Arjun Vir Singh

DIFC Publishes Regional Outlook for Banking and Capital Markets Dubai International Financial Centre (DIFC) has published a ‘Regional Outlook for Banking and Capital Markets’ report in partnership with LSEG Data & Analytics. The report focuses on how regional IPO growth is expected to come in three phases. Firstly, the continued privatisation of state-related entities, followed by listings by family-owned companies, and lastly, FinTech and tech-enabled start-ups. Read More: https://lnkd.in/g3SM9c4s #DIFC #report #bankingmarkets #financialintegrator

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Fils and Arab Financial Services (AFS) Forge Strategic Partnership to Drive Sustainable Digital Transformation in the MENA Region. Read more: https://lnkd.in/di5NQbYC #partnership #fintech #finance #FinancialIT

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🚀 UAE’s financial sector welcomes new Open Finance regulation The Central Bank of UAE (CBUAE) has issued a groundbreaking Open Finance Regulation, setting a new standard for financial innovation and customer-centric services. This comprehensive framework will regulate the licensing, supervision, and operation of Open Finance, ushering in a new era for the financial industry. 🔍 What is Open Finance? Open Finance allows secure data sharing between financial institutions and accredited third-party providers, enabling innovative financial solutions tailored to individual needs. Imagine managing all your bank accounts, investments, and spending through a single app! 💡 Key Benefits: 💠 Innovation & Competition: Fintechs can now collaborate with established players, fostering a dynamic ecosystem that benefits everyone. 💠Customer Empowerment: Customers have control over their data, enhancing transparency and enabling informed financial decisions. 💠Security & Compliance: High security standards and customer consent are at the forefront, ensuring data protection and trust. 🌟 Opportunities Ahead: 💠Financial institutions can leverage new partnerships to develop cutting-edge products and services. 💠A centralised API hub and regulatory sandbox ensure a secure, innovative financial ecosystem. Read more about Open Finance Regulation in the UAE : https://lnkd.in/e6PQxwhu #OpenFinance #Fintech #Innovation #UAEFinance #FinancialRegulation #DataSecurity #DigitalTransformation

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🔴 Saudi Central Bank – SAMA Joins mBridge CBDC Initiative (7th June) ✅ Saudi Central Bank – SAMA has joined Project mBridge, a collaborative initiative led by the Bank for International Settlements (BIS) to improve cross-border payments using central bank digital currencies (CBDCs). ✅ The mBridge project, now at its Minimum Viable Product (MVP) stage, aims to enhance the efficiency and security of international transactions. Founding members include the central banks of Thailand, China, the UAE, and Hong Kong. ✅ The project has developed a governance and legal framework and has conducted real-value transactions using the platform. The HKMA encourages further participation from other central banks and private sector firms to advance cross-border payment solutions. Dr. Abhishek Jajoo Komal Dhoot Rizwan Khan,MSC Financial Crime, Manchester Univ. (DFSA Approved Senior MLRO) Vivek Mundhra Alok Bishnoi CA Gaurav B. Mirza Almarzooq Nefal Barrak Armughan Siddiqui Muhammad Altaf Hussain Rajkumar TR P Satish Menon Fatima Nusaif #CBDC #DigitalCurrency #CrossBorderPayments #mBridgeProject #SaudiCentralBank #BIS #Fintech #InternationalTransactions #FinancialInnovation #GlobalBanking #CentralBank #Blockchain #DigitalTransformation #HKMA #BankingInnovation

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Alongside the BIS Innovation Hub, they have created a governance framework and comprehensive legal framework, including a rulebook, to support the platform’s decentralised nature. -with Saudi Central Bank – SAMA https://lnkd.in/gDkBsYVG #fintech #CBDC #mbridge #banking #blockchain

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Revolutionizing Financial Services and Market Dynamics in the UAE By: Roberto d'Ambrosio, Director & CEO at Axiory This article serves as a compass for this issue of the Financial Integrator magazine, delving into the United Arab Emirates’ dynamic financial transformation journey. Through digitalization, fintech integration, inclusive policies, regulatory reforms, global competitiveness, and strategic data analytics, we unravel the multifaceted approach reshaping the UAE’s financial landscape. In the ever-evolving landscape of global finance, the United Arab Emirates (UAE) stands at the forefront of innovation and progress, redefining market dynamics through innovation, inclusivity, and global competitiveness. Read More: https://lnkd.in/dUXsp4HR #axiory #financialservices #digitalization #financialintegrator

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🌟 Exciting Growth in Digital Banking in the UAE 🌟 Digital banks in the UAE are booming! Our CEO, Ghady Rayess, discusses the transformative role of the UAE Central Bank and FinTech innovations in a recent feature at Al Bayan Newspaper. Discover how new licenses, diverse payment solutions, and AI are shaping the future of finance. Read the full article 👇 #DigitalBanking #FinTech #Innovation #UAE

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🚨 QCP Capital Has Receives In-Principle Approval From Abu Dhabi for Regulated Digital Assets Activities🚨 QCP Capital has secured preliminary approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) for its regulated digital assets activities QCP Capital became the first market maker and crypto broker in the UAE capital to receive initial approval in the capital of the United Arab Emirates.  At the same time, the milestone underscores Abu Dhabi's emergence as a leading hub for crypto initiatives. QCP Capital's partnership with further ventures represents a strategic move to grow operations in the Middle East. Stay tuned with Web3R&D for Further Updates! PC- Crypto. news #QCPCapital #Crypronews #Web3withus #digitalassets #DigitalAssets #AbuDhabi

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The Islamic finance industry continues to grow worldwide, surpassing Dh16.5 trillion in 2022 and is forecast to grow to Dh24.5 trillion by 2027. Nivetha Dayanand speaks to Christoph Koster, CEO of ruya, about how the UAE bank is leveraging technology to offer Sharia-compliant digital banking services. Follow the link for more information: https://lnkd.in/dfaVi7NP #ruya #digitalbanking #islamicfinance #financemiddleeast

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mamun and Visa to collaborate on embedded finance use cases for Oman and beyond leveraging Financial Services Authority of Oman global regulatory framework and mamun proprietary embedded finance layer.

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 A leading private bank faced escalating transaction volumes and increasing load on its Core Banking System (CBS). Isolating transaction failures across infrastructure, channels, and upstream systems was time-consuming and unclear. They needed a robust solution to enhance the resilience and uptime of their Finacle CBS. vuSmartMaps™ provided a holistic view of CBS applications, infrastructure, and related interfaces. 🌟 Business Impact: Before VuNet: ↘ Limited visibility ↘ Manual, serialized triaging ↘ Delayed failure cause analysis ↘ Constant stress and repeat incidents ↘ Sporadic outages After VuNet: ↗ Comprehensive view across infrastructure and applications ↗ Real-time performance monitoring ↗ Accelerated Mean Time to Detect (MTTD) & Mean Time to Resolve (MTTR) (< 15 mins) ↗ Improved uptime through remediation of repeat incidents ↗ Superior uptime, enhancing customer experience ↗ Enhanced CBS resiliency Read the full case study here: https://lnkd.in/gGSTyWAj #Observability #DigitalTransformation #Fintech #CoreBankingSystem #VuNet

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By Gaurav Arora, Global Head of Competitor Analytics at Coalition Greenwich (a division of CRISIL). The Middle East banking sector is a competitive landscape which is going to get a lot more intense. We see globally, banks are looking at GCC as a growth region a lot more intently. While these are positive aspects in terms of the region being a key growth driver in the global scenario, it also attracts more competition and hence more investments from global banks into the region. On the other side, we do see the local banks becoming more regional. They are not just within the GCC, but are looking to expand to other markets as well. Khaleej Times https://lnkd.in/eeeqzWyX

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In a groundbreaking development, QCP Capital has been granted In-Principle Approval by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)! 🎉 This achievement solidifies QCP Capital as the latest digital assets firm to establish a licensed presence in Abu Dhabi. 🌍✨ CEO Melvin Deng expressed, "Our intention is to be a responsible player that wants to support market confidence. We are proud to be the first Singaporean digital asset market maker and broker-dealer to set up here in the market and hope we can encourage others to venture into this dynamic market." 💼💡 Abu Dhabi Global Market is swiftly emerging as a prominent crypto hub in the region, and QCP Capital is poised to contribute its expertise as pioneers in the digital assets space. 🌐💪 #QCPcapital #AbuDhabiCrypto #DigitalAssets #CryptoHub #Crypto #Blockchain #CryptoMarket #ADGM #Fintech #Leadership #Finance #CryptoInnovation 

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DIFC publishes report on regional outlook for banking, capital markets Dubai International Financial Centre (DIFC), the leading global financial centre in the MEASA region, has published a “Regional Outlook for Banking and Capital Markets” report in partnership with LSEG Data & Analytics. The report focuses on how regional IPO growth is expected to come in three phases. Firstly, the continued privatisation of state-related entities, followed by listings by family-owned companies, and lastly, FinTech and tech-enabled start-ups. Additionally, the report considers the profile of investors based in the region, especially Dubai, which has attracted a rising number of wealthy individuals and families who are seeking to capitalise on investment opportunities. Commenting on the report's findings, Arif Amiri, Chief Executive Officer, DIFC Authority, said, “Driven by the surge in IPOs, capital markets across the MENA region have experienced remarkable expansion, driven by reforms aimed at enhancing market infrastructure and fostering greater foreign and regional investment inflows. With its strategic initiatives and robust regulatory framework, DIFC plays a pivotal role in driving innovation and stimulating growth within the financial sector. Dubai’s IPO boom underscores the city’s status as a thriving hub for capital markets, and DIFC’s role in enabling this acceleration through the firms that drive capital markets and provide advisory services for IPOs will continue to contribute to the dynamic evolution of global finance.” #banking #UAE #capitalmarkets #DIFC

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Central Bank of the UAE is all set to issue open finance regulation. https://lnkd.in/e5h9GmFE #fintech #openbanking #openfinance #regulations #financialservices

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Al Etihad Payments (AEP), a subsidiary of the Central Bank of The UAE (CBUAE), has partnered with G42's Core42 to initiate the implementation of #OpenFinance in the #UAE. This collaboration aims to establish global standards for open finance and enhance #digital #financialinclusion. Open Finance facilitates secure data sharing and financial transactions, promoting innovation and customer-centric services. Under CBUAE regulations, Open Finance will begin with Open Banking followed by Open Insurance, reaching the majority of customers by 2024. AEP has engaged Ozone API and Raidiam as technology providers within the Core42-led consortium for Open Finance Implementation. This initiative is part of CBUAE’s Financial Infrastructure Transformation (FIT) Programme, which aims to advance the UAE's financial services industry, accelerate digital financial services adoption, and provide consumers with innovative and secure financial products and services. The UAE leads globally in implementing a consolidated trust framework and centralised API hub, ensuring secure access to banking and insurance markets with customer consent. With the launch of Open Finance, Al Etihad Payments is strengthening the UAE's financial services sector and establishing itself as a leader in the global open finance movement. This is an exciting development that will benefit consumers and businesses alike. “The implementation of Open Finance marks a significant advancement in the UAE’s financial services industry and its financial #infrastructure transformation. It will accelerate the adoption of digital financial services, providing more innovative and safer digital financial products and services in the country. In addition, it will provide a seamless financial experience, ensuring consumers have control over their finances and efficient access to a diverse range of financial products.” - Fatma Al Jabri, Assistant Governor for Financial Crime, Market Conduct and Consumer Protection at the CBUAE. Jan Pilbauer #openbanking #fintech #digitalbanking #psp #payments #finance #fraud #‍digitalbanking #dubai #abudhabi #eu #innovation #startups #sustainability #law #fintech #ksa #india #crypto #leadership #lawenforcement #technology #banking #management #openinsurance #digitalwallets #wallets The Fraud Fellas‍‍

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Day 2 of the Capital Market Summit commenced with a compelling keynote by Ian Johnston, CEO of Dubai Financial Services Authority (DFSA). He addressed the intersection of innovation, regulation, and governance within the financial sector, emphasizing the importance of evolving regulatory frameworks to match the pace of advancements in FinTech, cryptocurrencies, and digital transformation. Key takeaways included the need for strong governance and the strategic priority the DFSA places on cybersecurity and ethical concerns in AI. #CapitalMarketSummit #Dubai #May2024 #DFSA #Fintech

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Role of consortiums for digital business models - Digital revolution is sweeping #financial #services #globally and across MENA region as we see an increasing number of countries introducing new regulatory frameworks for digital business & operating models. #FinTechs, #Traditional #financial #institutions, #Telecom companies, #BigTechs, Tech giants, #Retail Hubs, non-financial service players and other large #corporations are now eyeing the opportunity and aspiring /working towards acquiring these #licenses – and many are doing so in #consortiums to maximise their chances. Specific to the #digitalbank #licenses and having a first-hand experience in eastern world, it is quite evident on the popular consortiums winning licenses Based on the successful examples, a right consortium needs to have a #consensus on the understanding the role of each member to the below components inorder to achieve the common goals of supporting #financial or #insurance #inclusion, #SME enablement, #sustainable business model & creating #economic impact ✔ Business proposition & Addressable market ✔ Customer base and distribution network (Offline/Online) ✔ Capital Management ✔ Technology and analytics expertise ✔ Risk management and compliance Aside to this and on to the #BCG’s latest analysis on the #digitalbanks, it is quite interesting to know the magnitude increase of the global digital banks to the #profitable ones. A constant debate across the markets on the #viability, efforts required to establish one, #regulatory process & #waittime, #competition vs the #valuation along with other intangible #rewards! As a part of the #FinTech #strategy for State of #Qatar on drafting the digital bank #regulation and in the current application acceptance process for #digital #insurance, it is quite encouraging to see how some of the #consortiums are coming up and value being proposed While, I personally see this as a beginning of a busy #consortium conversation season in #Qatar, consciously look forward to welcome more creative consortiums that fill all the required dots and wait to have detailed conversations on the value proposition & how it can support #National #goals #DigitalInsurance #DigitalBank #Consortiums #Regulatory #Licenses #Riskmanagement #Qatar #FinTech #Innovation

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