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i2c Expands Presence in Middle East and Africa Due to High Demand for Its Agile Processing
March 3, 2020

i2c Inc., a leading provider of payment and open banking technology, today announced it is expanding its presence in the Middle East and Africa (MEA) due to high demand in the region for its solutions. i2c partners with financial institutions, fintechs and governments using its unique i2c agile processing technology and APIs to bring innovative credit, debit, prepaid, and multi-currency solutions to market quickly. To support the growth in MEA, i2c added a General Manager position to its team and is announcing today the appointment of payments industry veteran Aurangzaib Khan to the position. Khan is based in Dubai. Prior to joining i2c, Khan was VP, Government Business Development for Mastercard in the UAE and Oman where he managed government relationships and engagement in the areas of policy and regulation,......

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Jim McCarthy Joins i2c as President
March 2, 2020

i2c Inc., a leading provider of payment and open banking technology, today announced the appointment of Jim McCarthy as President of the company. Reporting to i2c CEO and founder Amir Wain, McCarthy is responsible for i2c teams working with clients, partners and prospects. He is based at i2c headquarters in Silicon Valley. McCarthy is an industry veteran with over 20 years of experience in financial services across all stakeholders in the payments and open banking industries. Most recently, he has served as a strategic consultant and advisor to many Silicon Valley fintech startups. At Visa, where McCarthy worked for eighteen years, he held senior positions in sales, risk and authentication, consumer credit, digital products, product innovation and payments. During his last position as Visa’s EVP......

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Finablr eyes Saudi expansion after BayanPay licence announcement
February 27, 2020

Finablr network brand BayanPay – a Saudi based digital payments firm – has been awarded a payment services provider licence by the Saudi Arabian Monetary Authority (SAMA), allowing it to offer digital wallets, e-commerce and SME business payment products in the kingdom.

BayanPay’s portfolio includes BayanPay Business, an online payments gateway services aggregator designed"...

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Saudi central bank governor opens fintech gathering in Riyadh
February 26, 2020

LONDON: Saudi Arabia aspires to become a pioneering hub for the financial technology (fintech) sector, central bank governor Ahmed Alkholifey told the MEFTECH conference in Riyadh on Tuesday.

The two-day conference and exhibition brings together leading industry experts in digital payments, artificial intelligence and blockchain.

“The"...

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Saudi bank SABB set to relax rules to boost home loan lending
February 25, 2020

HSBC Holdings’ affiliate in Saudi Arabia is ready to “compete aggressively” to regain market share in corporate lending after acquiring Alawwal Bank.

“We have no appetite whatsoever to continue to lose market share,” Saudi British Bank’s managing director David Dew said in an interview in Riyadh. “For SABB, margins as a whole have peaked for this"...

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Western Union Launches Worldwide Coronavirus Relief Drive
February 17, 2020

(AETOS Wire)-- Today, Western Union (NYSE: WU) a leader in cross-border, cross-currency money movement and payments, and the Western Union Foundation announced a USD $1M global matching challenge to help fight COVID-19 (coronavirus) and for relief in China and other affected countries. The combined Western Union and Western Union Foundation match will be up to USD $500,000. The Western Union Foundation is accepting contributions from Western Union employees, Agents, customers, and the public, across the globe between now and April 14, 2020. The aid will be pledged to local and global NGOs, including Give2Asia and International Medical Corps* for ongoing relief efforts in China and other impacted nations throughout the world, including to purchase supplies, equipment and frontline medical treatment. As of February 13, 46,997 individuals are estimated to have been infected with COVID-19, with 1,368 deaths globally (46,550 cases and 1,368 deaths in China), according......

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1.86 Customer Minutes Lost (CML) of Electricity per Year in Dubai
February 17, 2020

Dubai Electricity and Water Authority (DEWA) has achieved a new world record in electricity Customer Minutes Lost (CML) per year. DEWA recorded 1.86 minutes, in Dubai, compared to around 15 minutes recorded by leading electricity companies in the European Union. This is a new addition to DEWA’s record of international achievements in electricity and water services.

“At DEWA,"...

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Bank helps Jazan’s budding entrepreneurs with $67 million funding
February 16, 2020

JAZAN: Young Saudi entrepreneurs in Jazan benefited from government plans and programs to help develop promising ideas and fund future projects in line with Saudi Vision 2030.
The projects extended all over Jazan’s governorates, with Social Development Bank funding in the area as part of its leading role in funding micro, small and medium projects.
Since the launch of its funding programs, the bank has funded around 1,600 productive projects in"...

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HSBC Saudi Arabia acts as financial advisor to SWCC
February 13, 2020

JEDDAH - HSBC Saudi Arabia is acting as financial advisor to the Saline Water Conversion Corporation on its first private sector financing since being established to structure financing solutions for the development of new, more efficient desalination projects in the Kingdom of Saudi Arabia. The corporation is considered a world leader in water desalination and a key contributor to research activities in the desalination sector both locally and internationally....

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30 Teams to Vie for Honors at US$5-Million Mohamed Bin Zayed International Robotics Challenge 2020 in Abu Dhabi
February 11, 2020

Khalifa University of Science and Technology, organizers of the Mohamed Bin Zayed International Robotics Challenge, announced a total of 30 teams will be competing for honors at MBZIRC 2020, the second edition of US$5-million biennial competition to be held from 23-25 February in Abu Dhabi, UAE, in parallel with the 4th edition of Unmanned System Exhibition (UMEX) and Simulation & Training Exhibition and Conference (SIMTEX) 2020.

Around"...

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