Middle EastRSS

El Taamir goes live on Intellect lending suite

Intellect Design Arena

Egypt-based El Taamir Mortgage Finance Company has gone live on Intellect Design Arena’s lending suite. Intellect says the implementation was completed in seven months including data migration. The suite equips El Taamir with automation of regulatory reports for the central bank as per Egyptian mortgage laws and generation of receipts for cash payments. Hassan Hussein, […]

Nasdaq revamps Borse Dubai market tech

021317_borsedubai

Nasdaq and Borse Dubai have signed a new infrastructure agreement for Dubai’s stock exchanges, Dubai Financial Market (DFM) and Nasdaq Dubai, to improve post-trade practices. Under the agreement with Borse Dubai, the parent company of DFM, Nasdaq will deliver a new INET-powered, multi-asset trading technology engine (Nasdaq matching engine), a cash equities clearing module (Nasdaq […]

Japan seeks stronger ties to Iran’s central bank

japan

Japan’s Financial Services Agency (FSA) is looking to work closer on banking supervision with the Central Bank of the Islamic Republic of Iran (CBI). The pair have exchanged letters on co-operation and the plan is to examine the performance of their respective duties for the “safe and sound functioning” of banking organisations in their countries. […]

IBM unveils Dubai blockchain deal

IBM working with Standard Life and ING Direct Australia

IBM has launched a blockchain initiative for trade finance with telecom operator du, Dubai Customs, Dubai Trade, Emirates NBD and Banco Santander. The plan is to explore the use of logistics solutions for the import and re-export process of goods in and out of Dubai. Using Hyperledger Fabric and IBM Cloud, their blockchain solution transmits […]

Emirates NBD steps up digital banking game with Cockpit Application launch

Emirates NBD digitises branches

Emirates NBD has launched Cockpit Application, an intelligent new CRM solution for branches. The bank has also introduced biometric digital signatures and straight-through processing (STP) of digital forms.

Isbank launches first P2P money transfer service in Turkey

isbank

Turkey’s largest bank Isbank has launched a new P2P money transfer service, called “social account”, available for the “first time” in the republic. The launch quickly follows on from the release of its new app, IsCep, to allow “for the first time” banking and stock exchange transactions through one application with real-time data. With the […]

Dubai ponders regulatory framework for loan-based crowdfunding platforms

DIFC

The Dubai Financial Services Authority (DFSA) has issued a consultation paper, “Crowdfunding: SME Financing Through Lending”. The paper proposes a regulatory framework for anyone looking to operate a loan-based crowdfunding platform in the Dubai International Financial Centre (DIFC).

NBAD first Middle East bank to go live on Ripple’s blockchain

Ripple logo

The National Bank of Abu Dhabi (NBAD) is the first Middle East bank to introduce real-time cross-border payments on Ripple’s blockchain network. Ripple says its tech fits within NBAD’s existing infrastructure and offers an end-to-end payment flow providing “transaction immutability and payment integrity”. Vineet Varma, managing director and head of global transaction banking, NBAD, says […]

Qatar International Islamic Bank recommits to Misys

Doha, home of QIIB

Qatar International Islamic Bank (QIIB), a long-standing customer of Misys, is implementing the new version of the vendor’s core system for Islamic banks, FusionBanking Essence Islamic, front-to-back office.

Dubai gets first fintech accelerator

Dubai International Financial Centre

FinTech Hive, to be housed at the Dubai International Financial Centre (DIFC) in Dubai’s Central Business District (CBD), is set to launch this quarter. Accenture runs fintech innovation labs in New York, London, and Hong Kong; and has been tasked with setting up and operating the accelerator. Aimed at providing better financial services technology to […]

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