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The slow rise of neobanking in the Middle East

Investasi Emas

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Investment firm ADQ, the holding company for some of the biggest assets in the UAE, announced plans to set up a digital bank with an initial capital of $544 million after obtaining the legacy licence from First Abu Dhabi Bank (FAB), a big step forward for the neobanking sector in the region. We took a closer look at the rise of the sector in Mena and the barriers that remain.

This pandemic has caused a crisis unlike any other in modern history, and while many suffered as a result, others sought out opportunities that the pandemic brought about. In this podcast, we spoke with Sedar Global, a 128-year old company, and Viromasks, a startup that did not exist at the beginning of this year, to get a better sense of how they seized the opportunity to produce masks.

This week, the Central Bank of Bahrain (CBB) launched FinHub 973, the first of its kind virtual fintech platform in the region. The platform is powered by FinX22, an open, cloud-based financial services platform developed by Fintech Galaxy, the digital crowdsourcing fintech company. Mirna Sleiman, founder and CEO of Fintech Galaxy, tells us about the launch of the new platform.

For startups and scaleups, a crisis can derail growth and deter potential investors if managed incorrectly. Sean Pattwell, founder and CEO of CW8 Communications, shares three key insights that can help startups manage a crisis when it hits, and explains that while the crisis may be inevitable, chaos is not.

#askWamda: Our new online mentorship service

Over the past decade, Wamda has played a key role in enabling entrepreneurship in the region. Now, we want to provide a more personal and direct service to founders in Mena through our virtual service for startups in need of mentorship or advice from our team, #askWamda.

In case you missed it - here's our round-up from News Watch:

JGroup invests $15 million in Dubai-based FoxPush

UAE's Amanat invests in US-based BEGiN

ArabyAds acquires AdFalcon

More investment, better regulations needed in Iraq

Aumet acquires Uniorders

Halcyon, AWS launch tech incubator for female founders in Middle East

Foundations Ventures launches early-stage fund, invests in 4 startups

Do you have a story you'd like to share with us? Drop us a line.

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The slow rise of neobanking in the Middle East

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