Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Pakistan has opened 10 million BISP mobile wallet accounts for low-income women, enabling digital stipends without agents or queues. Supported by banks, telcos, PTA, and NADRA, the initiative targets 100% digital payments by June 2026 and represents a major step in expanding financial inclusion.
Oman has soft launched ‘Maal’, its first national payment card, through a partnership between Dhofar Islamic and the Central Bank of Oman. Integrated with the OmanNet gateway, the card will enable domestic payments across ATMs, POS terminals, e-commerce, and government platforms. The initiative reduces reliance on international card networks, enhances security and financial inclusion, and supports Oman Vision 2040’s digital economy and cashless society ambitions.
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.
Egypt’s Central Bank (CBE) has launched the Haweya digital ID platform—starting with a new website and soon a mobile app—to accelerate financial inclusion and simplify access to public and private services nationwide. The initiative introduces a unified biometric digital identity that will allow Egyptians to verify their identity, open bank accounts, and complete eKYC processes entirely online.
DisrupTech Ventures’ investment in Chari marks a strategic step toward scaling inclusive fintech solutions across Africa, enabling digital payments and financial access through Morocco’s vast retail network.
bKash now processes 5.2% of global mobile money transactions, cementing Bangladesh’s leadership in digital financial inclusion. With 82 million users and expanding innovations, it continues to redefine financial access for underserved communities worldwide.
MTN MoMo and Mastercard have expanded their collaboration to boost digital financial inclusion in South Africa, introducing card-based wallet top-ups, advanced security via tokenisation, and broader access to digital services.
Pakistan is shifting its welfare system from cash handouts to mobile wallets under the BISP, transitioning over 10 million families into digital inclusion. The move aims to empower beneficiaries, especially women, while strengthening transparency, financial literacy, and participation in Pakistan’s growing digital economy.
The World Bank has praised Iraq’s digital banking reforms as e-payment transactions hit $1.52B in August 2024, with 20M bank cards issued and financial inclusion surpassing 40%. Backed by the CBI, Iraq’s system now links to global payment networks, marking a major step in financial modernization.
Sri Lanka aims to grow its digital economy contribution to GDP from 3% to 15% within a decade, with fintech projected to unlock $15 billion in value. At the Fintech Summit 2025, Dr. Hans Wijayasuriya outlined a DPI-led strategy built on trust, innovation, inclusion, and regulation to drive growth.