Al Baraka Bank Egypt has launched a new mobile banking app as part of its 2023-2025 strategy to enhance its digital ecosystem. The app, along with an upgraded internet banking service, aims to expand the bank’s digital presence, attract new customers, and provide innovative solutions, especially for corporate clients.
Abu Dhabi Islamic Bank Egypt (ADIB) has announced an EGP 1 billion investment in technology and cybersecurity. The bank showcased its digital banking innovations and Islamic Sharia-compliant products at the Cairo ICT Exhibition. Subsidiaries like “Taka” and Arzaq also participated, highlighting advancements in consumer finance and microfinance.
Telenor Microfinance Bank (TMB) has received a $10 million equity investment from Telenor Group and Ant Group, supporting the launch of Easypaisa’s digital retail banking operations in Pakistan. This investment, along with impressive financial results, strengthens TMB’s mission to enhance digital financial inclusion and deliver innovative banking solutions in Pakistan.
Tuum has partnered with Google Cloud to enhance digital banking services in the EMEA region. This collaboration aims to improve scalability, security, and performance for financial institutions, enabling them to meet modern customer demands. Tuum’s deployment in Saudi Arabia marks a significant step towards supporting cloud-based financial development in the Middle East.
Qatar Islamic Bank (QIB) has launched a comprehensive awareness initiative to educate customers about cybersecurity and protect their personal banking information. This initiative, coinciding with cybersecurity awareness month, aims to empower customers against cyber threats through enhanced knowledge and advanced security features in digital banking.
Kuwait-based fintech startup Krti has closed a $1.5 million pre-seed investment round with Core Vision Investment. The funding supports the upcoming launch of Krti’s innovative loyalty program, aimed at maximizing the benefits of users’ bank cards in Kuwait and Saudi Arabia.
Finastra has partnered with Sonali Bangladesh UK (SBUK) to implement Finastra Essence, a cloud-based core banking solution that supports both Shariah-compliant and conventional banking. This collaboration aims to enhance SBUK’s digital offerings and streamline banking operations, meeting the diverse needs of its corporate and banking clients.
du Pay has partnered with Emirates NBD to enhance digital financial services in the UAE by offering users a unique virtual IBAN for seamless fund transfers. The collaboration also allows cardless cash withdrawals from Emirates NBD ATMs, improving user convenience and reinforcing both companies’ commitment to innovation in banking.
BankDhofar partners with Entrust to implement Digital Card Solution (DCS), enabling Tap to Pay and tokenization services through its Dhofar-Pay app. This makes BankDhofar one of the first in Oman to launch such services, with plans to expand into digital wallets like Apple Pay and Samsung Pay soon.
Qatar Islamic Bank (QIB) has enhanced its Mobile App with new features, including UPI transfers to India, Mobile Wallet Payments to Egypt, and EDAA NIN & IBAN linking for dividend payments. These updates provide greater convenience, control, and security for customers, making QIB’s app a comprehensive digital banking solution.
