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The Egyptian Arab Land Bank is set to sell its 16 branches in Jordan, having received approval from both the Central Bank of Jordan and the Central Bank of Egypt. The decision, driven by regulatory requirements, necessitates a capital increase of 20 million Jordanian dinars to meet compliance standards. Currently, the bank is evaluating its assets and has received five preliminary acquisition offers from local banks.
Telr, a Dubai-based digital payments company, has obtained a Retail Payment Services license from the UAE Central Bank, allowing it to enhance its merchant acquiring and payment aggregation services. This milestone reinforces Telr's position in the digital payments sector and supports its mission to drive innovation in a cashless economy. The company offers a range of payment solutions across the UAE, Saudi Arabia, Bahrain, and Jordan, ensuring secure transactions through PCI-certified gateways.
ProgressSoft has partnered with Fintech Galaxy to enhance Open Banking in the MENA region by establishing national Open Banking hubs. This collaboration aims to improve API connectivity, secure data sharing, and transaction flows among financial institutions, ensuring compliance with regulatory standards and fostering innovation in the financial sector.
ULA, an Edtech startup, has raised $28 million in Series B funding to enhance AI-powered digital education in the MENA region, focusing on Saudi Arabia. The investment will support the development of a next-generation learning platform featuring personalized education, AR/VR integration, and advanced data analytics, aiming to bridge educational gaps across the Arab world.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Egyptian Arab Land Bank plans to sell Jordan branches amid capital raise needs
11:32 25.03.2025
telr receives central bank license to enhance digital payment services in uae
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06:16 24.03.2025
progresssoft and fintech galaxy join forces to enhance open banking in mena
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13:32 13.02.2025
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