Chidi Okpala

Network International and Zand Bank Forge Strategic Partnership in UAE Fintech Sector. Network International, a leading digital commerce enabler in the Middle East and Africa, has entered into a referral partnership with Zand Bank, the UAE's first digital bank. This collaboration aims to transform the fintech landscape by enhancing and expanding financial services for fintechs and startups in the region. The partnership leverages Network International's expertise in card processing to support Zand's objective of becoming a digital economic accelerator, particularly through BIN Sponsorship opportunities. This initiative will enable fintechs to access card schemes and advanced digital financial services, facilitating card issuance and other financial operations. The UAE has been actively fostering a fintech ecosystem centered on innovation and collaboration, with the country holding a significant share of fintech investment deals in the MENA region. This partnership aligns with the UAE government's efforts to encourage the development of a robust fintech environment. Michael Chan 陈玉涛, CEO of Zand Bank, highlighted the partnership as a significant milestone in revolutionizing financial services in the UAE, aiming to drive greater financial inclusion and accessibility. Navneet Dave, Managing Director & Co-Head of Processing Services at Network International, expressed enthusiasm about the partnership's potential to transform the fintech landscape in the UAE. #Fintech #Africa #UAE #DigitalBanking #NetworkInternational #ZandBank

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Despite progress by Africa’s banking systems over the past twenty years, they remain relatively small, costly, and focused on the short-term end of the yield curve, and thus neither efficient nor inclusive. As of 2020, Africa’s banks were, on average, less efficient, but more profitable and operated in less competitive environments World Bank – Banking in Africa, 2023 #AfricanBanking #BankingEfficiency #EthipoianBanks #FinancialServices #BankingChallenges #GlobalBanking #FinancialSector #AfricanProgress

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Khalid Elgibali: How Mastercard is driving financial inclusion. Mastercard is rapidly evolving in fintech and financial inclusion, led by Khalid Elgibali, the chief operating officer for the Eastern Europe, Middle East, and Africa (EEMEA) region. Elgibali emphasizes the importance of cross-border payments in the Middle East due to its expat population, which heavily relies on such transactions. According to Mastercard's 2023 Borderless Payments Report, many UAE and Saudi Arabian respondents foresee increased cross-border payments in the coming year. In fintech, Mastercard is considered a key enabler, providing tools and partnerships to help companies scale. Examples include alliances with HyperPay, Loop, JazzCash, and initiatives in the UAE and Qatar. Lastly, Mastercard prioritizes cybersecurity through acquisitions and collaborations that harness AI technology to protect transactions and safeguard the digital ecosystem. #FinancialInclusion #FinTech #CrossBorderPayments #MiddleEast #Mastercard #Cybersecurity #AI #DigitalEconomy Find out more: https://lnkd.in/d3Nht_A2

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Islamic Banking & Finance -"Cryptic Charades and Moral Mirage: Unraveling the Enigma of Islamic Finance & Banking's True Value Proposition" The fascinating world of IsBF, where the pursuit of value intersects with the quest for brand promotion! In this global marketplace, where non-Muslim nations are courted, and even within the Islamic fold, the tune of IsBF resonates. Consider the vast landscape: 57 nations, over 400 banks, the Islamic Development Bank Group, a plethora of academic institutions, and countless luminaries. Yet, amidst this grandeur, where is the promised oasis of non-interest banking? Where is the innovative revenue model that distinguishes Islamic finance from its conventional counterpart? The rhetoric of social banking, ethical banking, and moral banking echoes loudly, but what is the true value proposition? Does Islamic finance indeed imbue money with intrinsic worth? Does it boldly eschew interest in favor of alternative revenue streams? Or is it merely draped in the garments of righteousness without substance? In this comedy of errors, one cannot help but ponder: What exactly does the IsBF offer to the global stage, beyond the confines of religious delineations? In the grand tale of IsBF, we've witnessed a journey filled with noble intentions, detours into the labyrinth of financial temptation, and a cast of characters ranging from sincere scholars to opportunistic bankers. Islamic nations, adorned with the armor of sincerity, embarked on a quest to craft a banking model free from the clutches of interest. However, over the past half-century, the allure of wealth has led them astray into the wilderness of false banking practices. Sure, IsBF has been around for fifty years, but let's not forget the seismic shift brought about by the internet era. Suddenly, conventional bankers caught a whiff of petro dollars mingled with the fragrance of Islamic faith, and they dove in headfirst. They justified their foray with excuses like "development" and "need-based," but beneath the surface lurked a hypocritical model, leaving Shariah scholars scratching their heads in confusion. Imagine the innocence of those scholars, unwittingly concocting a bookkeeping model using murabaha, only to have it peddled to universities as the holy grail of finance. To add a layer of irony, we've established an industry of awards celebrating this elaborate charade, where the fake model receives accolades year after year. So, what's the path forward, you ask? IsBF practitioners must be willing to open their minds to insights from all corners, regardless of religious affiliation, as long as they align with the righteous requirements. It's time to embrace transparency, and chart a course towards a financial landscape where integrity reigns supreme. "Invitation Extended: To Have An Open Source Knowledge For A Perfectly Functional NIB Model https://lnkd.in/gcv64nWc More inputs in Commodity Bankers Page https://lnkd.in/gaA42qWR

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Make transfers with Visa cards instantly!   KICB announces a launch of new services for Visa payment card holders on transfer of funds by card number or phone number, as well as a new opportunity to replenish your card from your Visa card issued by another bank. You don’t need to stand in line to process the transfer, you don’t need to fill out any documents, and the recipient does not need to receive codes or look for a bank office abroad. To send or receive funds, you just need to know the card number or phone number of the Visa payment card holder and have a Visa with KICB. Go to KICB mobile application, select any transfer option to a Visa card and in a couple of seconds you transfer funds to children for education abroad, relatives in other countries, friends for gifts, without interrupting your work, vacation or travel! Almost every person has several payment cards with different banks. And many people work remotely for companies abroad. Using several applications is not always convenient, especially when you need to collect money on one card. You can replenish your KICB Visa card instantly from your Visa cards of other banks. In honor of the launch of new services, from August 1 to September 30, 2024, all users of KICB mobile application will be able to do this completely free of charge*. Enjoy the convenience, simplicity and ease of transfers, and most importantly, do not waste time! Take the opportunity to replenish your Visa card for free! Remember that to make a transfer you don’t need to share your card PIN, card expiration date, or CVV2 code, even to people you know well.

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Commercial Bank International partners with areeba to advance FinTech payments in the UAE Commercial Bank International (#CBI) has announced a strategic #partnership with areeba, a global #payment #infrastructure provider in the #UAE. The partnership aims to empower #FinTechs with #scalable, #securecard #management capabilities and accelerate the growth of the country’s #digital payment ecosystem. With the UAE already accounting for 46% of FinTech #startups in the #MENA region, the agreement aims to further support the growth of the local FinTech landscape by enabling businesses to adopt innovative solutions. Source: IBS Intelligence

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#ICYMI Highlights of the recently released African Digital Banking Transformation Report 2024 by African Banker Magazine and Backbase. ✔️African banks have widely embraced digital transformation, considering it crucial for remaining competitive, meeting evolving customer demands, and countering growing competition from digital-first banks. ✔️There is strong evidence indicating consumer preference for digital banking once they become accustomed to it. The convenience, control, advanced security measures, and the desire for cashless banking have made digital banking an attractive option for consumers. ✔️Legacy systems pose significant challenges for African banks in integrating new digital platforms. This lack of interoperability and standardization between legacy and new systems is a major concern, impacting the ability of banks to innovate and adapt to changing customer demands. ✔️The success of KCB Bank Group in Africa has been attributed to its mobile-first digital strategy. With a mobile-first continent, where smartphones are becoming more affordable and internet penetration is increasing, a well-designed mobile-first strategy is crucial for attracting customers. ✔️Retail banking remains the most important market segment for digital banking investment in North African banks, with increased investments in SME platforms as well. External service providers are often relied upon, and legacy structures are seen to have a moderate impact on the ability of banks to adapt to changing customer demands. Read the full report below. #digitaltransformation #digitalbanking #banking #fintech #africa

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Baltic Payment Forum – March 5th, 2025, Vilnius Lithuania For the second year, I have the honor of being invited to share my thoughts with a select group of European Central Banks payments Experts and Payment Institutional bodies representatives. 2 Panel sessions on navigating into the significant challenges and opportunities payment innovation offers: - Navigating the evolving regulatory landscape in 2025 (Speaker) - Future-proofing payments: Embracing innovations and technology (Moderator) Both panels will provide a unique opportunity for open discussions, ensuring that expert panelists' perspectives, insights, and experiences are integral to the debate. This will help identify new business opportunities, use cases, and general advantages for Financial Institutions, PSPs, E-Money firms, and Fintech. Your presence and active participation are crucial in shaping the future of our industry and the way we navigate the challenges and opportunities of payment innovation. Please check the agenda and register to attend the event in the picturesque Vilnius. https://lnkd.in/eUr4YWRN

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The Central Bank of the UAE (CBUAE) has launched “Project Aperta,” a cross-border open finance initiative to enhance financial interoperability. Collaborating with international bodies, the project focuses initially on supporting SMEs in trade finance, simplifying access to financial products and reducing costs in international trade. The initiative allows cross-border data sharing, aiming to streamline account openings with foreign banks and foster economic growth through a secure, interconnected financial network. #uae #projectaperta #crossbordee #openfinance #sme #trade #banks #payment Your thought 💭??

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Based on the interview with Arsalan Ahmed, Director of FinTech EEMEA at Mastercard Business Development & Partnerships, here are some key points about Dubai: 🌟 Emerging Market: Dubai, though a relatively new player in the fintech space, is a robust and mature market. It is not characterized by the immaturity often seen in newer markets. 🌟Innovation-Friendly Environment: Dubai offers more opportunities for innovation compared to mature markets like Europe and the U.S., where disruption is harder due to established players. The market in Dubai is still evolving, making it easier for new ideas and technologies to take hold. 🌟Flexible Regulation: The regulatory environment in Dubai is more accommodating, allowing new entrants to navigate and innovate more easily within the financial sector, unlike in more established economies where regulations can be more rigid. 🌟Strategic Hub: Dubai's geographical location makes it a strategic hub, connecting the Middle East with global markets, which is advantageous for businesses looking to expand in the region and beyond. 🌟High Growth Potential: With the market still in its growth phase, there are significant opportunities for expansion and development in Dubai's fintech sector, contrasting with the slower growth potential in more saturated markets. #Fintech #Dubai #Innovation #BusinessGrowth #EmergingMarkets #TechHub Amritesh Pratap Singh Ankit Awasthi Alankrita Singh Chinmay Chitransh Fathima Salim Harshita M. Dr. Jatin Tekriwal Mansi Ganglani Paavni Garg @Raj Soumya Dixit Samina A. Simone Sony Shraddha Singh A product of Seeding Brains Coming Soon!

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I’m honored to be joining the panel discussion at the upcoming Dubai FinTech Summit organized by DIFC next week. We’ll be exploring the nuanced topic of ‘Banks Vs FinTech’s: Is there a Regulatory Arbitrage?’ Looking forward to engaging with fellow panelists and sharing insights. Stay tuned for updates! #DubaiFinTechSummit #RegulatoryArbitrage #BanksVsFinTech”

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Strategic Priorities for African Payments Leaders: Enabling Instant Payment Integration, Preventing Fraud, and Securing Seamless Operations. We are excited to announce that Andrew Pillay, Global Team Lead, Peach Payments, will be a key speaker at the Banking Transformation Africa Summit 2024! Andrew will address “Strategic Priorities for African Payments Leaders: Enabling Instant Payment Integration, Preventing Fraud, and Securing Seamless Operations.” His session will delve into the crucial strategies for advancing payment systems across Africa, focusing on achieving instant payment integration, combating fraud, and ensuring operational security. Don’t miss this opportunity to gain insights from one of the foremost experts in African payments and discover how to navigate the complexities of modern payment ecosystems: https://bit.ly/3eGvVCY #BankingTransformation #Payments #InstantPayment #FraudPrevention #FinancialSecurity #StandardBank #Summit2024 #Innovation #AfricanBanking #Leadership #BTA2024

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Access Bank Plc and Mastercard have launched a consolidated cross-border money movement system across #Africa that will enable businesses and consumers to send and receive international #payments to and from over 150 countries. Access Bank Group, a leading multinational bank, unveiled the innovative solution at a ceremony in Lagos, Nigeria, earlier this month. This initiative to expand access to cross-border payments and #remittances leverages on the network and treasury capabilities of Mastercard Move. It aims to bring Africa closer to the global economy by empowering entities to conduct instant, traceable, seamless, and cost-effective international transactions via Access Bank’s cutting-edge Access Africa platform. The ground-breaking collaboration represents a significant milestone in creating a more inclusive financial ecosystem in the continent, with both parties exhibiting commitment to apply their combined strengths, resources, and expertise to drive meaningful change and enhance financial inclusion for millions across the continent. #crossborderpayments #digitaltransformation #bankinginafrica #fintechafrica #innovation https://lnkd.in/dzUxzzFc

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AMINA Bank Launches the AMINA Payments Network (APN) Myles Harrison, Chief Product Officer atAMINA Bank said: “In an age where 24/7 cryptocurrency asset markets are normalised, and wider global crypto adoption continues to grow at pace, the demand for faster transactions is no longer a want, but a need. With the introduction of the AMINA Payment Network, the facilitation of seamless cross-border transactions between network members across the globe is realised, and the required efficiency of money markets can meet the demands of the current financial landscape.” https://lnkd.in/eHXwErBX #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Fintech Movers & Shakers - Ex-Tinkoff CEO Oliver Hughes joins Tabby's board as it expands its financial services #uaefintech #fintechuae #fintech #fintechnews #finance #technology #tech #technews #moversandshakers #jobs #fintechjobs #financialservices

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📊 SA Banking Sentiment Index 2024 – out today! Our latest report, based on data from over 3 million consumer posts on social media, analyses how South Africa’s leading banks are performing in customer experience, service quality, digital experience, and governance. The Index also highlights which banks are leading in Operational and Reputational Net Sentiment, unpacking the reasons driving both compliments and complaints towards SA's leading banks. Banks featured in this year’s Index include Discovery Limited Bank, Absa Group, FNB South Africa, Standard Bank Group, Capitec, African Bank, Nedbank and TymeBank. Explore the full report here – https://lnkd.in/dn37J92M #SABSI #SABankingIndex

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7 𝒅𝒂𝒚𝒔 𝒕𝒐 7 𝒔𝒆𝒄𝒐𝒏𝒅𝒔 — 𝒓𝒆𝒎𝒊𝒕𝒕𝒂𝒏𝒄𝒆𝒔 𝒈𝒐𝒕 𝒕𝒖𝒓𝒃𝒐-𝒄𝒉𝒂𝒓𝒈𝒆𝒅. Remember when sending money took a week? Over the last 20 years, the GCC remittance industry has been transformed by rapid technological advancement. In the early 2000s, remittances relied heavily on drafts that could take up to 7 days to reach their destinations. Today, with the rise of tech-driven banking and remittance services, transactions barely take seconds. The digitalization of the industry with the surge in remittance volumes—especially in countries like India—has dramatically accelerated the speed and efficiency of these transactions. Innovative digital solutions like instant credit options through payment cards, e-wallets, and mobile apps have enabled instant transfers, making the process faster, more efficient, and more secure. Advanced digital record-keeping and analytics further support compliance with Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) regulations. So, increased transparency and standardization ensure a safer and more reliable process. This rapid tech evolution is reshaping financial inclusion and security in different countries. It's been a game-changer for senders in supporting families and economies globally, making remittances faster, safer, and more convenient. As I look ahead, I’m excited to see what the next 20 years will bring to this industry. What's your take on this transformation? How has it impacted you or your business?

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