across the market.
Qatar Islamic Bank has launched the QIB Junior App, a first-of-its-kind digital banking platform for youth aged 8–17. The app combines a prepaid Visa card with savings tools and parental controls, aiming to build financial literacy and confidence under secure supervision. The solution aligns with Qatar’s vision for digital inclusion and sustainable development.
Vantage Payment Systems and Mastercard have partnered to boost Morocco’s digital payment ecosystem, introducing new Mastercard-branded cards, blockchain tokenization, and digital wallets. The collaboration enhances financial inclusion and aligns Morocco’s fintech scene with international standards amid increasing digital adoption.
NBB and Batelco have partnered to offer businesses in Bahrain integrated connectivity and payment solutions, combining Batelco’s corporate services with NBB GO’s mobile POS technology. This initiative aims to streamline operations, promote cashless payments, and support the country’s digital economy growth.