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Banking

Navigate the evolving world of Banking with MENews247. From the latest in fintech innovations to regulatory updates in the Middle East, get comprehensive coverage on banking trends, financial services, and economic impacts.

Whether it’s UAE’s digital banking breakthroughs or Saudi Arabia’s financial reforms, stay informed 24/7 with key insights into the banking sector’s future in the region.

Banking

Arada Secures $100 Million Sustainability-Linked Financing From FAB

Photo Credit: WAM Dubai, UAE — Master developer Arada has secured its first sustainability-linked financing facility worth $100 million from First Abu Dhabi Bank, with the agreement backed by Italy’s export credit agency SACE. The five-year Shariah-compliant financing facility will support Arada’s general corporate operations and ongoing development projects across its
Banking News UAE

No more OTPs for UAE banking as lenders roll out new in-app payment approvals by 2026

UAE banks are beginning to phase out traditional one-time passwords sent via SMS or email, replacing them with in-app transaction approvals aimed at improving speed and security. The move comes as financial institutions respond to a rise in phishing attempts, SIM-swap scams and OTP interception, which have made text-based verification increasingly vulnerable. Under the new
Mastercard
Banking Tech

Mastercard unveils new VCN initiative for banks

Arnold Pinto
Aimed at commercial payments players Starting from April 1, 2025, banks utilising Mastercard’s cutting-edge Virtual Card Number (VCN) technology can enable a new programme for platform partners, helping to accelerate the use of embedded virtual card technology within commercial payments. The programme brings significant benefits to banks, platform partners, and corporate
NBF
Banking

NBF partners with iGTB for digital transformation on Microsoft Azure

In boost to Middle East banking sector The National Bank of Fujairah (NBF), a full-service corporate bank in the UAE, has partnered with London-based Intellect Global Transaction Banking (iGTB), a division of Intellect Design Arena. The collaboration aims to enhance NBF’s digital capabilities by deploying Intellect’s eMACH.ai Cloud for Wholesale Banking, marking the first
Sector
Banking Saudi Arabia

Banking sector set to meet in Riyadh

For 5th Annual Future Bank Summit & Awards KSA 2024 The 5th Annual Future Bank Summit & Awards KSA 2024 is poised to unite industry leaders, innovators, and visionaries to delve into the latest banking and financial technology advancements. The summit, scheduled for September 24th and 25th at the InterContinental Hotel in Riyadh, aims to […]
Sberbank
Banking Gitex

Sberbank invites entries for AI Journey Contest 2024

News Editor 2
$90,000 prize offered Sberbank, the largest bank in Russia and a leading global financial institution has opened registration for its highly anticipated AI Journey Contest, an international online competition focused on artificial intelligence (AI). The contest, conducted in collaboration with the AIRI Institute, boasts a prize fund of RUB 8.5 million ($90,000).
Finastra
Banking

Tech Mahindra and Finastra forge strategic alliance

To drive digital transformation for corporate banks Tech Mahindra, a global technology consulting and digital solutions provider based in Maharashtra, India, has signed a strategic partnership with London, UK-headquartered Finastra, a global leader in financial software applications and marketplaces, to transform corporate banking operations through enhanced digital
Neo
Banking

Neo banking can transform the fintech sector

Including significantly lowering operational costs In the wake of a post-pandemic era marked by accelerating digital financial solutions, the potential of neo-banking to revolutionise the banking landscape is exciting and inspiring. Neo-banking, characterised by digital-only operations without physical branches, represents a pivotal shift towards a cashless society driven
Fraudulent
Banking

Fraudulent Bank Transactions May Surge 153% By 2029

Growing From $19 Billion In 2024 Juniper Research has released a startling report indicating a projected 153% increase in the value of fraudulent banking and money transfer transactions over the next five years. Starting from $19 billion in 2024, this forecast highlights a growing global concern for the financial sector. According to the report, fraudsters’ […]
How To Choose The Best Business Bank In UAE
Banking Finance GCC UAE

How To Choose The Best Business Bank In UAE

Getting It Right Is A Game-Changer Choosing the right banking partner in the United Arab Emirates (UAE) is a fundamental decision that can significantly impact financial management and a business’s overall performance. Considered the commercial hub of the Middle East, where entrepreneurship thrives amid innovation and economic growth, the UAE has arguably one of the