Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The Central Bank of Oman has launched Maal, the Sultanate’s first national payment card, offering free debit and prepaid cards and lower processing fees for banks and merchants. The initiative aims to strengthen local payment sovereignty, reduce reliance on international schemes, cut transaction costs, and advance Oman’s broader digital economy goals.
Digital transformation is accelerating across GCC capital markets, with tokenised sukuk, smart sukuk platforms, and blockchain-based settlement gaining momentum. Fitch says adoption will rise gradually as regulators and Shariah bodies define clear frameworks. Strong market activity, rising fintech participation, and new retail platforms position the GCC to lead the next era of Islamic finance.
BENEFIT and Ant International have partnered to launch Alipay+ cross-border QR payments in Bahrain starting in 2026. The initiative will allow over 15,000 merchants to accept international wallet payments and will later enable outbound payments for Bahraini consumers. The partnership supports Bahrain’s digital economy strategy and strengthens its position as a regional fintech hub.
ABHI has expanded its operations in Saudi Arabia through a partnership with Bayt, enabling employees to access earned wages ahead of payday and improving financial ease for workers. The deal supports broader financial inclusion goals and aligns with Saudi Vision 2030. ABHI continues to grow regionally, including launching a microfinance bank with TPL Corp.
Mashreq has launched NEO in Pakistan, the country’s first Islamic-first fully digital banking platform offering instant onboarding, high-profit Shariah accounts, free digital transactions, and secure app-based services for both residents and NRPs. Built on cloud infrastructure, it supports Pakistan’s vision for financial inclusion and digital modernization.
BENEFIT and Ant International are partnering to link Bahrain’s national QR system with Alipay+, enabling international travellers to pay at Bahraini merchants using partner wallets starting in 2026. The agreement also explores outbound QR usage for Bahraini consumers. The initiative strengthens Bahrain’s digital payments ecosystem and deepens its integration with global fintech networks.
NBK has launched new fintech services — including Virtual IBANs, secure APIs, BIN Sponsorship, and QR Code Cash Withdrawal — to accelerate Kuwait’s digital economy and support financial inclusion. Designed for licensed e-wallet providers, these services give fintechs access to NBK’s secure infrastructure, enabling compliant digital payment solutions and fostering innovation across Kuwait’s evolving fintech sector.
stc pay Bahrain has partnered with Local to introduce a QR-based checkout experience for restaurants and service businesses. The platform enables instant bill payments with no hardware required, streamlining operations and improving customer experience. The partnership supports Bahrain’s growing fintech ecosystem and expands stc pay’s corporate payment offerings across the GCC.
stc pay Bahrain has partnered with GCC fintech Local to launch next-generation QR payment solutions for restaurants and service businesses, enabling instant scan-and-pay experiences and advancing digital payments across the region.
Pakistani fintech Abhi has partnered with UAE’s Numou to deliver embedded financing for SMEs, helping businesses unlock faster working capital availability and strengthen economic resilience in the region.