IFZA and Abu Dhabi Islamic Bank (ADIB) have signed an MoU to provide businesses within the IFZA community with enhanced financial solutions, including streamlined account opening and tailored financing options. The partnership aims to foster economic growth, supporting entrepreneurs and SMEs with digital banking services and personalized advisory support.
Kuwait Finance House (KFH) has expanded its digital services through the KFHonline app, introducing features like instant money transfers, online financing requests, and banking card management. With over 150 services on the app and additional services at smart branches, KFH is enhancing customer convenience and leadership in digital banking.
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.
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.
Egypt has seen a remarkable 181% increase in financial inclusion over the past eight years, with 71.5% of eligible citizens gaining access to banking services. Key initiatives, including targeted events and programs for underserved groups, have contributed to this growth, fostering economic development and access to financial services across the nation.
Qatar Central Bank has launched a regulatory framework for digital banks to enhance the country’s financial sector. This move supports Qatar’s digital economy and financial inclusion, allowing 24/7 banking through mobile and online platforms. The framework aims to reduce costs and foster innovation in line with Qatar National Vision 2030.
QIIB has launched a digital platform for managing Letters of Credit, making it the first bank in Qatar to do so. This platform enables businesses to submit, track, and manage LCs online, enhancing efficiency, compliance, and security. Available 24/7, it also offers real-time updates and cost savings for customers.
Reem Finance has partnered with Temenos to launch a digital community bank in the UAE, utilizing Temenos’ cloud-based core banking platform. This collaboration aims to drive innovation, streamline operations, and deliver seamless banking services to retail and corporate customers, enhancing financial inclusion and positioning Reem Finance for future growth in the sector.
Al Baraka Bank Egypt has launched a new mobile banking app and revamped its internet banking service to enhance user experience and expand its digital ecosystem. By 2027, the bank aims for 50% of its customers to be digitally active, reinforcing its leadership in modern banking solutions.
Sohar International has launched its fully digital E-Mandate Direct Debit solution, streamlining recurring payments for individuals and businesses. This initiative enhances efficiency, security, and convenience while promoting sustainability by reducing paper usage. The new service reflects the bank’s commitment to financial innovation and aligns with Oman’s digital transformation efforts.
