Latest news with #financialInclusion
Zawya
a day ago
- Business
- Zawya
'Nawy Shares' leads the transformation towards regulating fractional real estate investment in Egypt
In light of the recent statement issued by the Financial Regulatory Authority (FRA) regarding the initiation of concrete steps by several digital platforms specializing in fractional real estate investment to establish investment funds and obtain the necessary licenses for underwriting and promotion activities, Nawy Shares proudly affirms its position as the first entity to champion this regulatory path forward under the leadership and supervision of the FRA. Nawy Shares is the fractional investment arm of Nawy, Egypt's leading real estate platform. It was launched to provide flexible and secure investment opportunities in the real estate market, enabling individuals to own shares in real estate units thus promoting financial inclusion and expanding access to real estate investment. Nawy Shares extends its sincere appreciation to the Financial Regulatory Authority for its pioneering efforts in regulating Egypt's non-banking financial sector, its commitment to protecting investors, and its dedication to reinforcing principles of transparency and trust in this vital industry. For over a year and a half, Nawy Shares has worked closely with the FRA's technical and legal departments to understand the legislative and regulatory requirements needed to formalize its business model. We commend the Authority's diligent work in establishing a clear and robust regulatory framework for fractional real estate investment models one that ensures investor protection and long-term sector growth. The Authority's announcement today marks a significant milestone and a culmination of collaborative efforts, laying the groundwork for a promising and well-regulated investment sector. In its official statement, the FRA noted: 'The positive response from the applying companies reflects a growing awareness of the importance of adhering to legal frameworks and a clear desire to operate under an organized regulatory umbrella that safeguards all parties and contributes to market stability.' Nawy Shares considers this recognition from the Authority a testament to its unwavering commitment, from day one, to legal compliance and regulatory alignment and to building a reliable, innovative investment model. Ayman Magdy, Managing Director of Nawy Shares, commented: 'At Nawy Shares, we are proud to be at the forefront of this transformation. What began as an idea has now become a tangible, regulated reality. From concept to execution, our vision has always been to empower individuals to invest in real estate in a smart and secure way. We are excited to continue this journey under a clear regulatory framework that protects investors and enhances market confidence.' Nawy Shares is proud to be one of the first platforms to officially submit a request to establish a real estate investment fund and obtain the necessary licenses a move that reflects its deep commitment to operating within a sustainable and legally sound environment. Nawy Shares looks forward to continue collaboration with the Financial Regulatory Authority and all stakeholders to grow and support this innovative investment model, offering secure, accessible, and forward-looking opportunities tailored to the needs of Egyptian investors.
Finextra
2 days ago
- Business
- Finextra
AllPay launches Dosh prepaid card in the UK
Dosh, a prepaid Mastercard® account backed by allpay Limited and its 30-year public sector heritage, removes common barriers to entry, such as rigid ID and address checks, offering a more inclusive route to financial services for people often left behind by the mainstream, from those new to the UK to individuals in temporary housing. 6 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. In a market entrenched with surprise fees, gimmicks, bureaucracy, and barriers, DOSH arrives as the fintech challenger the unbanked have been waiting for. Backed by allpay's 30-year legacy of powering public sector payments, DOSH is a UK-focused prepaid Mastercard® account that upends banking norms with flexible ID options through its 'Vouch For' onboarding, alongside transparent pricing, financial literacy tools, and real UK-based human support. 'Traditional banks have built walls for the unbanked, DOSH's mission is to build bridges. We've created a fairer way to access financial services, designed for real life, not red tape. Whether you're paid in cash, don't have a standard ID, or just want a clearer way to manage your money, DOSH has been built to give you control, clarity, and confidence as your first step towards financial stability, all backed by allpay's three decades of trusted public service,' says Michelle Pacey, Managing Director of allpay. The Problem? In one of the world's leading economies, nearly one million people still live without access to a bank account. Across the EU, 13 million more are unbanked - relying on cash, costly credit, or informal workarounds just to get by. Without access to basic financial services, everyday tasks like paying rent, receiving wages, or building credit become significantly harder, deepening financial vulnerability. The unbanked in the UK are often among the most vulnerable, these include people experiencing homelessness, recent migrants, those in low-paid or unstable work, and individuals who lack the forms of ID or proof of address that traditional banks demand. For these individuals, being unbanked isn't just an inconvenience; it's a barrier to everyday life. It means struggling to receive wages or benefits, pay bills securely, or participate in the digital economy. This gap in access deepens inequality and leaves many stuck in cycles of poverty, excluded from the tools that help others build resilience and move forward. The DOSH Solution DOSH exists to challenge this norm, created not just as an alternative to mainstream banking but as a response to the systemic issues that keep people locked out of it. Designed to break down the real-world barriers that keep people unbanked. With flexible ID options, including the ability to be vouched for, and a fast, paperless sign-up process, it removes the red tape that often blocks access. Clear, jargon-free fees and instant transaction alerts build trust and financial confidence, while nationwide Post Office access will ensure cash-in and cash-out remain easy. Most importantly, DOSH puts its customers in control, from budgeting tools to real human support, it is a genuine first step towards financial inclusion and independence. Why It Matters Without access to a basic bank account, millions end up paying late-payment fees, falling into arrears, or resorting to high-cost credit. DOSH helps you build reliable payment habits and a strong money history, turning day-to-day stress into confident, future-focused planning. 'DOSH isn't just a product, it's a mission,' says Tony Killeen, allpay's Founder and Entrepreneur. 'It's the result of everything we've learned in 30 years of serving the public sector. We're building a platform that gives the most vulnerable dignity, access, and a path toward financial stability.' Availability & Next Steps DOSH launches across the UK later this year, with early-access and beta registration open now
Entrepreneur
2 days ago
- Business
- Entrepreneur
Saudi Arabia's First Ever Tokenized Real Estate Transaction Set for Launch by droppRWA and RAFAL Real Estate
The transaction is a strategic inflection point as the RAFAL pilot will serve as a national feasibility benchmark for the future of tokenized property markets both in and beyond Saudi Arabia. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. droppRWA, a sister company of Web3 technology provider DroppGroup,has partnered with Saudi Arabia's real estate developer RAFAL Real Estate Co, to execute the kingdom's first-ever real world asset (RWA) tokenization transaction. The transaction is a strategic inflection point as the RAFAL pilot will serve as a national feasibility benchmark for the future of tokenized property markets both in and beyond Saudi Arabia. The collaboration aims to introduce fractional ownership of high-value real estate assets, enabling everyday Saudi citizens to invest with amounts starting as low as single-digit Riyals. This democratized access model aligns directly with Vision 2030's goals of financial inclusion, digital transformation and citizen empowerment. This initiative is also designed to attract institutional-grade foreign capital through compliant digital technology rails. droppRWA will conduct a full feasibility study for property tokenization across RAFAL's portfolio. A fully regulated proof-of-concept will be developed and executed, with RAFAL supplying live real estate assets for controlled transaction testing. Faisal Al Monai, a droppRWA co-founder, "This transaction marks a paradigm shift. Around the world, we are witnessing the greatest digital transformation of the 21st century - the transformation of capital itself. The mission of this partnership positions Saudi Arabia at the forefront of programmable economies, with real-world impact for every citizen - starting at just 1 Riyal,you can "own a piece of Vision 2030." "And for institutional and global capital, this will be a fully regulated pilot that provides a secure on-ramp for institutional-grade Foreign Direct Investments (FDI) into Saudi Arabia. It merges stablecoin liquidity with sovereign-grade infrastructure, bringing real-world assets onto the blockchain with trust, speed and scale." Source: droppRWA Elias Abousamra, CEO, RAFAL Real Estate, "At RAFAL, we have always believed that real estate should be both aspirational and accessible. This partnership with droppRWA is not just about technology - it's about democratizing real estate investment and creating a global platform for foreign direct investment into the promising Saudi market. For the first time, a young Saudi can own a piece of a premium development with just a few Riyals. That's a powerful idea. Together with our partners, we are proud to pioneer a new model of ownership that speaks to the inclusive and innovative spirit of Vision 2030.
Malay Mail
20-05-2025
- Business
- Malay Mail
XTransfer Named Among The Top 100 Cross-Border Payments Companies for 2025 by FXC Intelligence
XTransfer Named Among The Top 100 Cross-Border Payments Companies for 2025 by FXC Intelligence HONG KONG SAR - Media OutReach Newswire - 20 May 2025 -has been named for the first time to'slist for 2025. XTransfer's debut on this prestigious list places it among a select group of companies at the forefront of innovation, inclusion, and global financial Intelligence, a leading data and intelligence provider for the cross-border payments industry, annually recognises the most influential companies in money transfers, payment processing, e-commerce, and B2B payments. This acknowledgement highlights XTransfer's increasing significance in the global payments ecosystem and emphasises its commitment to empowering companies involved in cross-border trade through innovative financial in 2017, XTransfer has rapidly emerged as a key player addressing the unique challenges SMEs face in cross-border transactions. With a strong focus on the Asia-to-global and global-to-Asia trade corridors, the company now serves over 600,000 enterprises in more than 200 markets, processing more than $10 billion in monthly transactions."Being recognised by FXC Intelligence in this prestigious list is a tremendous honour and a testament to the trust our customers place in us," said. "We remain committed to removing barriers for SMEs in cross-border trade by offering efficient, secure, and affordable international payment solutions."XTransfer's inclusion reflects its exciting global expansion over the past year. It has secured payment licenses in key U.S. states and Singapore, and has experienced significant traction in emerging markets. In Q1 2025, nearly 70% of XTransfer's platform customers were exporting to Asia, Africa, or Latin America, highlighting the platform's growing relevance in underserved innovations include the launch of the global mobile app and the rollout of its Local Currency Account, designed to simplify payments in emerging markets. Additionally, XTransfer has deepened its global reach through strategic partnerships with financial institutions such as Ecobank, Deutsche Bank, Terrapay and Banking #XTransfer #SMEs #FXC #Top100 #Crossborder #Payment The issuer is solely responsible for the content of this announcement.
Zawya
15-05-2025
- Business
- Zawya
Cross Switch Bolsters African Footprint with Strategic Partnership with Pesawise, Kenya
Cross Switch ( a provider of class-leading payment solutions, has strengthened its African presence by officially launching services in Kenya and partnering with licensed local payment provider Pesawise. This collaboration makes the most of Pesawise's solid regulatory standing and trusted reputation, allowing Cross Switch to establish it's footprint and, together with Pesawise, immediately deliver robust payment solutions to businesses, merchants, and charitable organizations throughout Kenya. Cross Switch brings to the partnership a highly scalable global payments infrastructure, allowing merchants simple and frictionless acceptance across multiple payment channels, including Visa, Mastercard, AmEx, mobile money and bank platforms. Through Cross Switch's unified platform, businesses can now take advantage of simplified payment processing, significantly reduced costs, and faster transaction settlements. The Cross Switch solution is tailored to support businesses of every shape and size, driving financial inclusion while at the same time empowering social impact organisations. Numerous merchants across multiple sectors, including hospitality, e-commerce and delivery services and crypto (in approved markets) are already using Cross Switch's innovative solutions on the African Continent and across Latin America. The confidence the Kenyan market has already shown in Cross Switch has already shown immediate effect in Kenya with the with Pesawise partnership. Cross Switch has a powerful track record of success, and it relies on Pesawise, a nimble locally licensed payment provider with a young and dynamic management team, to contribute meaningfully to Cross Switch's growth ambitions and customer-focused philosophy. Cross Switch's CEO, Tim Davis, remarked 'During the establishment phase of this partnership it is refreshing to see a shared common set of values with Pesawise, to provide our customers with best-in-class service levels and straightforward solutions. And a common mission to democratize technology and drive social impact across Africa. With their exceptional team and proven ability to provide relevant value-added services, we believe Pesawise will excel in the fast-moving fintech space.' Pesawise, a fully regulated and authorised Payment Service Provider, is in good standing with the Central Bank of Kenya, ensuring rigorous compliance and secure handling of merchant funds in trusted Tier-1 banks. Jamal Khan, Pesawise's CEO said, 'We're thrilled to take this next step in our journey with Cross Switch as our technology partner. Their deep knowledge and robust technology solutions will enable us to provide innovative solutions tailored to the needs of emerging markets. Together, we aim to strengthen the digital payments ecosystem in Kenya. We've already secured key wins together—including supporting merchants like Glovo Kenya—through a combination of Cross Switch's expertise and our dedicated local team.' As it has done in all markets, Cross Switch is committed to delivering advanced payment solutions backed by exceptional fraud prevention, risk management, and efficient reconciliation capabilities, further strengthening its value proposition in an evolving financial landscape. Businesses interested in simplifying their payment processes are invited to connect directly at to discover how Cross Switch's tailored solutions can drive their growth and operational efficiency. Distributed by APO Group on behalf of Cross Switch. Contact: South Africa: (+27) 21 205 5818 Luxembourg: (+352) 2088 1454 About Cross Switch: Cross Switch is a payments technology company founded in 2022, operating across emerging markets, with active operations in South Africa, Morocco, Ivory Coast and across Latin America. It provides flexible, secure and scalable solutions that support both local and cross-border transactions, helping merchants, fintechs and non-profits expand their reach and streamline their operations. Cross Switch is committed to driving financial inclusion and growth through collaboration, robust infrastructure, high service levels and a strong focus on emerging market needs. About Pesawise: Pesawise is a licensed payment service provider headquartered in Kenya. Pesawise offers robust, API and Platform-driven solutions for local collections, payouts, and virtual accounts. Trusted by leading enterprises and SMEs (such as Kuehne + Nagel and SeamlessHR), Pesawise is dedicated to reducing transaction costs, easing reconciliation challenges, and enhancing transparency for merchants, individuals, and digital ecosystems. Through deep market expertise, reliable infrastructure, Pesawise is shaping the future of digital commerce across Kenya.
