Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Saudi Awwal Bank and United Pharmaceuticals have completed Saudi Arabia’s first digital Islamic supply chain finance transaction. The initiative streamlines payments and enhances working capital management for suppliers through a Shariah-compliant, automated platform. This marks a significant step in integrating Islamic finance and digital transformation in the Kingdom.
PayTic, a Moroccan fintech startup, has secured $4 million in funding to enhance its payment automation solutions and expand into North and Sub-Saharan African markets. The investment will help the company address the growing demand for efficient payment processing in Africa’s rapidly expanding digital payments economy.
Haball, a Pakistani fintech offering shariah-compliant supply chain finance solutions, raised USD 52 million in pre-Series A funding. The round, led by Zayn VC and Meezan Bank, will support Haball’s expansion into Saudi Arabia and the GCC, addressing the region’s demand for digital financial services for SMEs.
Global Brand PLC has partnered with Hyosung TNS to advance banking technology in Bangladesh. This collaboration focuses on deploying ATMs and banking kiosks to enhance customer experiences and promote economic inclusion. The partnership combines local expertise with innovative financial technology solutions to transform Bangladesh’s banking sector.
PayTabs has launched a platform to help SMEs accept digital payments securely and efficiently. With features like payment links and QR codes, the platform streamlines transactions and enhances business workflows. This collaboration with Mastercard advances Egypt’s digital payments sector and promotes financial inclusion for SMEs across the region.
e& Egypt has launched its first instant international money transfer service through the e& Cash digital wallet, allowing users in Egypt to receive remittances instantly and securely from the UAE and Saudi Arabia. This initiative enhances financial inclusion and simplifies cross-border transfers, supporting the country’s push towards digital financial solutions.
Maseera has acquired ADVA, a leading Egyptian consumer finance platform, to drive financial inclusion in Egypt. The acquisition will strengthen Maseera’s AI and data analytics capabilities, focusing on expanding credit access for underserved populations. ADVA will also seek Egypt’s first digital consumer finance license to enhance onboarding processes.
Maseera has acquired ADVA, an Egyptian consumer finance platform, to enhance its financial services. The acquisition aims to leverage AI-driven lending solutions to provide inclusive financing for underserved segments in Egypt, particularly in healthcare and education. This move supports Maseera’s global expansion and financial inclusion mission.
Pakistan’s digital payment channels processed 88% of retail transactions in Q2-FY25, with a 12% increase in transaction volume and a 28% rise in value. Mobile banking apps, e-money wallets, and branchless banking services played a pivotal role in driving growth. SBP’s initiatives continue to fuel financial inclusion and efficiency.
Pan Asia Bank has partnered with TerraPay to enable instant cross-border money transfers directly to bank accounts in Sri Lanka. This collaboration allows Sri Lankan migrants worldwide to send money quickly through TerraPay’s network, facilitating real-time transactions to over 1.5 billion bank accounts and mobile wallets globally.