Blog

In recent months, big brands - like Revolut -  have announced their interest in the Middle East as part of their ongoing global expansion strategy. This comes as no surprise to us. The region has achieved unprecedented growth and is showing no signs of slowing.

We’ve launched local AED VIBANs for our international customers. This blog explains what a VIBAN is, how it works and why this is an exciting update for MENA…

At the intersection between ethics and finance, sits Sharia compliance and Islamic finance. In the Middle East and North Africa (MENA), there is increasing demand for these products. This post discusses the principles, misconceptions and facets of the industry today.

In recent years, the Middle East has become a thriving hub for expats seeking new opportunities and experiences. The region's dynamic job market, low income tax, and cultural diversity attract a significant number of expats from around the globe.

The gig economy stretches across industries to include activities such as ride-sharing, freelance design, coaching and content creation. An estimated 1.57 billion freelancers operate in the global economy. By 2027, the market will be worth $500 billion.

If 2023 is anything to go by, compliance in MENA is moving at pace and 2024 looks to be another big year. Here are our top 4 predictions for some of the major compliance trends in 2024.

Last week, officials representing the GCC states formed a panel hosted by the World Economic Forum to understand the economic outlook for the Gulf in 2024. Here’s what you should know about the GCC from formation to today.

Starting 2024, we’re shifting further East for this post in our How Money Moves series: Pakistan. It has the fifth largest global population and is a significant youth-driven market on the cusp of innovation. Over the past few years, economic challenges have been at the fore.

Steeped in history, a strategic outpost for commerce along trade routes and a strong agricultural exporter: Morocco. It is a kingdom that has a growing youth-driven market and a significant diaspora requiring remittance corridors to send money home.

Historically described as ‘a barrier and a bridge’ between Asia and Europe, this week we focus on how money moves in Turkey. A nuanced and multi-faceted story emerges: Current economic challenges contrast the optimism of buoyant trade partnerships and an emerging payments market. In the past few years, there have been significant developments in the regulatory landscape in line with international standards and changes in the industry.

This small yet ambitious sultanate is at an inflection point in its trajectory. Progressive fiscal and economic reforms have led to a favourable context for opportunity and innovation in Oman. New payment rules and a regulatory sandbox encourages modern Fintechs to explore the market. Read on to learn about how money moves in Oman.

In the last few years, Qatar has made significant progress to issue supportive payment regulations that encourage transformation in the industry. Hosting the recent Fifa World Cup and a post-Covid economic recovery has sparked innovation in the local payment landscape. A cosmopolitan population coupled with the government’s drive to encourage foreign business, has shown Qatar to be an attractive destination for expansion into the region.

We’re launching Payouts in the UAE, to help global businesses to remit payments like a local in the United Arab Emirates.

The Kingdom of Bahrain is at the leading edge of MENA payment regulations and a hub for Fintechs in the region. This archipelago has taken steps to diversify away from an oil reliance and move towards the private sector leading economic activity. We're excited about this growing market as a centre for digital payments in MENA.

Lebanon is the meeting point between East and West and a unique market for payments. The past few years have been challenging with political and financial instability, however the country is moving forward towards a stronger, innovative economy.

At the meeting point of Asia, Africa and Europe, Jordan offers international businesses and payment companies a bridge into the rest of MENA. Its highly urbanised, young population coupled with a significant diaspora around the globe, encourages innovation for local payment. A forward-looking government and Central Bank support, provide a platform for the local fintech community to create world-class payment solutions for Jordan.

Situated on the Northwestern part of the Persian Gulf, we’re exploring all things payments, regulations and demographics in Kuwait (Arabic: دَوْلَةُ الْكُوَيْت ). Its rich history and strategic location speak to the uniqueness of the country. From a payments perspective, it holds many similarities with other MENA nations we’ve detailed in the “How Money Moves” blog series so far.

At the geographical centre of MENA lies Egypt: a dichotomy of traditional, cash-driven transactions and a tech-savvy youth majority encouraging innovation of the country’s payment landscape. This week, we’re outlining its currency dynamics, remittances and payment regulations.

The Kingdom of Saudi Arabia has a clear objective to promote innovation within the country based on its Saudi Vision 2030. With a strong economy and an innovative regulator open for business, Saudi Arabia is one of the most important payment ecosystems to explore as the next focus in our series. You’ll find some crossovers with the UAE picture and some interesting distinctions too.

We’re kicking off our How Money Moves in MENA series by examining the current state of play of payments in the UAE. As the largest international payment center in the Middle East, it's fitting to begin here. Keep reading for an overview on payments schemes, regulations and opportunities for payment companies and Fintechs in the country…

We’re finally talking about Fuse publicly! Fuse is making the Middle East accessible to global financial businesses, and helping local businesses build locally compliant but globally addressable products. MENA is missing a common layer of infrastructure across payments and we’re here to build it.