Jake Hall’s Post

🚀 #ExcitingNews! 🚀 📢 Project mBridge Reaches MVP Stage: Collaborative Effort by Central Bank of the United Arab Emirates (CBUAE), Hong Kong Monetary Authority (HKMA), Bank of China, Bank of Thailand, and Saudi Central Bank – SAMA joins as Full Participants. The initiative now includes over 26 observing members. Leveraging distributed ledger technology, Project #mBridge aims to revolutionize the speed and transparency of cross-border transactions, paving the way for a more interconnected global economy. The next phase, which includes private sector firms, promises to unlock even greater possibilities and use cases. As Project mBridge continues to evolve, the future of cross-border payments looks promising. This initiative highlights the critical role of collaboration and innovation in advancing the financial industry. #speed #transparency #finance #saudiarabia #uae #thailand #hongkong #china #payments #ledger #financeindustry #technology #CIFDAQ Himanshu Maradiya | Sheetal Maradiya | Rahul Maradiya

✨ Sneak Peek Alert! ✨ We are thrilled to present the first-ever report on Islamic Fintech development in South East Asia, a groundbreaking collaboration between ASAD Institute and INCEIF University! 🚀📊 Get ready to dive deep into the latest Islamic fintech landscape, the potential of SEA to become an Islamic fintech hub, the regulatory framework of Islamic fintech, Islamic finance literacy, how the intersection of ESG and Sharia can boost profitability of fintech, and many more insights. This report is essential for investors, regulators, financial institutions, and anyone interested in the future of finance. Stay tuned! #IslamicFintech #Innovation #ASADInstitute #INCEIFUniversity #FinancialTechnology #SouthEastAsia #2023Reports #FutureOfFinance #FintechInsights #IslamicFinance #ESG #ShariaFinance #Stakeholders

Expanding into new regions 🌍 should be a key goal for any financial institution ( FI)! It opens up opportunities to tap into fresh customer bases, diversify market presence, and adapt to unique regulatory environments that can spark innovation. By stepping into new territories, FIs can better position themselves against competitors, access new talent pools, and potentially boost their valuation 🚀. Want to know more about how fintechs and FIs are winning big in the #MENA region? Check out our latest insights to see what unfolded there! 📊 Ezdaher Financing Company MENA FINTECH ASSOCIATION Boubyan Bank Temenos HDBank Galaxy FinX (Vikki Digital Bank) Qardy MenaMoney Gulf Bank Meethaq Islamic Banking QIIBOFFICIAL The Stock Exchange of Thailand Export-Import Bank of Thailand

The wide-ranging achievements in fintech, capital markets and insurance under the Financial Sector Development Program in 2023 are a testament to the Kingdom’s continuous efforts under #SaudiVision2030 to unlock the true potential of the Kingdom’s evolving economy in all sectors. #SaudiArabia #AnnualReport https://lnkd.in/dEXzwuJm

Crisp Finance Middle East read with J.K. Khalil's reflections on the force of scale in delivering growth across #EastArabia with Mastercard's new #Division structure and focus. It is also an open invitation to share our commitment to shape global financial trends by leveraging #AI, powering #Fintechs and transformative collaborations with the #PublicSector, #FinanceInstitutions, #Telcos and #IGOs #CyberSecurity #DataInsights #Payments #Tokenization #BaaS #ESG Mastercard for Government

Big news for the Digital Finance World! Kuwait’s fintech leader, Kem, just secured a $3 million investment from Tether, the biggest player in the digital asset space. With this boost, Kem has raised a total of $4.5 million to date. Their instant P2P payment platform, powered by QR CODES, makes sending money a breeze, without needing traditional accounts or payment links. This partnership is game-changing for millions across the region! The goal? Expanding access to decentralized financial services and giving people the tools to fight hyperinflation and currency instability. Tether’s move is more than just financial backing—it’s a step towards shaping a digital cash economy in the Gulf Bank. 🇰🇼 With Kem’s rapid growth, Kuwait is now on the map for foreign investments in fintech, keeping pace with regional giants like UAE and Saudi Arabia. Timothy Li, Tamer Gamali, Zane Sadeq, Bechara Yaziji, Faris Al-Obaid, M.A. Seth Sadeq, Ghadeer Faleh, Khalid Baz, Rayce Sadeq (Abal) How do you think digital payments will reshape the region’s economy? https://lnkd.in/dkezAtdn #DigitalFinance #FintechRevolution #CryptoGulf #MondayFunding

#Fintech thought leader Panagiotis Kriaris explores how #Huawei's #4Zeros framework helped Thailand's Siam Commercial Bank:   ✅ transform into an AI-first bank ✅ attract 45,000 new customers in 3 months   Learn more on #HuaweiBlog 🔗 https://lnkd.in/gtRqFp3z #WinWin

Buna (The Arab Regional Payments Clearing and Settlement Organization) looks to shape cross-border payments in the Arab region and beyond Read the full article: https://bit.ly/3Uk2Vpm At Sibos 2024 in Beijing, Mehdi Manaa, CEO of Buna, took centre stage to discuss how the platform is revolutionising cross-border payments in the Arab region and its future impact beyond. Launched by the Arab Monetary Fund (AMF) in 2020, Buna is a regional payment platform that facilitates seamless international payments and settlements across multiple currencies. It addresses long-standing challenges in cross-border payments, including inefficiencies, high costs, and complex regulatory landscapes. During the “View from the Top” chat, Manaa shed light on Buna's large-scale transformation, innovation in foreign exchange (FX), and its approach to compliance, all aimed at improving financial integration and economic growth in the region. He highlighted how Buna’s mission began with solving inefficiencies inherent in traditional cross-border payment systems. "Cross-border payments tend to be complex, slow, and expensive," Manaa noted. These payments often involve numerous intermediaries and complex processes, leading to delays and unpredictable costs. Buna's real-time gross settlement system (RTGS) was designed to overcome these challenges by facilitating faster, more cost-effective transactions across multiple currencies. "We are bringing the same efficiency and simplicity that we see in domestic payments to the cross-border level," Manaa explained. Buna processes transactions in seconds, vastly improving the time and cost efficiency for participating banks and financial institutions. Get the latest updates from Sibos 2024 here: https://bit.ly/40cCuFB Christy Hernandez, Whikie Liu Foo Boon Ping 胡文彬, Cindy Yu, Eunice Foong, Chris Kapfer, Ruoxin Qi, TAB Global #Buna #ArabMonetaryFund #AMF #CrossBorderPayments #FinancialIntegration #DigitalCurrencies #BlockchainTechnology #AMLCompliance #CFTRegulations #CentralBankCollaboration #RealTimePayments #ForeignExchange #EconomicGrowth #PaymentInnovation #FinancialServices #Sibos #TheAsianBanker #TABGlobal

The Central Bank of The UAE (CBUAE) and Bank CTBC Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. Building on a previous MoU from November 2023, this new agreement aims to link the payment systems of the two countries, promoting faster, more efficient, transparent, and affordable cross-border payments. It will also establish a joint risk management mechanism, regulatory cooperation, and protection of user rights in compliance with each country’s laws. The next step involves creating a cooperation framework for local currency transactions (LCT) and payment systems, starting with Quick Response (QR) payments. Once implemented, the cross-border QR payment linkage will use direct local currency exchange rate quotations from appointed cross-currency dealer (ACCD) banks. This collaboration as a whole aims to make cross-border payments between Indonesia and the UAE cheaper, faster, more inclusive, and transparent. (Image by FintechNews) #Fintech #DigitalPayments #CrossBorderPayments #CBUAE #BankIndonesia #Innovation

 At the just-ended 3i Africa Summit in Accra, where central bank governors, multilateral institutions, investors, and innovators convened to unleash Africa’s digital and fintech economic potential, Brij Technologies Inc. demonstrated its BrijX solution, which enables real-time direct currency swaps, peer-to-peer, without the need for foreign exchange, credit cards or other financial intermediaries. It was a historic milestone in breaking down the cost of entry to intra-African trade for individual citizens, and for small and medium-scale enterprises (SMEs). This milestone was made possible through the Innovation Sandbox set up by the Bank of Ghana’s Office of Fintech and Innovation, to give innovators an opportunity to test market-ready products, giving Brij an intermediate regulatory authority to connect Ghana with other approved countries including Nigeria, Uganda, Rwanda, Kenya, Tanzania, and Botswana. https://lnkd.in/dakHvhgG