Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
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.
NBB and Batelco by Beyon have partnered to deliver integrated connectivity and fintech solutions to Bahraini businesses, bundling Batelco’s connectivity with NBB’s SoftPOS app ‘NBB GO’. This collaboration aims to streamline payment processing, enhance operational efficiency, and support Bahrain’s digital economy growth.
NayaOne has launched Saudi Arabia’s first fully Saudi-hosted VDI platform, enabling financial institutions to accelerate product development and testing while addressing data sovereignty. Supported by AstroLabs and the UK government, NayaOne is poised to drive fintech innovation aligned with Vision 2030’s goals.
NayaOne has launched Saudi Arabia’s first fully locally hosted sandbox-as-a-service platform, enabling banks and fintechs to accelerate product testing and launch while addressing data sovereignty. Supported by AstroLabs and the UK government, the platform aligns with Vision 2030 and Saudi Arabia’s booming fintech market.