The Global Islamic Fintech Report (GIFT) 2021 presents that out of 64 key Islamic Fintech markets, the Organization of Islamic Cooperation (OIC) member countries dominate the top 10, particularly Malaysia, Saudi Arabia, United Arab Emirates (UAE), and Indonesia.
The Saudi Central Bank (SAMA) announced the licensing of International Digital Solutions Company to provide electronic wallet service (electronic transfer and payment service) and Azm Fintech Company to provide payment services through (SADAD Bill Aggregation Services).
In a bid to increase UAE's industrial revenues to 300 billion dirhams ($81.68 billion) over 10 years, Dubai Ruler Mohammed bin Rashid Al-Maktoum and Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan announced the plan on Twitter.
The solution for user verification, developed in collaboration with Moscow fintechs VisionLabs and Smart Engines, is integrated into the mobile application of Emirates NBD, one of the largest banks in the UAE.
Almost half of technology leaders, both globally and in the UAE, expect budgets for IT/technology to increase, driven by a surge in spending on operational efficiencies, customer engagement and data-driven insights. This is among the key findings of The Harvey Nash/KPMG CIO Survey 2020, one of the largest IT leadership surveys in the world, with over 4,200 responses from CIOs and technology executives across 83 countries.
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