Latest news with #Oman-based
Fintech News ME
3 days ago
- Business
- Fintech News ME
Mastercard and Monak Launch Digital Platform for Migrant Workers
Mastercard has partnered with Oman-based fintech firm Monak to introduce a digital financial services platform aimed at improving cross-border money transfers for migrant workers and streamlining wage disbursement and onboarding processes for employers. The initiative also seeks to lower the cost and complexity typically linked to basic financial services, supporting wider financial inclusion efforts. The platform responds to long-standing challenges faced by migrant workers, a group that has traditionally been underserved by formal financial systems. By offering tools for easier money transfers and expense management, often delayed by slow onboarding. this partnership aims to narrow access gaps and promote greater economic stability for workers and their families. Figures from the United Nations Department of Economic and Social Affairs (UN DESA) estimate that Gulf Cooperation Council (GCC) countries host over 30 million migrant workers, accounting for more than half of the region's population. This substantial presence highlights the importance of companies like Monak, which focus on the specific financial needs of this demographic. Monak also provides migrant workers with the necessary skills and knowledge to manage digital financial tools effectively. 'Everyone deserves the freedom to thrive in the digital economy. When people benefit from the ease of money movement, convenience of digital wages and financial services access, it also provides confidence when working far from home, which is why this is such a benefit for migrant workers,' said Muhammad Nana, Senior Vice President, Digital Partnerships, Eastern Europe, Middle East and Africa at Mastercard. 'Through our partnership with Monak, we are advancing our efforts to empower migrant workers and ensure they can fully participate in the digital economy beyond their own borders.' This collaboration continues Mastercard's broader work to improve financial inclusion in underserved communities. By developing partnerships and products that increase access to digital tools, Mastercard aims to support more individuals in achieving financial security and accessing essential services. 'We are delighted to team up with Mastercard, to offer seamless and user-friendly financial services experience to our valued partners across the Middle East, Asia and Africa. This collaboration marks a significant milestone in our expansion strategy, particularly within the burgeoning Middle East market, reinforces our mission to enable inclusive digital transformation,' said Said Salim Al Shanfari, co-founder and managing director at Monak. The platform also offers benefits to employers by integrating recruitment, onboarding and payroll functions. It enables timely wage payments and allows workers to remit funds to their families securely and efficiently, contributing to better worker satisfaction and operational processes.
TECHx
4 days ago
- Business
- TECHx
Mastercard and Monak Launch Digital Platform for Workers
Home » Emerging technologies » Fintech » Mastercard and Monak Launch Digital Platform for Migrant Workers Mastercard has announced a partnership with Monak, an Oman-based fintech company, to launch a digital financial services platform. The platform aims to improve cross-border money transfers for migrant workers. It also streamlines wage disbursement and onboarding processes for employers. This initiative addresses key challenges faced by migrant workers, a group often underserved by formal financial services. By offering seamless money movement and expense management tools, the platform reduces delays caused by slow onboarding. It also lowers the cost and complexity of basic financial services. These efforts support broader financial inclusion. According to the UN Department of Economic and Social Affairs, GCC countries host over 30 million foreign workers, making up more than half of the region's population. This highlights the importance of Monak's focus on migrant workers. The company equips users with skills to navigate the digital financial landscape. Mastercard's Senior VP, Muhammad Nana, said the partnership advances financial inclusion and empowers migrant workers to participate fully in the digital economy. Meanwhile, Monak's co-founder Said Salim Al Shanfari emphasized the platform's role in inclusive digital transformation across the Middle East, Asia, and Africa. Employers also benefit from integrated recruitment, onboarding, and payroll tools. The platform enables timely wage payments and fast, secure remittances back to workers' families. This enhances worker satisfaction and operational efficiency. Monak also promotes digital and financial literacy to empower users beyond just financial access. The company recently joined the Sanabil 500 MENA Seed Accelerator Program, highlighting its commitment to innovation. Partnership targets financial inclusion for migrant workers Platform simplifies cross-border payments and payroll Monak recognized by Sanabil 500 MENA Accelerator Program
Muscat Daily
4 days ago
- Entertainment
- Muscat Daily
Indian Embassy screens short anti-drugs film ‘Paru'
Muscat – Indian Embassy in Muscat hosted a screening of Paru on Monday in the presence of H E GV Srinivas, Indian Ambassador to Oman, as chief guest, and Omani actor Talib al Balushi as guest of honour. Paru is a short film made as part of the World Malayalee Federation's anti-drug campaign. Written and directed by Kabeer Yousuf, Paru tells the story of an Indian couple living in a Gulf state whose drug-addicted teenage son dies prematurely. The tragedy pushes the mother into mental distress, requiring treatment, while the father struggles to cope with his disturbed personal and professional life. The narrative unfolds as a journey through grief, struggle and rediscovery of love. Produced by Ameen Mohammed and Sajimon George under the banner of Bhavalaya, the 37-minute film explores the emotional burden of drug abuse, particularly on mothers who often suffer in silence. Oman-based actors Anita Rajan and Somasundaram play the lead roles, supported by Kiran Hariprasad, Ashok Kumar, Ryan George and Vishruth. The film also features students from Thalassery Brennan HSS in Kerala. Dr J Ratnakumar, founder of Bhavalaya and Global Chairman of World Malayalee Federation, said, 'As an organisation active in Oman for over a decade, our efforts have always aimed to bring people together through art, literature and film.' The film's cinematography, editing and makeup are credited to Vishnu Venugopal, Jaffer PC and Azra Aleem respectively.
News18
26-07-2025
- General
- News18
Wayanad Man Lost 11 Family Members In Landslide. Now, He Runs A Restaurant Named ‘July 30'
Kalathingal Noufal lost 11 family members in the Wayanad landslides on July 30, 2024. A year later, he rebuilt his life, opened a restaurant named 'July 30'. The catastrophic landslides that struck Kerala's Wayanad on July 30, 2024, wiped out 11 members of Kalathingal Noufal's family including his wife and three children. The accident was life-changing for him. Now a year later, his story is one of grit, determination and massive support. Despite suffering such a huge loss, Naufal did not give up. He pulled himself together and decided to rebuild his life. Today, the 43-year-old has found a new partner, started a restaurant — named 'July 30' — and got a new house, reported Indian Express. Naufal was living in Mundakkai, the village in Wayanad that was totally wiped out in the landslides that claimed 298 lives, washed away houses and buildings. Indian Express. He then decided to move his life forward and fulfil the dream of his late wife, Sajna, to settle in Kerala by starting a restaurant. Initially, he was living in a temporary house. He also refused to meet counselors, as he felt that reliving the past every time would only increase his pain. He tried to heal his wounds on his own. During that time, Kerala Nadvathul Mujahideen (KNM), a Muslim socio-religious organisation, gave him a financial aid of Rs 7 lakh. Deciding to carry forward the wife's dream, he started a restaurant-cum-bakery, which he named 'July 30' in memory of the day that upended his life. 'When I named the restaurant 'July 30', many people criticised me. But everyone who goes to the affected areas should recall that day, the tragedy and the loss. That will make people humble and bring them closer to God," he told the news outlet. Later, the Oman-based Kerala Muslim Cultural Center (KMCC) bought land for him and built a new house, the keys of which were handed over to him recently. After this, Naufal also married Safna, making a new beginning. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Muscat Daily
21-07-2025
- Sport
- Muscat Daily
Bosher Sports Center clinches T20 series win in Bangalore comeback victory
Bangalore – In a thrilling display of determination and talent, Bosher Sports Center (BSC) Oman emerged victorious in the inaugural three-match T20 series against host Axi Cricket Academy, one of Bangalore's top cricket institutions. The Oman-based team overcame an early series deficit to claim a 2–1 win in a tightly contested tour that included four additional practice matches. All three T20 matches were streamed live on Axi's official YouTube channel, drawing attention from cricket fans across the region. Trailing 0–1 after the first match, BSC bounced back impressively to win the final game by 48 runs, sealing the series. Batting first, BSC posted a strong total of 165 for 3 in their allotted 20 overs. Standout performances included Kiran Suresh, who scored a composed 59 off 48 balls, Neerad Nikhil with a steady 50 off 42, and Jeevan, who smashed a quick 27 from just 15 balls. Despite a spirited bowling effort from Axi's Hari Krishna (2/28), the hosts could only muster 119 for 6 in their 20 overs. Vidhan Loyalka top-scored for Axi with 31 off 23 balls, while BSC's skipper Aflah and Rohit picked up two wickets each, with Kiran also chipping in with one. Kiran Suresh was awarded Man of the Match for the final and also named Man of the Series for his consistent performance. Aflah Aftab was declared Best Bowler, and Neerad Nikhil received the Best Batter award. BSC Coach Neil Paily expressed pride and gratitude after the win, saying, 'The boys showed great character in bouncing back after losing the first game. This was not just a victory but a valuable learning experience.' He also extended heartfelt thanks to Mr. Sunil Narayan, GM of The Trust Oilfield & Heavy Equipments L.L.C, and Mr. Ignesh Lazar, GM of Al Nuha International Auditors, for their support in making the tour possible.
