A sovereign wealth fund led by Saudi crown prince Mohammed Bin Salman has launched a $24bn investment fund targetting the Middle East tech sector.

The fund, to be managed by the Public Investment Fund (PIF)  is designed to boost the region's burgeoning tech and telecoms industries.

As part of the fund launch, the PIF will establish five separate investment firms in Bahrain, Oman, Sudan, Jordan and Iraq. 

The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities and Exchange Commission (BSEC) to foster an open dialogue and enable the exchange of information between the two authorities to fulfil their respective regulatory mandates.

The MoU was signed by Ian Johnston,  Chief Executive of the DFSA, and Professor Shibli Rubayat Ul Islam, Chairman of the BSEC on 28 October 2022 in Dubai.

As the financiers of two-thirds of the European economy, banks bear an important responsibility to propose real solutions to mitigate climate change.

fumopay is excited to announce that small businesses can now integrate fumopay directly into Xero, the global small business platform. This means full access to immediate invoice payments for businesses without the need to register a payee or the need to share card or bank details.

Leading financial institutions around the world are continuing to join the Mastercard Digital First™ Card Program enabling entirely digital payment experiences for consumers – from card issuance and usage to financial management and benefits, with an optional physical card.

Provenir, a global leader in AI-powered risk decisioning software, today announced it has entered into a global partnership with Sekura Mobile Intelligence, a global provider of mobile data solutions. This partnership enables Provenir to provide customers access to trusted mobile data, direct from mobile operators through the Provenir Marketplace.

A survey conducted at the Alternative Investment Management Association’s CyberTech Virtual Forum in April revealed the majority of financial services professionals believe that their mental health has improved as firms have adopted a range of flexible working practices. 72% of respondents said flexible working has had a positive impact on the mental health of their teams (17% believe it has had a negative impact and 11% are unsure).

ICS Financial Systems Limited - ICSFS , the global software and services provider for banks and financial institutions, participated at the 3rd Edition of Future Banks Summit - KSA, as a Networking Sponsor. ICSFS shared the latest technological innovations of its ICS BANKS Digital Banking software application.