AFTERNOON TEA OF THE YEAR 2018 WINNERS LAUNCH FESTIVE OFFERING IN TIME FOR WINTER
Startupbootcamp Launches First Fintech Accelerator in Dubai
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Todd OBrien, CEO of MENA, Startupbootcamp, said: “We are extremely excited to begin this journey that will see some of the best financial innovations from around the world come to enrich the financial ecosystem in Dubai and the region.” Raja Al Mazrouei, Executive Vice President – FinTech Hive at DIFC, said:“Building on the success of our existing accelerator programmes that target growth-stage FinTech companies, we are excited to partner with Startupbootcamp on this latest initiative that provides a growth platform for early-stage startups. The partnership will contribute significantly to developing the regional FinTech and Venture Capital ecosystem, and promoting entrepreneurship in line with the UAE 2021 Vision.” Shahebaz Khan, Visa’s General Manager for the UAE and Innovation Lead for MENA, commented: “The future of digital payments will be shaped through collaboration and we look forward to working with our startup partners to transform the payments landscape and support economic modernization efforts to the benefit of consumers, merchants and banks alike. We are proud to partner on the FinTech startup accelerator program to help foster an entrepreneurial ecosystem where innovators from across the region can thrive and to enable a smart economy powered by secure, innovative digital payment solutions.” HSBC’s CIO of Middle East, North Africa and Turkey, Ghinwa Baradhi, commented, “HSBC UAE is pleased to tie-up with Startupbootcamp to foster innovation and entrepreneurship through mentoring of young technology companies. We look forward to helping FinTech startups shape their products at scale and expand their markets, while providing more established entrepreneurs with strategic guidance on market opportunities and trends. Our aim is to explore options for collaboration to build innovative solutions which shape a better future for our customers and colleagues.” More information about the Startupbootcamp FinTech Dubai program can be found at www.startupbootcamp.org/accelerator/fintech-dubai/ Applications for the program are now open. APPLY NOWEmaar launches limited release of Expo Golf Villas
Emirates Spreads its Wings with A380 Operations to ‘Sister Cities’ Hamburg and Osaka
Etihad Airways celebrates 15 years of successful flying
- Etihad one of the youngest and most innovative global airline brands
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Celebrate the UAE National Day with ‘Emirati Night’ at Da Vinci’s, Millennium Airport Hotel Dubai
- Day & Date: Every Friday, 9th November to 7th December 2018
- Time: From 8pm to 11.30pm
- Venue: Da Vinci’s
- Chef’s Special Menu: Exclusive 25% discount on total bill valid for up to 4 guests
- Complimentary slice of cake with UAE flag decoration
Deck Up Your Homes for the Festive Season with 2XL Furniture & Home Décor






CFO Strategies Forum MENA Puts the Spotlight on Prioritizing Financial Innovation and Digitalisation
- Chris Fernandez, Founder and CEO, blockgemini
- Werner Flaig, Group Chief Financial Officer, Easa Saleh Al Gurg
- Ankur Shah, CFO, Careem
- Massimiliano Leopardi: CFO, Sadara
- Tariq Sanad: CFO, Fetchr!
- Kartik Thakrar, Finance Head – GCC, Aster
Fintech Summit by Naseba Highlights the Massive Opportunities Driving Fintech’s Growth in MENA Region as Investment in Sector Continues to Soar
Fintech Summit, organised by leading regional deal facilitation company Naseba, brought together the Middle East and Africa region’s most prominent Banking, Financial Services and Insurance (BFSI) institutions, technology providers and funders to share the latest trends and disruptive developments transforming the industry. Innovations in the field of RegTech, blockchain, robotics, AI and digital-only banking are fuelling fintech’s rapid growth in the region.
The panelists from different verticals of the financial services sphere, exchanged their views on fintech’s power to disrupt the financial sector across the MENA region with innovative solutions. Digitalisation of financial services is still the greatest opportunity for fintech with banks being the largest investors. Changes in customer preferences and technological advances have pushed large banks to take a lead in digitalisation in the region followed by Islamic finance. A great example is Emirates NBD that increased its investments in digitalization to 1billion over the last three years.
Urging to unleash the potential of fintech wide across the banking and financial services industry, Naseba’s Production Director Naveen Bharadwaj said: “To evolve with customers’ preferred trends, stay ahead of competition and achieve a cashless economy, all major banks and financial institutions are placing huge strategic bets on blockchain, robotics, artificial intelligence and predictive analytics under the umbrella of Fintech. Naseba is very proud to continue helping the region’s fintech transformation and bridge the ecosystem through our Enterprise Fintech Summit.”
Max Liu, Co-founder and CEO of EMQ said, “The whole payments ecosystem is undergoing significant transformation with the rise of local and cross-border cashless payments underpinned by a tech-savvy population. For this reason, enterprises will increasingly require a settlement network that streamlines cross-border payments that are low-cost, secure, and real-time.”
Quoting on the regional BFSI ecosystem, Emre Karter, MD Treasury and Trade Solution at Citibank, said, “To stay relevant to clients, major banks are enhancing payments, liquidity management, and lending, through deployment of new technologies like AI, machine learning, Blockchain and better usage of big data. The most successful banks will be those that improve agility and reduce costs by using collaboration to bring various components together and build the strongest ecosystem.”
With a significant amount of capital waiting to be deployed, investment in finech is expected to remain strong. According to industry forecasts, the Middle East and North Africa region’s financial technology market is predicted to grow by 270 per cent achieving a growth of approximately $125 million a year to reach $2.5 billion in 2022. The Mena fintech market is currently worth $2bn but increased annual investment will boost the number of fintech start-ups from six in 2005 to around 250 by 2020. The market’s largest segment is Digital Payments with a total transaction value of US$41,447m in 2018. Total transaction value is expected to show an annual growth rate (CAGR 2018-2022) of 12.8% resulting in the total amount of US$67,004m by 2022.
Four countries account for almost 75 per cent of all start-ups in the MENA region – the UAE, Lebanon, Jordan and Egypt. The UAE is the centre of the new frontier with a combination of accelerators, rising investments and cross-industry partnerships. High smartphone penetration, young and tech-savvy people and the government’s support are all turning the region into an attractive hub for fintech. Alongside that, initiatives like Dubai International Financial Centre’s (DIFC) FinTech Hive, whose start-ups raised over $10 million in funding in 2017, are significantly disrupting the fintech ecosystem in the region.
Key speakers at the Fintech Summit included Nasir Zubairi, CEO, Luxemburg House Of Financial Technology; Peter Smith, Managing Director, Policy and Strategy, Dubai Financial Services Authority; Nick Lee, Authorisation Director, BFSI, Abu Dhabi Global Markets; Abdul Malik Al Sheikh, Senior Advisor, Saudi Arabian Monetary Authority; Max Liu, Co-Founder & CEO, EMQ.
About Naseba Naseba creates growth opportunities, connecting people, partners and ideas. Focused on deal facilitation, it helps clients: raise capital, close sales, enter new markets, secure partners and educate workforces. Naseba’s goal is to create opportunity and add economic value at every stage of its client’s journey. It does this through three key areas: investor services, commercial services and leadership services.
Since 2002, Naseba has facilitated more than a billion dollars’ worth of deals and has connected over 100,000 global executives through more than 1,000 proprietary business platforms in liquid growth markets.
Naseba is a signatory of the Women’s Empowerment Principles – Equality Means Business, produced and disseminated by the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) and the United Nations Global Compact.
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