Commercial Bank of Dubai has become the first banks in the region to use robo-advisory investment solution by launching the “CBD Investr app.” Developed in partnership with InvestSuite, a leading wealthtech company based in Belgium, this innovative investment app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.
Finance and Policy ME
Saudi Payments, under the supervision of the Saudi Central Bank (SAMA), announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM and Mastercard.
To provide the UAE residents with safe, convenient and flexible payment solutions through an easy-to-use eWallet mobile app, the Digital Financial Services LLC, a joint venture of Etisalat and Dubai Islamic Bank, has partnered with Lulu Group International to enable secure and contactless payment options for eWallet customers.
A memorandum of understanding (MoU) between Microsoft and E-Tax, a company affiliated with Egypt’s Ministry of Finance, has been signed to drive the utilization of artificial intelligence (AI) as part of the Egyptian tax systems’ digital solutions.
Global technology company Mastercard, and Geidea, the largest fintech company in Saudi Arabia by market share, have announced a strategic partnership agreement to accept Mastercard payments on Tap-on-Phone solution in Saudi Arabia – the first such agreement to be signed in the Middle East and North Africa. Geidea is the first fintech company to roll out this contactless payment acceptance technology across the Kingdom, which will enable businesses to use smartphones as payment acceptance devices.
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