Ajman Bank sets New Record Jumping to 117.1 million up by 139% profit before tax (AED 107.4 million net profit)
Ajman Bank has reported an all time high quarterly profit in Q1 2024 of AED 107.4 million. This is on the back of a 7.0% increase in total operating income to AED 400.3 million as compared to AED 374.0 million in corresponding period of 2023, and net operating income of AED 194.8 million. Return on shareholder Equity (annualized) and Return on Asset (annualized) have doubled in Q1 2024 as compared to corresponding period of 2023 – respectively to 15.5% (up by 7.9%) and 1.9% (up by 1.0%).
His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of Ajman Bank, “Our strong financial performance in the first quarter of 2024 is a testament to the success of our transformation agenda committing to our shareholders, investors and clients enhancing our operational excellence. We have made significant progress, which underscores our strong market position. I extend my deepest gratitude to our team, whose dedication and hard work have been integral to our success.”
Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, stated, “We have made significant progress, which underscores our strong market position and the substantial gains in shareholder equity and asset returns. Our first-quarter results are a clear reflection of our transformative journey, which has strategically propelled our expansion and diversified our business profile. We’ve focused on enhancing the continued value to our shareholders and supporting the economic landscape of the UAE. In addition to stringent cost containment and operational efficiencies within a resilient framework, emphasizing digital innovation and customer service excellence. Our rigorous approach to risk management and our commitment to addressing regulatory challenges have been crucial. Moreover, we are enhancing our leadership team with strategic talent to ensure that Ajman Bank is well-equipped to navigate future challenges and opportunities in the market.
The strong results are supported by a healthy balance sheet with Total Assets of AED 23.1 billion and AED 2.8 billion of Equity. Ajman Bank’s Capital adequacy ratio of 16.6% (up by 1.4%) and a Tier 1 Capital adequacy of 15.5% (up by 1.4%) remain well above regulatory requirements. Customer deposits of AED 19.3 billion, an advance to stable resources ratio of 76.3%, and an eligible liquid asset ratio of 21.0%, underline its solid liquidity and along with the capital position provide a strong foundation for continued growth.
This strong financial performance was delivered thanks to continued focus on expanding the customer base, enhancing the credit quality, risk management and focus on recoveries. The bank opened 2195 new accounts, 26% of them opened through digital channels. The bank also launched ‘Ajman Connect’ the new digital application with continued focus on digitizing and streamlining its end to end processes.
In line with it’s commitment toward sustainability, Ajman bank published its first sustainability report. The bank baselined its carbon emission across all operations and locations and which will pave the way for systematic tracking and reduction in the banks carbon footprint going forward.
The bank is confident that the solid foundation on the back of it’s strong Q1 2024 results, the ongoing transformation and the strength of the UAE economy will help it maintain a strong monentum for growth and continued profitability through 2024 and beyond.
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About Ajman Bank
Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.
Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate’s economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike. For more information visit http://www.ajmanbank.ae
Dubai FinTech Summit concludes with over 8,000 visitors from 118 countries
- The 3rd edition of the Dubai FinTech Summit to be held on 7-8 May 2025, under the directives of His Highness Sheikh Maktoum.
- The 2nd edition of Dubai FinTech Summit attracted over 8,000 visitors from 118 countries around the world.
- Over 50 Memorandum of Understandings (MoUs) were signed during the Summit with global financial leaders.
- More than 20 top investment management firms with investments in 12,000 companies participated in the Summit.
· Nik Storonsky, Founder and CEO of Revolut inked expansion plans in the MEASA region, marking a significant step towards fostering financial inclusion through cutting-edge technology.
· State Street Global Advisors’ President and Chief Executive Officer, Yie-Hsin Hung confirmed the reopening of its Dubai offices.
- Dyna.Ai, the Singapore headquartered firm launched operations across Asia, the Middle East, Africa, Europe, North America and Latin America, with offices planned in the UAE, Saudi Arabia, and Nigeria.
Dubai, 8 May 2024: The 2nd edition of Dubai FinTech Summit (DFS) organised by Dubai International Financial Centre (DIFC), under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, concluded with resounding success. The 3rd edition of the Dubai FinTech Summit will be held on 7-8 May 2025, also under the directives of His Highness Sheikh Maktoum.
From government officials and policy makers to start-up founders, the two-day Summit, held at Madinat Jumeirah, brought together an unprecedented gathering of more than 8,000 decision-makers from 118 countries around the world. These included over 300 thought leaders participating in 125 discussions across five stages and over 200 exhibitors showcasing cutting-edge technologies. Over 20 government dignitaries were also in attendance, including the Mayor of Seoul, Central Bank Governors, and Deputy Governors.
His Excellency, Essa Kazim, Governor of DIFC, commented: “The Dubai FinTech Summit is not just a gathering, it is a platform for transformative discussions and collective action. The Dubai FinTech Summit stands as a beacon of impact, progress, and collaboration, creating unprecedented opportunities for growth and innovation. Dubai is at the forefront of shaping the future of finance and will continue to strengthen its position as a leading global hub for FinTech firms.”
Arif Amiri, Chief Executive Officer at DIFC Authority, opened day two of the Summit, followed by two fireside chats with His Excellency Helal Saeed Al Marri, Director General, Department of Economy and Tourism, and Yie-Hsin Hung, President and Chief Executive Officer at State Street Global Advisors.
During his opening remarks, Arif Amiri, Chief Executive Officer at DIFC Authority, said: “Today, we are experiencing an extraordinary period of technological transformation where FinTech defines how we transact, how we save, and how we manage our financial lives. FinTech is also defining how traditional financial services companies operate. In recent years, we have seen FinTech revenues grow globally six-fold. We have also seen growing mainstream acceptance of cryptocurrencies, which is allowing for its market capitalisation to exceed USD 3trn. This year, FinTech is again expected to garner and secure an additional 5 per cent of global financial service revenues. In the next two years, digital payments are expected to increase over 10trn dollars, and by 2030, north of 25 per cent of banking valuations are expected to be driven by FinTech.
Dubai FinTech Summit offers a unique platform to explore the opportunities ahead of us, which is why, at DIFC, our strategy is firmly focused on being at the heart of this FinTech revolution. During our 20 years of operations, we have always embraced innovation. It is part of our X factor. We do not simply talk about it but engage with it; with the talent, with the investors and the regulators to execute it. Our visionary leadership has always enabled Dubai and DIFC to take a leading role in driving the future of finance and innovation. For this reason, we have built the region’s most comprehensive proposition that enables our clients to do and achieve great things in a place that integrates FinTech firmly into its DNA. In a place that attracts talented entrepreneurs, encourages collaboration, and provides global connectivity: a gateway between the east and the west, and a true nexus point for the global markets.”
Over 50 international associations participated in the Summit this year, including Africa FinTech Network, Business France, FinTech Philippines Association, European Blockchain Association, Global FinTech Alliance (GFA), Hong Kong FinTech Industry Association, International Digital Economy Association, Invest Seoul, Luxembourg Institute of Financial Technology (LHOFT), Swiss Finance & Technology Association and Women in Web3 Association, among others.
This year’s Summit saw the participation of over 1,000 investors, including more than 10 top executives from some of the world’s biggest banks, managing over USD 7trn in assets under management (AUM). In addition, over 40 FinTech and blockchain unicorns, with a combined market capitalisation of over USD 400bn were also present.
During the two days, over 30 side events were hosted by local, regional, and international partners of the Summit. Panels on the second day included a deep dive into some of the most pressing topics within the financial technology landscape, ranging from High Interest Rates and Macroeconomic Volatility, Institutional Adoption and Regulatory Clarity – Crypto’s Path Forward, and D33 – A Decade of Economic Transformation, among others.
Dubai FinTech Summit also witnessed the signing of more than 50 Memorandum of Understandings (MoUs) with global financial leaders, as well as several key announcements from attending businesses.
Nik Storonsky, Founder and CEO of Revolut announced expansion plans in the MEASA region, marking a significant step towards fostering financial inclusion through cutting-edge technology. Revolut is a global neobank and financial technology company with headquarters in the UK that offers banking services for retail customers and businesses.
Recognising the potential of operating in the region’s largest financial ecosystem, State Street Global Advisors’ CEO, Yie-Hsin Hung, also announced that the firm is making a welcome return to DIFC. Based on the region’s expanding opportunities, coupled with DIFC’s 20-year track record as a leading hub for finance and growth, DIFC has continued to draw in an extensive list of banks, advisors, high-net-worth individuals, family offices, and sovereign wealth funds seeking exposure to the region’s fast-growth markets within a future-forward regulated environment.
Dyna.Ai, the Singapore-headquartered firm announced the launch of its operations across Asia, the Middle East, Africa, Europe, North America and Latin America, aiming to transform businesses with AI. The company offers a suite of solutions for digital banking, risk management, audience communication, and employee productivity to address current financial challenges. In the MEA region, offices will be opened in the UAE, Saudi Arabia, and Nigeria. Dyna Athena, a newly launched AI platform, will provide revolutionary communication and interaction between customers, which will include features such as text-to-speech, language and speech processing. Dyna Avatar, a brand-new humanoid customer assistant, capable of real-time voice-activated conversations in Arabic, English, Chinese, Japanese and Thai, was also launched at the Summit.
Among several notable presentations, Crypto Oasis provided an insightful update on the UAE’s dynamic and ever-evolving blockchain ecosystem. According to the presentation, active companies have surged by 13 per cent year-on-year, reaching 2,040 organisations, with a healthy mix of 71 per cent native and 29 per cent non-native blockchain companies contributing to the ecosystem. There has also been a marked increase in the industry workforce, with over 10,600 individuals working in the blockchain space. One of the key factors driving the crypto industry has been an increase in regulatory clarity, which has helped to attract global brands such as Bybit, Crypto.com, and OKX, which each received Virtual Asset Service Provider (VASP) licenses from VARA.
In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hubs by 2033, DFS is designed to encourage cross-border collaboration and innovation, central to transforming the global FinTech sector. The Summit presented a unique opportunity for attendees to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
The 2nd edition of the Dubai FinTech Summit was supported by over 150 global corporate partners. Visa as Founding Partner & Co-Host; Emirates NBD as Premium Banking Partner; e& life as Powered By sponsor; Commercial Bank of Dubai (CBD) as Strategic Banking Partner; Finvasia as Lead Sponsor; SC Ventures as Strategic Venture Partner; Dynatech AI as Powered By sponsor; and Mashreq as Diamond Sponsor, among others.
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About Dubai FinTech Summit
Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors and policy makers, signalling increased appetite for growth opportunities in the region.
Dubai FinTech Summit signals new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector. As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2 per cent CAGR to USD949 billion from 2022 to 2030. The Summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033.
The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation.
Visit www.dubaiFinTechsummit.com
#Difc #DifcInnovationHub #DFS2024 #FinTech
For further enquiries, please contact:
Samia Ahmad
Assistant Manager, Marketing at DIFC Innovation Hub
E: samia.ahmad@difc.com
Phone: +971 4 362 2657
Governor State Bank of Pakistan, Mr. Jameel Ahmad, Shares Pakistan’s Economic Success Story at AIM Congress 2024
Governor State Bank of Pakistan, Mr. Jameel Ahmad participated in the roundtable panel discussion of Central Banks Governors and Presidents of Stock Exchange markets of different countries, at Annual Investment Meeting (AIM Congress) 2024 in Abu Dhabi.
He shared Pakistan’s perspective in successfully dealing with macroeconomic challenges and highlighted the efforts made towards stabilizing Pakistan’s economy and building investor’s confidence.
Maktoum bin Mohammed engages with global policy makers and financial industry leaders at the second Dubai FinTech Summit
Meetings explore global cooperation and exchange of expertise in urban financial infrastructure, capital markets and FinTech, and new industry growth opportunities generated by Dubai
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the Dubai International Financial Centre (DIFC), today met with global policymakers and financial industry leaders on the sidelines of the second Dubai FinTech Summit (DFS).
Influential decision makers that HH Sheikh Maktoum engaged with included Adena T Friedman, Chair and CEO of Nasdaq; Oh Se-Hoon, Mayor of Seoul, South Korea; Nic Dreckman, Group CEO of Julius Baer; and Nik Storonsky, Founder and CEO of Revolut.
The two-day Dubai FinTech Summit, organised by DIFC, the leading global financial centre in the MEASA region, opened today, bringing together over 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges and showcase cutting-edge technologies.
His Highness’s engagements focused on various areas including exchange of expertise in FinTech innovation, urban infrastructure development, and new capital market, wealth management and FinTech opportunities emerging as a result of Dubai’s new policies and initiatives.
HH Sheikh Maktoum’s meeting with Adena T Friedman, Chair and CEO of Nasdaq, one of the world’s largest stock exchanges, explored stronger ties between Dubai’s financial ecosystem and Nasdaq.
His Highness highlighted Dubai’s strategic initiatives to enhance the total volume of its stock markets to AED3 trillion and deepen its capital market ecosystem, making it a key destination for investors from across the world. Collaboration with global players like Nasdaq is vital to Dubai’s strategic efforts to advance investment growth and foster technology innovation in financial services, he added.
HH Sheikh Maktoum further said that Dubai’s long-standing partnership with Nasdaq has supported it in forging new pathways for excellence in the financial sector, and raising its status as a leading international financial centre.
Friedman commended Dubai’s progressive approach and expressed Nasdaq’s interest in exploring opportunities for collaboration in areas such as capital market development, and regulatory innovation.
His Highness’s meeting with Oh Se-hoon, Mayor of Seoul, explored avenues of collaboration between Dubai and Seoul, particularly in the areas of urban infrastructure development, technology, and innovation. Sheikh Maktoum emphasised Dubai’s commitment to fostering partnerships with leading global cities like Seoul, with the aim of exchanging expertise and best practices to drive sustainable growth and prosperity. He noted that both cities share many complementarities in their development journeys and the growth of their financial industries, which can be tapped to advance mutual growth.
Mayor Oh Se-hoon expressed his appreciation for Dubai’s leadership in various sectors and expressed keen interest in sharing experiences in the FinTech sector, to support the sustained development of their economies.
HH Sheikh Maktoum also met with Nic Dreckmann, Group CEO of Julius Baer, a leading global player in the private banking industry, and Nikolay Storonsky, Founder and CEO of Revolut, an international neobank and financial technology company.
His Highness expressed Dubai’s commitment to creating a conducive environment for wealth management, investment and financial technology excellence, highlighting the city’s strategic initiatives to attract high-net-worth individuals, family offices and innovative FinTech companies. Dreckmann and Storonsky commended Dubai’s exceptional growth over the last decade as a global financial hub and expressed their companies’ interest in expanding their presence in the region, and leveraging Dubai’s advanced infrastructure and investor-friendly policies to serve their clients effectively.
With a presence in over 60 locations worldwide, including the Dubai International Financial Centre, Julius Baer is one of the globe’s leading providers of wealth management solutions. With assets under management worth CHF427 billion at the end of 2023, Julius Baer is the world’s largest pure-play private bank.
Revolut is a global neobank and financial technology company that offers banking services for retail customers and businesses. The company serves 40 million personal customers and 500,000 business customers in over 150 countries and regions.
In line with the goal of the Dubai Economic Agenda D33 to establish Dubai as one of the world’s top four global financial hubs by 2033, the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, which are pivotal to transforming the global FinTech sector. The event presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
The meetings were attended by His Excellency Essa Kazim, Governor of DIFC; Arif Amiri, CEO of DIFC Authority; and Mohammad Alblooshi, CEO of DIFC Innovation Hub.
H.H. Sheikh Maktoum bin Mohammed opens second edition of Dubai FinTech Summit
Summit brings together more than 8,000 industry leaders from over 100 countries to discuss the future of FinTech and unlock new opportunities
Second edition of the Dubai FinTech Summit highlights the ongoing transformation of the technology-led financial sector
His Highness: Dubai provides a unique environment for FinTech companies to leverage new growth opportunities in this rapidly growing sector
“We have created a dynamic ecosystem for the FinTech industry to thrive, in line with the goal of the Dubai Economic Agenda D33 to establish the emirate as one of the top four financial centres worldwide”
Essa Kazim: DIFC’s unprecedented growth over the last 20 years consolidates Dubai’s status as the MEASA region’s foremost contributor to the global financial services industry
Arif Amiri: The summit not only highlights Dubai’s central role in the global financial ecosystem but also demonstrates our position as a catalyst for economic growth and technological advancement in the MEASA region and beyond
Government of Dubai Media Office – 06 May 2024: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance of the UAE and President of DIFC, today opened the second edition of the Dubai FinTech Summit, which is being held at Madinat Jumeirah, Dubai under the theme ‘Pioneering FinTech’s Future’.
Organised by the Dubai International Financial Centre (DIFC), the leading global Financial Centre in the Middle East, Africa and South Asia (MEASA) region, this year’s Dubai FinTech Summit brings together more than 8,000 industry leaders from over 100 countries.
Commenting on the occasion, HH Sheikh Maktoum bin Mohammed said: “Dubai today has the ideal infrastructure and legislation to become the world’s global FinTech hub. The city provides a unique environment for FinTech companies to leverage new growth opportunities in this rapidly growing sector. We have created a dynamic ecosystem for the FinTech industry to thrive, in line with the goal of the Dubai Economic Agenda D33 to establish the emirate as one of the top four financial centres worldwide.”
His Highness added that the second edition of the Dubai FinTech Summit highlights the ongoing transformation of the technology-led financial sector, and the urgent need to focus on innovation, financial inclusion, and the impact of sustainability as a way of life. “Through collaboration and partnerships between banks, financial technology companies, and financial services application platforms, Dubai is poised to lead the future of this dynamic sector. By focusing on customer and investor-centric financial and banking services, this will pave the way for significant advancements in the future,” Sheikh Maktoum said.
His Highness added: “The summit will foster rich discussions on the evolving landscape of finance, driven by the transformative forces of artificial intelligence, digital currencies, and innovative technology. Together with industry leaders, we look forward to exploring the positive impact and opportunities inherent in the use of artificial intelligence in financial services, the growing world of digital currencies and blockchain technology. With its progressive policies, innovative regulations and advanced infrastructure, there is no limit to what Dubai can accomplish in the sector.”
During his visit, His Highness Sheikh Maktoum attended the opening session of the summit and met with several global leaders in tech, finance and regulatory reform.
His Excellency Essa Kazim, Governor at DIFC, said: “DIFC has become a major engine of growth for Dubai’s economy and a significant contributor to its GDP. Its accelerated growth trajectory is perfectly aligned with the goals of the Dubai Economic Agenda, D33 to double the size of Dubai’s economy over the next decade and reinforce its status as one of the world’s top three cities for business and investment. DIFC’s unprecedented growth over the last 20 years consolidates Dubai’s status as the MEASA region’s foremost contributor to the global financial services industry.”
He added, “Through strategic initiatives, we seek to provide a dynamic environment for innovation and enterprise to flourish. Dubai and DIFC have invested heavily in its FinTech ecosystem by creating a supportive and agile regulatory framework, and by providing access to funding, sand-box environments and state-of-the-art infrastructure for start-ups and established companies alike. The Dubai FinTech Summit also presents a unique opportunity for collaboration between traditional financial institutions and FinTech firms, especially with rapid AI advancements driving innovation within the sector.”
The Dubai FinTech Summit offers the perfect platform for start-ups, investors and industry leaders to connect and capitalise on the growing FinTech market in the region and beyond. The MENA region’s FinTech start-up and venture capital landscape is booming, with over 800 FinTech start-ups worth $15.5 billion, according to data by dealroom.co.
Arif Amiri, Chief Executive Officer at DIFC Authority, said: “DIFC offers a thriving business environment where technology meets opportunity, enabling FinTech companies to excel and expand on a global scale. By fostering robust partnerships and facilitating cross-border collaboration, we are setting new standards for financial excellence. The Dubai FinTech Summit exemplifies this commitment by bringing together industry leaders, innovators, and policymakers from around the world to discuss the future of finance. The platform not only highlights Dubai’s central role in the global financial ecosystem but also demonstrates our position as a catalyst for economic growth and technological advancement in the MEASA region and beyond.”
Investments in FinTech, projected to grow by 17.2% CAGR to $949 billion from 2022 to 2030, are further accelerating the ongoing pace of FinTech innovation globally and in Dubai, which offers access to high-growth emerging markets in the Middle East and North Africa (MENA), Western Europe, Asia and Africa.
The second edition of the Dubai FinTech Summit is taking place at an unprecedented scale for an event focused purely on FinTech. In line with D33 to position Dubai as the top four global financial hub by 2033, the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
With a strong line-up of distinguished local and international speakers in attendance during the two-day summit, the Dubai FinTech Summit promises engaging and thought-provoking panel discussions and fireside chats. Delegates will access key insights from His Excellency Abdulla bin Touq Al Marri, UAE Minister of Economy; His Excellency Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund; His Excellency Helal Saeed Al Marri, Director General of Dubai Department of Economy and Tourism; and His Excellency Faisal Belhoul, Vice Chairman of the Dubai Chamber and Chairman of J&F Holding.
Adena T. Friedman, Chair and Chief Executive Officer of Nasdaq; Nic Dreckmann, Chief Executive Officer of Bank Julius Baer; Yie-Hsin Hung, President and Chief Executive Officer of State Street Global Advisors; along with many other global industry leaders will also bring their perspectives on the future of FinTech.
Day one of the Dubai FinTech Summit saw insightful debates on the topics of ‘Regulation and Policymaking’; ‘Crypto Payments’; ‘Embedded and Open Finance’; ‘AI and the Future of Finance’; ‘VC, Entrepreneurship and Beyond’; ‘Corporate Finance’; ‘Financial Inclusion and Consumer Protection’; and more.
Day two promises equally vibrant discussions with opening remarks by Arif Amiri, Chief Executive Officer of DIFC Authority, followed by high profile fireside chats with global industry leaders including sessions on ‘High Interest Rates and Macroeconomic Volatility’; ‘Institutional Adoption and Regulatory Clarity – Crypto’s Path Forward’; ‘D33- A Decade of Economic Transformation’ and more. View the full agenda here.
The second edition of the Dubai FinTech Summit is supported by over 150 global corporate partners, with Visa as founding partner and co-host; Emirates NBD as founding partner and premium banking sponsor; e& as founding partner and ‘powered by’ sponsor; and Commercial Bank of Dubai as founding partner and strategic banking sponsor.
Takaful Bazaar to Showcase World’s First Embedded Takaful Platform at DIFC Fintech Summit 2024
Dubai, UAE – Takaful Bazaar, a pioneering InsurTech startup based in the UAE, is excited to announce its participation in the prestigious Dubai International Financial Centre (DIFC) Fintech Summit 2024. As the world’s first provider of an embedded Takaful platform, Takaful Bazaar will demonstrate its groundbreaking solutions, initially launched as a successful proof of concept in Pakistan.
Since its inception, Takaful Bazaar has committed to providing innovative and ethical financial products tailored for the Middle East, North Africa and Pakistan (MENAP) region. The company’s participation at the summit underscores its dedication to revolutionizing the Takaful landscape with technology-driven solutions.
Mustafa R. Muhammadi, CEO of Takaful Bazaar, remarked, “The MENAP region harbors vast untapped potential increasingly recognized by the global financial community. We are excited to spearhead this exploration through our embedded Takaful platform. This initiative not only streamlines but also enhances the distribution and consumption of Takaful products. Our presence at the DIFC Fintech Summit reaffirms our vision and commitment to innovating InsurTech in this dynamic region.”
Takaful Bazaar’s embedded platform allows partners, including car dealerships, healthcare providers, travel booking platforms, to seamlessly integrate Takaful offerings into their sales processes. This integration provides customers with immediate, seamless, and compliant coverage options, setting a new industry standard.
The summit organized by DIFC provides Takaful Bazaar with a prime opportunity to display its technological innovations and to engage with industry leaders, potential investors, and partners from around the world.
For more information, please visit www.takafulbazaar.com
About Takaful Bazaar
Takaful Bazaar is a UAE-based InsurTech startup committed to delivering innovative and ethical Takaful solutions across the MENAP region. With its launch of the world’s first embedded Takaful platform, the company is transforming how Takaful products are offered, making them more accessible, convenient, and integrated into everyday transactions.
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