Paytm Cloud Technologies Ltd (PCTL), a subsidiary of fintech company Paytm, has officially launched a wholly owned subsidiary in the United Arab Emirates (UAE). The new entity is named Paytm Arab Payments LLC and focuses on offering technology-driven merchant payments and financial services in the region. In an exchange filing, PCTL’s board confirmed an investment...
Artificial Intelligence (AI) is significantly transforming financial reporting and auditing globally, with 72% of companies already piloting or using AI tools. This figure is projected to soar to 99% within the next three years, as highlighted in KPMG’s report titled “AI in Financial Reporting and Audit: Navigating the New Era.” This global trend is also...
Abu Dhabi-based Lunate has announced it is taking a stake in Azura Partners, a rapidly growing wealth management firm founded by former Julius Baer Group Ltd. executive Ali Jamal. This collaboration will enable Azura to increase its hiring and expand its product offerings in an effort to boost its assets under management, which currently total...
Pemo, a comprehensive spend management platform, has officially launched in Saudi Arabia, offering innovative financial solutions tailored for businesses across the Kingdom. The company, which has secured $19 million in funding from international investors, aims to provide smart corporate and virtual cards, automated receipt collection, and AI-driven accounting to simplify expense tracking and invoice management....
Abu Dhabi’s state oil company, the Abu Dhabi National Oil Company (ADNOC), is set to raise $1.5 billion from its first-ever sale of Islamic bonds, known as sukuk. This information was revealed in a document reviewed by Reuters on Monday. The sukuk will be issued at a rate of 60 basis points above U.S. Treasuries....
Ottu has announced a strategic partnership with HyperPay, a provider of digital payment solutions, through a Mutual Collaboration Agreement (MCA). This alliance signifies a major step in transforming the digital payments landscape across the Middle East and North Africa (MENA) region, combining the strengths of two leading fintech innovators to create a smarter, more secure,...
Al Hassan Ghazi Ibrahim Shaker Co., commonly known as Shaker, has signed an agreement with BSF to introduce the “EasyPay” financing program. This initiative aims to enhance consumer financing options, allowing Shaker to provide more accessible and flexible payment solutions for customers across Saudi Arabia. The EasyPay program will enable customers to finance their purchases...
DMCC, the leading international business district in Dubai, has reached a significant milestone by securing Shariah certification for its DMCC Tradeflow platform. This achievement is expected to enhance Dubai’s position as a global hub for Islamic finance. Credit: ZAWYA The certification was granted by the Shariah Board of the Dubai Islamic Economy Development Centre. This...
Hedge fund leaders, including prominent figures like Ken Griffin and Paul Singer, convened in Abu Dhabi for a private event organized by Goldman Sachs Group Inc. The gathering focused on the substantial financial resources available in the Middle East, particularly as US investors prepare for potential recession risks. The meeting highlighted the growing appeal of...
Fuze, a rapidly growing financial infrastructure provider in the Middle East, has obtained a Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE (CBUAE). This approval allows Fuze to operate as a regulated payment services provider in the region through its subsidiary, Niobe Payment Services LLC SPC. With this...