Latest news with #MDP
Fintech News ME
3 days ago
- Business
- Fintech News ME
MDP Builds Advanced Processing Hub with BPC in the MEA Region
MDP, a longstanding player in Africa's card issuing and processing sector, is reinforcing its position across the Middle East and Africa (MEA) through a strategic collaboration with global payment solutions provider BPC. The partnership has resulted in the development of a next-generation third-party processing centre, built using BPC's SmartVista platform, aimed at delivering secure, scalable, and integrated payment services throughout the region. With this technology, MDP has established a modular stack that integrates issuing, acquiring, and processing services. This architecture enables the company to serve banks, fintechs, and merchants across the MEA region with increased flexibility. MDP's objective was to develop a processing hub capable of offering comprehensive services while accommodating the evolving needs of its clients. The rollout followed a phased go-live approach, with each SmartVista module activated in line with new client onboarding. This strategy allowed MDP to scale operations in parallel with market expansion. SmartVista's card management capabilities support the issuance of tailored debit, credit, and prepaid products for business clients. On the acquiring side, the platform facilitates acceptance of Visa, Mastercard, and EBC-branded cards across MDP's network. Fraud prevention and 3D Secure ACS are also incorporated into the service offering. Central to the setup is the SmartVista Integration Platform, which, through the use of advanced APIs, allows MDP to develop and manage its own API gateway in-house. This enhances client onboarding and responsiveness to market shifts, while maintaining system stability. Currently, MDP serves over 260 financial institutions in more than 40 countries, positioning it among the more established processors in the MEA region. Its focus on infrastructure, local talent, and product development has supported the launch of various payment solutions, from closed-loop card systems to open-loop services for emerging digital platforms. Commenting on the collaboration, Usama El Sayed, Managing Director MEA at BPC, said: 'We are proud to be the technology partner of MDP, helping the processor drive innovation and deliver payment experience through the MEA market. With SmartVista's advanced, modular design, MDP can launch, migrate, and innovate at speed, building an ecosystem from scratch and elevating digital payments across the region.' Ahmed Nafie, CEO of MDP, added: 'Through our collaboration with BPC and the SmartVista platform, we have redefined what it means to be a processor in today's market, delivering not just services, but scalable ecosystems that enable innovation and financial inclusion across the region. Our commitment to regional demands and financial growth remains at the heart of everything we do.'
The Diplomat
31-07-2025
- Business
- The Diplomat
Bilateral Bonhomie During PM Modi's Visit to the Maldives
Hugs and handshakes are heartening. But India needs to ensure that 'India Out' campaigns do not re-emerge. After several months of flailing around in turbulent waters, the India-Maldives relationship is cruising again. Deft navigation on the part of the two governments has contributed to steadying the bilateral relationship. During Prime Minister Narendra Modi's visit to the Maldives on July 25-26, the two governments signed several important agreements covering debt repayment, fisheries, health, tourism, and digital payments. In addition to extending a new credit line of $565 million for development projects in the Maldives, India agreed to reduce its loan repayment burden from nearly $51 million annually to about $29 million — a 40 percent reduction. The visit also saw the start of talks on a free trade agreement. Modi and Maldivian President Mohamed Muizzu jointly inaugurated infrastructure projects; pledged cooperation on climate, disaster risk, and renewable energy; and reaffirmed commitment to a stronger economic and maritime partnership. Modi also handed over 3,300 social housing units and medical equipment. The depth and diversity of India-Maldivian cooperation were on full display during Modi's visit, signaling the return of a measure of calm in the bilateral engagement. India-Maldives ties have generally been warm. The two countries have engaged in robust economic and defense cooperation for decades. India has played a major role in building the Maldives' human and infrastructural capacity, and has been the first responder in times of political crisis, natural disasters, and health emergencies. However, relations soured off and on over the past decade. President Abdulla Yameen's authoritarian rule (2013-2018) and tilt toward China did not go down well in New Delhi. Ties frayed. After he was voted out of office, Yameen spearheaded an 'India Out' campaign to target the India-friendly Maldivian Democratic Party (MDP) government. Building on the momentum of Yameen's campaign, Muizzu made the eviction of Indian security personnel from the archipelago his main election plank. It helped propel him to the presidency in November 2023. As it turned out, Muizzu's call for the withdrawal of Indian military personnel was not just election rhetoric. He persisted with the demand for several months after his swearing-in, raising the issue in meetings with Modi and other Indian leaders and officials, and subsequently even issued a deadline for the pullout of Indian military personnel. Unlike previous Maldivian presidents who made India the destination of their first official visit, Muizzu headed to Turkiye and China. He signed 20 agreements with China in January 2024 and allowed a Chinese research ship, Xiang Yang Hong 3, to dock in the Maldives. Not surprisingly, it drew New Delhi's ire. Meanwhile, a war of words broke out on social media. When three deputy ministers in the Muizzu government described Modi in their posts as a 'clown, 'a terrorist,' and a 'puppet of Israel,' Modi's supporters hit back by calling on Indian tourists to boycott the Maldives. The online spat quickly escalated into a diplomatic row. Muizzu repeatedly provoked India in the early months of his presidency. In January 2024, on his return from Beijing, the Maldivian president said in a veiled reference to India that the Indian Ocean 'does not belong to a specific country.' 'We may be small but this doesn't give them [India] the license to bully us,' he said. Eighteen months after those anti-India jibes, Muizzu broke protocol to welcome Modi at the airport. His government rolled out the red carpet for the Indian leader and welcomed him with a 21-gun salute. Huge cutouts of Modi greeted him in Malé. Muizzu was effusive in his praise of Modi, describing him as a 'wonderful person who is very fond of building relationships between India's neighbors,' he said. He waxed eloquent on the 'very good relationship' between India and the Maldives 'that goes back centuries.' As for India's role in the Maldives, Muizzu said that 'India has helped develop Maldives in the past. And, nobody will doubt how India will be a very crucial partner in going forward.' Muizzu was not just humming a different tune but a different song. From shrill demands for 'India Out,' he has shifted to endorsing a close partnership with India. How did he get here? There are several reasons underlying this shift. First is the dire state of the Maldivian economy; the archipelago is struggling with a substantial budget deficit and dwindling foreign reserves. With China's support proving to be rather underwhelming – talks on loan restructuring initiated during Muizzu's Beijing visit in January 2024 have seen little progress so far – India's support has emerged critical. Second is the shift in India's approach to dealing with a smaller neighbor. Unlike in Bangladesh, where the ouster of a pro-India leader (Sheikh Hasina) in a mass uprising has seen India turn rather unfriendly to Bangladesh, in the case of the Maldives, India adopted an 'accommodative' approach. As Aditya Gowdara Shivamurthy, associate fellow at the New Delhi-based Observer Research Foundation, wrote recently, New Delhi 'understood domestic compulsions of Muizzu's demands [for India to pull out its military personnel stationed in the archipelago] and replaced its 76 troops with technicians in May 2024.' Despite Muizzu's repeated provocations, India continued to engage with the Maldives, choosing restraint rather than reprimand and rhetoric in dealing with this strategically located neighbor. The bilateral bonhomie on display at Malé during Modi's visit did not happen overnight. Since at least May last year, India and the Maldives have been engaging with each other not just at the highest levels but in a sustained manner. Muizzu's objections to India's presence, even military presence, lasted a few months into his presidency. But when he visited Delhi in October 2024, he put out the welcome mat for Indian military presence in the archipelago. Under the Vision Statement that India and the Maldives adopted during the Delhi visit, Muizzu agreed to allow India to open a consulate in Addu, the Maldives' southernmost atoll; seek Indian support on 'hydrographic matters;' and complete the military harbor at Uthuru Thila Falhu with India's assistance. The Muizzu government also agreed to India providing radar systems and 'support Maldives with provisioning of defense platforms and assets.' It was during Muizzu's visit to Delhi that bilateral relations were reset. At Malé, the relationship was steadied. Sections of the Indian media have interpreted the recent bonhomie as a sign of 'China Out, India In' in the Maldives. This is an excessively optimistic reading of the visit. China's shadow over the Maldives looms. It would be unrealistic on India's part to expect Malé not to do business with Beijing. China's presence in the Maldives is already substantial and given its interests in the Indian Ocean, Beijing will use its financial muscle to further expand its influence in the archipelago. To counter China, India will need to make better offers to Malé. The possibility of Maldivian politicians and parties initiating new 'India Out' campaigns cannot be ruled out. India will need to keep the Maldivian people on its side. India and the Maldives share strong social and cultural ties that go back centuries. India has been the preferred destination of Maldivians seeking better education and health facilities. It needs to build on its soft power in the Maldives. Importantly, it must ensure that its aid to Malé is not just about security and defense but directed to people-focused projects as well.
India Today
27-07-2025
- Politics
- India Today
From 'India Out' to red carpet for Modi: How Delhi turned Maldives around
About two years ago, when Mohamed Muizzu defeated Ibrahim Mohamed Solih of the Maldivian Democratic Party (MDP) to become the President of the Maldives, the prospect of diplomatic warmth between him and Prime Minister Narendra Modi, such as seen on Friday, seemed improbable. Muizzu's "India Out" campaign had strained ties with New Delhi. But in less than two years, the Maldivian President, in a rare break from protocol, made a grand gesture by personally receiving Prime Minister Modi upon his arrival in observers said the "hug" between the two leaders symbolised a reset in the strained ties. Some analysts also added that Muizzu may be "two-timing" by also leaning towards China. Still, the red carpet treatment and the 21-gun salute for PM Modi were no ordinary gestures, especially amid strained ties for about two development underscores India's understated diplomacy that constantly provided support to the Maldives despite its hostile approach towards India under DEMAND TO REMOVE INDIAN TROOPS FROM MALDIVES The issue dates back to 2023, when Muizzu demanded the withdrawal of approximately 90 Indian military personnel stationed in the Maldives for medical evacuations and maritime surveillance, framing their presence as an infringement on the Maldives' pivot towards China, including a state visit in January 2024 and the signing of 20 MoUs to deepen bilateral ties, raised concerns in New Delhi about a potential strategic shift in the Indian Ocean Maldives, under Muizzu, inked a pact with China for "non-lethal" weapons at no cost. Beijing also agreed to train Maldivian soldiers – another signal of the island nation distancing itself from India, which previously, along with the US, conducted such complied by withdrawing its military personnel, and did not sever ties with the Maldives. Instead, it continued, and even expanded, its development assistance and aid to the island fact, following the withdrawal, India replaced its personnel with civilian technical staff from Hindustan Aeronautics Limited to operate two helicopters and a Dornier aircraft gifted to the EXTENDED FINANCIAL AID TO MUIZZU GOVERNMENTOver the following months, this continued support bore fruit, contributing to what now appears to be a resetting of about a week after withdrawing the troops, in May 2024, India extended vital budgetary support by rolling over a $50 million Treasury Bill for an additional year through the State Bank of India in Male, helping the Maldives manage its fiscal Foreign Minister Moosa Zameer publicly thanked India for the gesture, emphasising the longstanding friendship between the two October 2024, India provided a $400 million emergency financial package and a Rs 3,000 crore (approximately $360 million) currency swap agreement to stabilise the Maldivian economy, which was under strain from a high debt-to-GDP ratio and maturing also agreed to explore debt relief measures for the Maldives' $400.9 million debt to India, as requested by support didn't end there. In 2025, India increased its aid to the Maldives by 28%, allocating Rs 600 crore to support economic stability and development projects, signalling a renewed commitment to bilateral SAW PROMOTION OF LAKSHADWEEP AS A THREATHowever, India's promotion of Lakshadweep as an alternative tourist destination, urging citizens to visit the western archipelago, was perceived in the Maldives, which has been a favourite destination for Indian celebrities, challenge its tourism Minister Modi in January last year posted a photo of himself from a Lakshadweep Indians might have cancelled their Maldives plan, but the island nation continued to feature in the social media posts of Indian FUNDING CRITICAL INFRA PROJECTS IN MALDIVESDespite the pushback on the tourism front, India continued funding critical infrastructure projects in the Maldives, including the Greater Male Connectivity Project, which aims to enhance economic mobility by connecting $500-million project, funded through a $100-million grant and a $400-million line of credit from India, is constructing a 6.74-km bridge and causeway network to connect the capital, Male, with three neighbouring islands – Villingili, Gulhifalhu, and Thilafushi – enhancing connectivity for nearly half of the Maldivian other investments in the Maldives include housing, sanitation, clean energy installations, and capacity-building the welcome extended to PM Modi in Male was not a sudden thaw. It was a result of India's quiet and consistent diplomacy which endured even as the Maldives tilted towards provocations and shifting allegiances, India chose engagement over escalation. Now, the geopolitical tides have again shifted in the strategic Indian Ocean Region.- EndsTune InMust Watch
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First Post
25-07-2025
- Politics
- First Post
PM Modi's visit to Maldives: From friction to forward-thinking
Prime Minister Narendra Modi's visit to the Maldives— with its symbolic, strategic, and economic weight — is aimed not just at mending fences, but at charting a stable, long-term partnership read more When Prime Minister Narendra Modi visits the Maldives on 25 July for a two-day trip, it will mark a unique diplomatic precedent. He becomes the first Head of Government to visit the Indian Ocean archipelago under successive Maldivian regimes — each with sharply contrasting foreign policy orientations. Modi was the sole overseas leader invited to the inauguration of former President Ibrahim 'Ibu' Solih. By contrast, his visit to Maldives under the current President, Dr Mohamed Muizzu, comes 21 months after the latter assumed office — yet he is still the first foreign leader received by the Muizzu administration. STORY CONTINUES BELOW THIS AD What began as preparations to jointly celebrate 60 years of India-Maldives diplomatic ties evolved into a more significant event when PM Modi was invited as the Guest of Honour for the Maldives' 60th Independence Day on 26 July — a rare gesture, as Maldives does not typically host foreign VVIPs for this occasion. Resetting Relations President Muizzu's delay in inviting Modi also reflects the time needed to reset relations that had been strained during his early months in office. Initially, Muizzu echoed the combative rhetoric of his political mentor, former President Abdulla Yameen, who spearheaded the 'India Out' campaign. However, experience has taught Muizzu the practical value of Indian support — as a reliable 'first responder' during crises, a role New Delhi has played not just in Maldives but also in Sri Lanka. His initial tilt toward Turkey and China, marked by official visits and pointed criticism of India, was driven more by domestic political posturing than strategic depth. His statements alienated India's strategic community, but it's worth noting that New Delhi had not extended him an invitation at the time — and Muizzu needed to quickly establish international legitimacy. New Delhi also took time to assess Muizzu's foreign policy orientation, especially given the belief — often overstated — that his electoral victory in 2023 was rooted in an anti-India stance. In truth, Muizzu capitalized more on the anti-incumbency sentiment against Solih, whose Maldivian Democratic Party (MDP) was crippled by internal feuds, particularly between Solih and his estranged ally and former President, Mohamed Nasheed. STORY CONTINUES BELOW THIS AD Yameen and the China Factor Yameen, despite making three visits to India during his presidency (2013–2018), failed to reciprocate Modi's outreach. He instead pivoted toward China, which culminated in President Xi Jinping's historic visit to the Maldives. Yameen also sought Indian assistance for infrastructure projects such as a Coast Guard jetty — only to oppose the same under Solih. He even demanded the withdrawal of Indian helicopters meant for humanitarian operations. Under his regime, Maldives signed an FTA with China, but both Yameen and Solih later shelved its implementation — now criticized domestically as one-sided and damaging to Maldives' fragile economy. Missteps and Maturity Muizzu initially mirrored Yameen's approach, casting aspersions on India and questioning its role in supplying basic goods like rice, sugar, and medicines — claiming Maldives would diversify imports from distant sources such as Turkey, Europe, and the U.S. But the global disruption in shipping routes due to the Gaza conflict and Houthi attacks exposed the impracticality of such alternatives. STORY CONTINUES BELOW THIS AD Behind the scenes, Maldives quietly approached India for help. New Delhi responded with grace, reflecting Modi's oft-repeated motto, Vasudhaiva Kutumbakam ('The world is one family'). The first sign of rapprochement came during a meeting between Modi and Muizzu at the Climate Summit in Dubai, where they agreed to resolve issues through dialogue. A High-Level Core Group was set up to address bilateral concerns, including Muizzu's demand for the withdrawal of Indian military personnel. It turned out that only around 60 Indian personnel were stationed to operate Indian-donated aircraft for emergency services. India agreed to replace them with civilian pilots and engineers — a gesture that cleared a major diplomatic hurdle. Social Media Fallout: 'Boycott Maldives' Yet, social media activism in India inflamed matters when three junior Maldivian ministers insulted PM Modi following his visit to Lakshadweep. The resulting #BoycottMaldives campaign significantly dented Maldivian tourism, which had previously benefited from Indian travellers being the largest source market. STORY CONTINUES BELOW THIS AD Muizzu suspended the ministers before departing for China but later returned with renewed hostility, casting a shadow on his diplomatic intent. The episode remains a grey area in India-Maldives relations, though both sides have since opted to move on. Ironically, Indian social media influencers also called for a boycott of Turkey — despite New Delhi steadily normalizing ties with adversaries like China, even after the Galwan clash. India recently resumed issuing tourist visas to Chinese citizens and is quietly de-escalating tensions. The message: diplomacy is better handled by statesmen, not social media warriors. Vision for the Future President Muizzu visited India twice in 2024 — first for Modi's swearing-in (Modi 3.0) in June, followed by a State visit in October, during which a Vision Document for a Comprehensive Economic and Maritime Security Partnership was signed. During Modi's current visit, the two sides will review progress on that agreement, focusing on Indian-funded infrastructure and development projects. Reports suggest Maldives has requested further financial assistance, which India is likely to approve — especially after finding Chinese financial support insufficient. STORY CONTINUES BELOW THIS AD However, breakthroughs on maritime security remain tentative. Discussions have resumed about India helping to map the Maldivian seabed for mineral resources, but it remains to be seen how this progresses. Likewise, prospects for a bilateral Free Trade Agreement (FTA) are uncertain, given past controversies. India's Foreign Secretary Vikram Misri recently confirmed that an FTA is now on the table. But given the Maldives-China FTA experience, many Maldivians remain skeptical of deals perceived as unequal. Strategic Concerns India continues to monitor the movements of Chinese 'spy ships' in the region. When Maldives allowed one such vessel to dock last year, Muizzu's government emphasized it was only for resupply, not research. Improved relations with India may deter further provocations from Beijing in the near term. From New Delhi's standpoint, the message is clear: Modi's visit symbolizes India's commitment to work with any elected Maldivian government for mutual benefit and regional stability — regardless of domestic political churn in Male. STORY CONTINUES BELOW THIS AD Domestic Challenges for Muizzu Muizzu's visit to the UK, and his failure to raise the Chagos Archipelago issue, has sparked criticism at home. He had earlier vowed to reclaim the territory from Mauritius — a claim abandoned by Solih's government, aligning with international consensus. Critics may attempt to link Modi's visit to political developments such as the reunification of the MDP, but the optics clearly favour India's consistent approach to respecting Maldivian sovereignty and democratic choice. Moreover, Muizzu's consolidation of power through constitutional changes, including a controversial anti-defection law and the removal of judges, raises new questions about domestic governance. Whether he can balance internal stability with external diplomacy remains to be seen. Looking Ahead Just days after Modi's departure, Sri Lankan President Anura Kumara Dissanayake is scheduled to arrive in Maldives for a three-day visit, expected to include the signing of an FTA and other cooperative agreements. This sequencing of high-level visits underlines Maldives' increasing relevance in regional geopolitics. From a strategic and economic standpoint, Maldives is emerging once again as a crucial node in India's maritime neighbourhood. Modi's visit — with its symbolic, strategic, and economic weight — is aimed not just at mending fences, but at charting a stable, long-term partnership. The writer is a Chennai-based Policy Analyst & Political Commentator. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views
Zawya
21-07-2025
- Business
- Zawya
MDP enables tokenization for secure electronic transactions in collaboration with Meeza and Apple Pay
Cairo, Egypt – MDP, Africa's leading digital payments enabler, proudly announces a major milestone in advancing secure digital payments to become the first payment processor in Egypt to enable tokenization for electronic transactions, in strategic collaboration with the National Payment Scheme 'Meeza' via Apple Wallet. This achievement marks the successful completion of the token provisioning phase, enabling the authorization of tokenized transactions. As a result, all banks and fintechs in Egypt can now offer their customers the ability to digitally provision their physical cards into Apple Wallet, transforming any compatible iPhone or Apple device into a secure, contactless payment tool. With tokenization, sensitive card data is replaced with a unique digital token, significantly enhancing transaction security and minimizing the risk of fraud. This launch introduces a new digital transaction method in Egypt, one where consumers can pay using their smartphones or smartwatches, authenticated through Face ID, Touch ID, or a device passcode. Each transaction is authorized using a one-time, dynamic security code, ensuring that actual card details are never stored on the device or shared with merchants. Consumers can now enjoy a seamless, fast, and highly secure payment experience across both POS terminals and e-commerce platforms using their cards on Apple devices. This launch aligns with the vision set by the Central Bank of Egypt following the introduction of the card tokenization service, aimed at accelerating secure, digital payment adoption nationwide. According to the Central Bank, the value of POS transactions reached approximately EGP 640 billion by the end of 2024, reflecting a 280% increase from EGP 169 billion in 2021. In parallel, e-commerce transactions exceeded EGP 180 billion, up from EGP 29 billion in 2021, marking growth of over 500%. Tokenization plays a key role in supporting this expansion by enabling safer, faster, and more convenient digital transactions across all channels. 'This marks a critical step forward for Egypt's digital economy. By becoming the first to enable tokenization, MDP is unlocking a secure and scalable future for payments in Egypt. Through our collaboration with Meeza and Apple, we're enabling every bank and fintech to offer customers safe, contactless payments using the cards they already trust.' said Ahmed Nafie, CEO & Co-founder of MDP. This is not just a technical milestone, it's a turning point in how payments are made in Egypt. By successfully completing the provisioning phase, we've enabled every physical card to go digital. This means any bank or fintech can now securely tokenize their cards and offer seamless digital payments through Apple Wallet. It's a foundational step toward building an open, secure, and future-ready payments ecosystem and we're proud to be at the forefront of this transformation' added Hisham Mohy, COO of Processing at MDP. With Egypt's payment landscape rapidly evolving, MDP's enablement of token provisioning and transaction authorization stands as a foundational advancement, positioning Egypt among the global leaders in digital payment innovation.
