Bank Alfalah has acquired a 9.9% stake in Jingle Pay, a UAE-based fintech specializing in cross-border remittances. The partnership will enhance Bank Alfalah’s digital transformation and support Jingle Pay’s expansion, including a planned launch in Pakistan in early 2025. Jingle Pay processed $1 billion in remittances in 2024.
In 2024, Algeria’s FGAR funded 386 SMEs with a total of USD 427 million, creating over 8,000 jobs. The fund provided loans and financial guarantees across various sectors and regions, supporting business growth. Additionally, it recently expanded loan offerings to include both investment and operating loans.
Google Pay is set to launch in Pakistan by mid-March 2025, allowing users to link debit and credit cards to Google Pay for seamless contactless payments. The service, in collaboration with Visa, Mastercard, and local banks, will help boost Pakistan’s growing digital payments sector, initially focusing on basic payments.
stc Bahrain’s “Trees for Life” campaign reached a major milestone by planting over 55,000 trees since 2021. In 2024, 27,172 trees were added to green spaces across Bahrain. The initiative supports the country’s national afforestation plan, helping achieve environmental sustainability and Bahrain’s vision of net-zero emissions by 2060.
Qatar’s Ministry of Communications and Information Technology launched the National Digital Authentication and Trust Services Strategy 2024-2026 to support the country’s digital transformation. The strategy focuses on creating a secure digital identity, enhancing collaboration across sectors, and promoting innovation while improving the efficiency of electronic services.
The National Lab for Local Content was inaugurated in Muscat to enhance Oman’s local industries and economic sustainability. Discussions focus on boosting local production, creating jobs, and promoting national resources across critical sectors like energy, construction, and health. A National Content Strategy Guide will be launched in March.
Sheikh Sultan Bin Ahmed met with delegations from e& UAE and the Ministry of Justice to discuss collaboration in digital infrastructure and judicial services. The discussions focused on enhancing Sharjah’s telecommunications sector, supporting e&’s advancements in AI and fibre-optic networks, and modernizing the judicial system in the UAE.
Saudi Arabia’s deep tech startups, focusing on AI and IoT, have secured over $987 million in funding, driving innovation and supporting the Kingdom’s Vision 2030 goals. The report highlights the growing investment ecosystem, the rise in research, and the country’s commitment to advancing its digital economy and sustainable development.
The Bangladesh Mobile Phone Consumers Association has demanded the reversal of the recent tax hike on telecommunications and internet services. The new taxes, including an increase in VAT and supplementary duty on mobile phones and broadband internet, are expected to raise costs for consumers, prompting public protest.
HyperPay has secured a licence from the Saudi Central Bank (SAMA) to advance digital payment services in Saudi Arabia. This move supports the company’s expansion and aligns with Vision 2030, aiming to enhance financial efficiency and inclusion. HyperPay also plans to go public in Saudi Arabia by 2025.
