Clear blue skies for UAE fintech sector
Mawarid Finance convened its highly anticipated Mawarid Fintech & Innovation Summit 2025 in Dubai, drawing an influential mix of fintech pioneers, government regulators, tech innovators and financial industry leaders.
The flagship event, held on April 24, 2025, under the theme “Innovate, Integrate, Inspire: The Future of Embedded Finance,” was set against the backdrop of the UAE’s rapidly evolving digital economy. It underscored the pivotal role that embedded finance and Banking-as-a-Service (BaaS) models will play in shaping the future of the financial services sector.
UAE fintech scene
With the UAE government working to transform the Arabian Gulf country into a digital economy hub, the fintech sector has become a focal point for investment, policy development and innovation. Government-led initiatives and support from regulatory bodies, such as the Dubai International Financial Centre and the Abu Dhabi Global Market, have helped streamline market entry for fintech startups and international players.
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The introduction of regulatory sandboxes, innovation licences and the UAE’s forward-looking Open Finance framework has enabled fintech firms to trial new business models within a secure, controlled environment.
At the same time, the deployment of national digital infrastructure, such as UAE Pass and the UAE Central Bank’s Digital Dirham project, enhances connectivity between government services and fintech platforms, reinforces consumer trust, and paves the way for more integrated financial ecosystems.
This environment offers fertile ground for embedded finance, BaaS models, and API-driven ecosystems, allowing technology companies to integrate financial services and promote inclusive growth effortlessly.
According to Mordor Intelligence, the UAE fintech market is projected to grow from $3.56 billion in 2025 to $6.43 billion in 2030.
Driving fintech innovation
As highlighted at the summit, Mawarid Finance’s strategy is centred on its robust BaaS platform. This technological foundation enables fintech startups to launch and scale financial products quickly while maintaining full regulatory compliance.
Mawarid’s seamless API integrations, regulatory expertise and strong governance framework ensure that partners can focus on user experience and growth while staying firmly within the boundaries of local and international financial laws.
Opening the summit, Rashid Al Qubaisi, CEO of Mawarid Finance, stressed his company’s commitment to driving innovation while upholding its values of transparency and Islamic financial principles.
He noted that fintech is no longer a niche sector but a core component of how modern economies function, particularly in the UAE, where demand for accessible, compliant digital financial products continues to grow.
Al Qubaisi emphasised that, as a fully licensed, Sharia-compliant financial institution, Dubai-based Mawarid Finance is a powerhouse enabler of the UAE’s growing fintech landscape, spearheading discussions on digital finance, compliance, innovation, and sustainable growth.
Keynote speakers and visionary leaders
The event featured a compelling lineup of industry leaders and change-makers. Among the keynote speakers were: Samer Soliman, CEO of Arab Financial Services; Chetan Parekh, Managing Partner and Head of MENA FinTech Practice at Cedar Management Consulting; Mohamed Madkour, Head of CaaS & Segment Commercialisation at Mastercard; Raji Challita, CEO of BML Group; and Mustafa Mohammed, Associate Professor at Al Qasimia University.
Each offered a unique perspective on the direction of fintech in the Arabian Gulf region and emerging markets more broadly.
Expert panels
Panel discussions at the summit addressed some of the sector’s most pressing topics, including compliance and artificial intelligence. In the first panel, “Fintech Compliance & Regulatory Maze,” experts explored how evolving legal requirements affect the time-to-market for startups, especially those operating across borders. The session provided practical advice for navigating licensing complexities, embracing RegTech and maintaining agility in an ever-shifting regulatory landscape.
A second panel, “From Startups to Scaleups,” examined how digital finance firms can maintain momentum as they scale up. Panellists highlighted the importance of robust infrastructure, cross-sector partnerships, and sustainable capital strategies to support scaling up without compromising service or security.
Another widely anticipated session, “Data & AI in Fintech,” focused on how artificial intelligence revolutionises everything from fraud prevention to customer service. Yet, speakers also raised critical concerns about algorithmic fairness, the ethical use of AI, and the implications of big data on user privacy. The consensus was clear: innovation must go hand in hand with transparency and accountability.
In “The Future of Digital Lending” session, panellists discussed emerging credit models, such as Buy Now, Pay Later and peer-to-peer platforms. These innovations expand financial inclusion, particularly for underserved communities, but they also come with new oversight challenges. Discussions centred on how the industry can evolve while ensuring responsible credit delivery.
Innovative products
The summit’s Innovation Pavilion showcased several fintech products powered by Mawarid Finance’s infrastructure.
Among the highlights: Flooss, a Sharia-compliant instant micro-financing app designed for personal finance with integrated security and fast processing; Cashew, a flexible BNPL platform offering customers transparent, instalment-based purchasing solutions under regulated frameworks; Nublo, an AI-powered travel finance app supporting global payments, virtual cards and real-time spend analytics; Dhahaby, a digital gold trading platform enabling secure and compliant investment in precious metals; and Creditit.ai, an innovative embedded finance solution designed to unlock liquidity for SMEs by converting invoices into accessible credit.
These solutions exemplify the UAE’s commitment to supporting real-world fintech applications, prioritising inclusivity, agility and regulatory compliance.
Summit partnerships
Arab Financial Services, Cedar Management Consulting, BML Istisharat, and Falcon Eye Technology were major sponsors and collaborators at the event. These companies share a vision for a secure, streamlined, digitally empowered financial future.
Hero image: “Fintech Compliance & Regulatory Maze – How to Keep Up?” panel discussion at the Mawarid Fintech & Innovation Summit 2025, in Dubai on April 24, 2025. Credit: Arnold Pinto
