Proceeds from initial public offerings (IPOs) in the Middle East and North Africa (MENA) region have surged, more than doubling to $2.4 billion in the first quarter of 2025. This increase represents a 106% rise year-on-year, driven by significant activity in Saudi Arabia, as reported by EY. During this period, the number of IPO listings...
The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, has approved the “UAE Strategy for Islamic Finance and Halal Industry.” This strategic initiative aims to bolster the country’s position as a global leader in Islamic finance and expand the halal...
The Dubai International Financial Centre (DIFC) is preparing to host the third edition of the Dubai FinTech Summit on May 12 and 13, 2025, at Madinat Jumeirah in Dubai. This summit, themed “FinTech for All,” will be held under the patronage of Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, the First Deputy Ruler of...
The Dubai Financial Market (DFM) has launched new AI insights for its iVestor platform, aiming to simplify company disclosures and financial reporting. This enhancement is part of DFM’s ongoing efforts to make the financial reporting process more efficient for listed companies and their stakeholders. With these new capabilities, iVestor users will benefit from advanced analytical...
The Family Office, a prominent wealth management firm in the Gulf Cooperation Council (GCC), has unveiled its new digital tool, FinancialGoal.com, in the Dubai International Financial Centre (DIFC). This innovative platform aims to assist investors in defining and achieving their financial objectives through personalized investment strategies focused on private market opportunities. As economic conditions shift...
Alpheya, a wealth management technology platform backed by BNY and Lunate, is set to open a new office in Al Ain. This expansion is supported by the Abu Dhabi Investment Office (ADIO) and aims to strengthen Abu Dhabi’s wealth management ecosystem while enhancing digital financial capabilities in the region. The partnership with ADIO is strategically...
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....