Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Egypt’s Central Bank and MCIT launched the ‘AI for FinTech’ Hackathon to train DEBI students in AI-driven financial innovation. The initiative strengthens Egypt’s FinTech ecosystem, linking academic learning with real-world banking challenges and promoting youth-led digital transformation.
NBK has upgraded its Mobile Banking App with new features including in-app Fixed Savings Account opening, simplified standing orders, extended refund periods, and enhanced access recovery. These updates aim to strengthen customer convenience and reinforce NBK’s position as Kuwait’s leading digital banking provider.
The UAE’s fintech sector is rapidly advancing, transforming payments into seamless, secure, and personalized experiences that support the country’s digital economy growth. Key innovations include wearable payment technologies and a push toward a cashless economy, with Dubai targeting 90% digital transactions by 2026. Fintech also promotes financial inclusion by providing digital tools to unbanked populations. AI and machine learning enhance fraud detection and personalized services, boosting consumer trust. Strong regulatory support further accelerates fintech adoption and attracts global investment.
Saudi Arabia’s Mada network drives a 57% increase in e-commerce transactions as contactless payments become mainstream. While in-store spending dips slightly due to holiday shifts, frequent smaller purchases and mobile payment innovations signal ongoing digital transformation in consumer behavior.
BENEFIT and Bahrain Clear partner to launch an eIPO service on BenefitPay, streamlining IPO subscriptions for retail investors. Set for Q4 2025, the platform aims to enhance accessibility, security, and transparency, supporting Bahrain’s financial sector development and digital transformation goals.
SPAYZ.io is expanding into South Africa, Egypt, and Cameroon, offering EFT Bank Transfers and Mobile Money solutions to capture growing digital payment markets. This research-driven expansion targets long-term stability in Africa’s rapidly growing digital economy, set to reach USD 1.5 trillion by 2030.
DG Financial Technology and au Financial Service launch NESTA, a secure, scalable payment platform supporting 40+ payment methods with tokenization and zero downtime. Aligned with KDDI’s growth strategy, NESTA enhances Japan’s digital payments ecosystem, starting with au and UQ mobile services and planning wider expansion.
Benefit highlighted Bahrain’s financial sector as a key driver of Economic Vision 2030 at the Kuwait Public Relations Conference. Emphasizing digital transformation and fintech innovation, Benefit showcased its role in financial inclusion and attracting foreign investment, aligning with national strategies and advancing sustainable economic growth.
The 19th IsDB Global Forum in Algiers focused on digital transformation and financial inclusion in Islamic finance. Key initiatives like the Medikids Project and AI Hackathon highlighted innovation, while discussions emphasized fintech, Sukuk, and sustainable development’s role in advancing the $4+ trillion Islamic finance industry.
Mohammed Al-Othman, CEO of NBK, discussed the bank’s digital transformation and innovations at the Dubai FinTech Summit 2025. He highlighted NBK’s leadership in AI-driven banking solutions, the success of Weyay Bank, and the collaborative role of fintech firms in driving Kuwait’s digital future, backed by strategic investments and regulatory support.