Latest news with #MENAFintechAssociation
Zawya
a day ago
- Business
- Zawya
Qatar: Fintech gains momentum with digital payments and blockchain at forefront
DOHA: Qatar's fintech landscape is surging forward with remarkable momentum, driven by bold government initiatives, modern regulatory frameworks, and a thriving ecosystem of startups and corporate champions, an expert remarked. With nearly 99 percent of Qatar's population using online and smartphone penetration nearly universal, digital transactions have become the norm. Contactless payments now account for 96 percent of in-store transactions, spanning platforms such as Karwa Taxis and PayPal-enabled services, according to the MENA Fintech Association. 'Qatar is no longer just following global fintech trends—it's becoming a regional leader,' Sarah McAllister, a global fintech analyst, told The Peninsula. 'The integration of digital payments, open banking frameworks, and blockchain infrastructure is not only modernising financial services but is positioning Qatar as an innovation hub in the Gulf.' Meanwhile, the Qatar Mobile Payment initiative, launched by the Qatar Central Bank (QCB) in April 2025, allows users to link multiple wallets to a single phone number, streamlining transactions further, and mobile money platforms such as Ooredoo Money are innovating to serve expatriate communities, which enables remittances and cross-border transfers, including to PayPal accounts. The QCB introduced its fintech strategy in 2023, which features open banking as a key pillar, with a formal regulatory framework expected by 2026. On the other hand, blockchain and digital assets are emerging as strategic frontiers. Tasmu Digital Valley projects that Qatar's blockchain market could skyrocket from $33m in 2022 to $253m by 2026. McAllister noted that these developments have attracted global attention. Doha hosted the MENA Fintech Summit this year, drawing policymakers, investors, and innovators from across the region. The event highlighted sessions like the insurtech, blockchain, embedded finance, and the role of fintech in sustainable development. 'What sets Qatar's strategy apart is its coherence: regulatory foresight via the QCB, ecosystem development through QFTH, and the digital infrastructure built by private and public players all align under Qatar 2030's vision,' the market expert noted. As Qatar continues to expand its fintech footprint, several key trends are emerging. With open APIs and digital partnerships, banks and non-bank players are increasingly embedding financial services into everyday platforms. On the other hand, with Islamic and sustainable fintech, tailored products that align with religious and ESG standards are gaining ground. Additionally, the QCB's phased licensing for digital banks, with initial capital requirements lays a strong foundation for innovation. Industry leaders stress that these efforts reflect Qatar's ambition to build a diversified and knowledge-based economy. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Mid East Info
28-04-2025
- Business
- Mid East Info
'International Smart Card' and 'MENA Fintech Association' Forge Strategic Partnership to Shape the Future of Digital Finance in the Region
Dubai, United Arab Emirates: The MENA Fintech Association (MFTA), a not-for-profit organisation based in Dubai and registered with the Abu Dhabi International Financial Centre (ADGM), today announced partnership with the International Smart Card (ISC), aka Qi, Iraq's foremost provider of digital payments, fintech solutions, and digital identity services, as its newest corporate member. The alliance is set to catalyse innovation, accelerate digital payment adoption, and drive inclusive financial transformation across the MENA region. Through this partnership, MFTA and ISC will co-host a curated series of high-impact events across key regional hubs. These events will bring together fintech visionaries, regulatory leaders, and technology pioneers to engage in dialogue and shape the regional fintech agenda. The initiatives will provide a platform to address regulatory evolution, foster collaboration, and highlight the next wave of digital finance. International Smart Card's entry into the fintech community of the MENA region marks a pivotal moment in deepening collaboration in fintech ecosystem, across borders and reinforcing the spirit to drive sustainable innovation and inclusive growth within the financial sector. ISC-MFTA joint initiatives will be developed in close coordination with region's central banks, authorities, and fintech ecosystem stakeholders. Country-wise key initiatives are set to be unveiled in the coming weeks, promising exciting opportunities for both fintech pioneers and the wider digital economy. About Internation Smart Card: International Smart Card (ISC), also known as Qi, was founded in 2007 through a partnership between the private sector represented by the Iraqi Electronic Payment Systems and the public sector represented by the state-owned banks in Iraq. ISC has 17 years of experience in the financial technology sector and is considered the largest issuer and acquirer in Iraq. The ISC has introduced the Qi Card, the first biometric card in the Middle East, which is addressing the significant challenges faced by government employees, pensioners, and beneficiaries of the social security network. About MENA Fintech Association: The MENA Fintech Association (MFTA) is a not-for-profit collaborative platform dedicated to fostering innovation, growth, and regulatory advancements in the financial technology sector across the Middle East and North Africa (MENA) region.
Zawya
04-03-2025
- Business
- Zawya
Clyde Rosanowski joins Akshay Chopra as Co-Chair of MENA Fintech Association's SHIFT Payments Committee
Dubai, UAE – The MENA Fintech Association is pleased to announce the appointment of Clyde Rosanowski as Co-Chair of its SHIFT - Payments Committee, joining Akshay Chopra, President at Gennius XYZ and Co-Founder 237 Ventures, in leading the committee's mission to redefine the future of payments in the region. This transition marks a significant milestone as Clyde steps into the role previously held by Imane Adel, who played a pivotal role in shaping the committee's strategic direction. With an extensive background in digital payments, fintech, and regulatory frameworks, Clyde brings invaluable expertise to further strengthen the committee's commitment to advancing innovation, security, and efficiency in the financial services sector. Clyde Rosanowski has a distinguished career in the financial industry, having held leadership positions at Mastercard, Visa, and Commonwealth Bank of Australia. Currently, he serves as Senior Vice President – Head of Corporate Solutions for EEMEA at Mastercard, leading business development, product innovation, B2B Acceptance, and Partnerships across an 82-country region. His deep knowledge of payment infrastructure, cross-border transactions, and regulatory compliance will be instrumental in guiding the SHIFT - Payments Committee's initiatives. Welcoming Clyde to the committee, Nameer Khan, Chairman of the MENA Fintech Association, stated: 'We are thrilled to welcome Clyde Rosanowski as the new Co-Chair of the SHIFT - Payments Committee. His deep expertise in digital payments and regulatory landscapes will play a critical role in furthering our mission of fintech innovation and financial inclusivity across the MENA region. I want to extend my sincere gratitude to Imane Adel for her outstanding contributions and leadership in shaping the committee's journey thus far. With Clyde and Akshay Chopra at the helm, we are poised to drive the next wave of transformation in the payments sector.' Commenting on his appointment, Clyde Rosanowski added: 'I am honored to step into this role as Co-Chair of the SHIFT - Payments Committee alongside Akshay Chopra, building on the strong foundations laid by Imane Adel. As the MENA region undergoes an unprecedented digital transformation, I look forward to collaborating with industry leaders to champion secure, seamless, and inclusive payment solutions that address today's challenges while unlocking the opportunities of tomorrow. Together, we can shape a payments landscape that drives innovation, enhances trust, and fosters financial inclusivity across the region and beyond.' About MENA Fintech Association: The MENA FINTECH ASSOCIATION (MFTA) is an inclusive, not-for-profit association that fosters an open dialogue for the MENA Fintech community, shaping the future of financial services in the region. We have a growing community of Fintech startups and SMEs, financial institutions, technology companies, academia, investors, accelerators, as well as regulators and policymakers. Plus, cross-border knowledge exchange platforms and collaborations create a conducive Fintech ecosystem.
