Mashreq Pakistan has received a restricted license from the State Bank of Pakistan (SBP) to begin pilot operations as a digital retail bank. The bank plans to offer Islamic banking solutions and digital services to millions of retail customers, contributing to financial inclusion and economic development in Pakistan.
Veon Group has invested US$15 million in Mobilink Bank to expand its microfinance offerings, explore Islamic banking, and enhance its digital capabilities. This strategic investment will support financial inclusion and socio-economic development in Pakistan, aligning with Veon’s goals to foster technological innovation and sustainable growth in the financial sector.
Algeria will launch the “DZ MOB PAY” mobile payment system in January 2025, enabling secure smartphone transactions. The platform aims to boost financial inclusion and digitalization, offering free and user-friendly services. With key institutions leading the initiative, it marks a pivotal step in Algeria’s digital payment ecosystem.
VEON Group has invested $15 million in Mobilink Bank to support its growth, focusing on MSME financing, Islamic banking, and digital transformation. The funds will enhance the bank’s operational capabilities, expand its outreach, and introduce innovative services, contributing to Pakistan’s financial ecosystem and digital banking future.
Talaty, a Moroccan fintech company, has secured investment from Witamax and Renew Capital to enhance financial inclusion for SMEs in Morocco and Francophone Africa. The AI-driven platform helps reduce costs and defaults, offering faster credit decisions, and aims to support SMBs with essential financial services across the region.
In 2024, Jordan’s government service centres completed 882,583 electronic transactions, reflecting the success of the initiative to streamline public services. The centres, which offer multiple government services under one roof, utilize innovative technology to enhance accessibility and customer satisfaction, in line with King Abdullah’s vision for improved public services.
SuperQi, launched by Qi Card in partnership with Ant International, is a next-generation digital app combining banking and lifestyle services. Aimed at boosting financial inclusion in Iraq, the app offers services like payments, transfers, loans, and mobile recharges. It targets over 15 million users, promoting a cashless society.
Algeria is set to launch a mobile payment system in January 2025, aiming to advance digital transformation and financial inclusion.
Pakistan’s digital payments surged by 9% in Q1 FY25, with mobile banking and e-commerce leading the way. The Raast system’s success highlighted the shift to digital wallets and mobile platforms. With continued growth in digital services, Pakistan is on track to enhance financial inclusion and drive economic development.
Paymob has integrated Apple Pay into its merchant network in Egypt, enabling consumers to use Apple devices for secure, seamless payments in-store, in-app, and online. This marks a significant step in transforming Egypt’s digital payments ecosystem, offering merchants and customers a modern and convenient payment solution that boosts sales and enhances experiences.
