Mawarid Finance and its partners showcase innovative digital transformation and banking solutions

Dubai, United Arab Emirates: The Fintech and Innovation Summit, held recently organized by Mawarid Finance at the Palazzo Versace Hotel in Dubai under the theme "Empowering Innovation in Finance," spotlighted pioneering expertise in the digital transformation of financial services and innovations in core banking solutions. The summit also explored the promising future of Islamic fintech in the UAE.
The event brought together over 300 senior executives and decision-makers from institutions operating in the technology and financial services sectors, specializing in advanced banking solutions and digital transformation, alongside representatives from Al Qasimia University in Sharjah.
Leading organizations including Cedar Management Consulting, Mastercard, BML Technology, Arab Financial Services (AFS), and Al Qasimia University showcased their latest rapidly deployable trends and innovations designed to serve the UAE's banking sector. These initiatives are set to address the evolving needs of the rapidly expanding fintech industry, and are expected to drive a major leap forward in Islamic fintech. Ultimately, they aim to deliver innovative, high-quality services to Mawarid Finance's clients and to strengthen the UAE's position as a hub for modern banking solutions that support the digital economy.
During the summit, His Excellency Rashid Al Qubaisi Chief Executive Officer of Mawarid Finance, announced a series of partnerships the organization has recently established with leading companies both domestically and internationally. He also hinted at upcoming agreements with major institutions, describing them as "partners of success." Al Qubaisi reaffirmed Mawarid Finance's commitment to providing customized, innovative solutions tailored to the unique needs of each partner, moving beyond a one-size-fits-all approach — all with the aim of serving and empowering its valued clients.
His Excellency emphasized that Mawarid Finance, through its future-focused vision, is determined to serve as a true enabler for fintech companies, providing them with the tools they need to swiftly and efficiently launch digital financial services. He highlighted the company's commitment to fostering a fully integrated digital services environment, prioritizing transparency, leveraging data for informed investment decisions, and strategically planning every step to overcome challenges and achieve ambitious goals.
At the conclusion of the summit, His Excellency honored the organization's success partners and event sponsors, whose contributions have been instrumental in Mawarid Finance's notable achievements. Among those recognized were BML Technology, Arab Financial Services (AFS), and Falcon Eye Technology.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Al Etihad

2 days ago

• Al Etihad

CBUAE organises Climate Forum, ‘Network for Greening the Financial System' meeting in Abu Dhabi

19 June 2025 20:14 ABU DHABI (WAM)Under the Patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates (CBUAE), the CBUAE is organising its first Climate Forum and a meeting of the Network for Greening the Financial System (NGFS) at the St. Regis Saadiyat Island Resorts, Abu Dhabi, on June 26, two-day event demonstrates the CBUAE's commitment to driving sustainable finance and leading the transition towards a more sustainable financial system, in line with the UAE's vision to achieve net zero by Climate Forum brings together financial leaders, policymakers, international experts in sustainable finance and climate risks, and senior officials from regulatory bodies, central banks, and international financial aim is to exchange insights on ways to foster better integration of climate policies in risk management and investment and to explore effective solutions for enhancing financial sector resilience in the face of future climate and environmental will also address frameworks for activating regional and international cooperation in the areas of monetary policy, regulation and sustainable Islamic finance, thereby strengthening the complementary roles between the public and private sectors. This further underscores the UAE's growing position as a regional and international hub for leading the global dialogue on the future of sustainable NGFS meeting will be centred on 'greening' monetary policy frameworks. Discussions will focus on integrating climate change impacts into monetary policy formulation and operations, alongside reviewing the NGFS's latest work progress and plans. Since its inception in 2017, the NGFS has become a global force, uniting over 160 central banks and financial Mohamed Balama, Governor of the CBUAE, said, "The convening of the Climate Forum and the Network for Greening the Financial System meeting marks a milestone amidst the global shifts in economic policies and the growing climate challenges. In line with the wise leadership's vision for the UAE and its commitment to achieving net zero by 2050, the CBUAE continues to solidify its pivotal role in spearheading financial sustainability." He added, "This is achieved by strengthening the green finance infrastructure and developing regulatory frameworks that support the integration of climate risks within the financial sector's ecosystem, thereby enhancing its resilience, reinforcing its stability, and achieving the desired balance between economic growth and sustainability."

Middle East Eye

4 days ago

• Middle East Eye

Egypt's Sisi accused of 'giving away' strategic Red Sea land of Ras Shukeir after decree

In a move sparking shockwaves in Egypt, President Abdel Fattah el-Sisi has approved the transfer of a massive area of coastal land in the Red Sea province for sovereign sukuk (Islamic bonds) issuances in a bid to ease the country's soaring debt. The decision to allocate 174 sq km of land in the oil-rich Ras Shukeir area to the Ministry of Finance to use as sukuk has not been preceded by public parliamentary debates or discussions within civil society. Neither has the decree - published in the official gazette on 10 June - provided further details. The announcement only detailed the coordinates of the parts of the land. Sukuk are Islamic financial certificates similar to bonds, but structured to comply with Sharia law by involving shared ownership in tangible assets or investment ventures rather than interest-based debt. The announcement comes as Egypt intensifies its search for means of alternative financing to ease pressure on foreign reserves and contain mounting external debt amid a challenging economic crisis that has hit the country hard over the past years. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Regime critics were quick to condemn Sisi's call, viewing it as part of a broader state asset sell-off and an attempt to attract Gulf investors through Islamic Sharia-compliant financial deals. Last year, Egypt signed a $35bn deal with Abu Dhabi's ADQ sovereign fund to develop Ras el-Hekma on the Mediterranean coast. The agreement provided an injection of hard currency and temporarily eased pressure on the Egyptian pound. 'They are fooling Egyptians by saying this is not a debt-settling purchase. Sukuk is partial ownership of an asset that can be traded on financial markets' - Egypt opposition group Despite technical differences between the two arrangements, economists believe the government is trying to replicate that model: using land assets to generate liquidity. 'The move reflects a broader government policy of converting government-held assets into cash to finance debt issuance or meet ongoing financial obligations,' financial analyst Ahmed Abdel-Thaher told Middle East Eye. 'In this case, land - traditionally a non-liquid asset - is being leveraged to generate instant revenue. This way, returns are tied to the projected development or rental income of the land,' he explained. Egypt's external debt stands at nearly $155bn. Before the current fiscal year ends on 30 June, the country is committed to repaying around $60.8bn of that total. 'The Egyptian regime adopts a policy of hegemony of decision-making… and the external support [of Gulf nations]… when the Saudis or the Emiratis come to the rescue,' said political sociologist Dr Said Sadek. Tiran and Sanafir: Red Sea islands are now a chokehold over Egypt's security Read More » 'Economic dependency leads to political dependency and the loss of independence. The current economic policy is, inevitably, leading towards this direction,' Sadek told MEE. In response to the growing debate, the Ministry of Finance said in an official statement on Wednesday that the land would not be sold but used as collateral to issue sukuk to 'secure financing under favourable terms for covering the needs of the state's general budget'. The ministry further insisted the land remains state-owned. Ras Shukeir (also spelt Ras Shokeir) is located along the Red Sea coastline on the western coast of the Gulf of Suez, about 350km from the capital, Cairo. The area is also strategically significant due to its maritime activities and its role as a hub for green hydrogen and ammonia projects. 'Partial ownership' Opposition in Egypt and abroad, nonetheless, argues that Ras Shukeir holds too much strategic and economic value to be collateralised. 'We opposed the government's policy of taking further external borrowing, crying out again and again in warning of its terrible aftermath. But no one was hearing. All voices of opposition were criticised and rejected,' former presidential candidate Khaled Ali wrote in a Facebook post. 'Ramifications have been serious. We have borne the brunt of this policy through the collapse of the Egyptian pound's purchasing power and its continued decline against foreign currencies,' added Ali, also a prominent human rights lawyer. How Egypt lost its regional power – and became complicit in Gaza's siege: One on One with Hossam el-Hamalawy Read More » A darker scenario looms: that the sukuk issuances may not, eventually, yield sufficient revenue. 'Even if such deals bring in foreign currency, the government is giving away the country's assets and lands for temporary relief,' said a renowned economics professor, who asked to be unnamed for security reasons. 'What is going to happen when bonds mature and the revenues fall short?' he rhetorically asked. The exiled Egyptian Revolutionary Council voiced similar concerns. 'They are fooling Egyptians by saying this is not a debt-settling purchase. Sukuk is partial ownership of an asset that can be traded on financial markets. It might be a means of land acquisition, especially if Egypt cannot pay its sukuk due… considering the regime's indecisive economic policies and ongoing corruption over the past decade,' the Istanbul-based group argued in a post on X. National security concerns Although the presidential decree dictates that the military will oversee strategic areas in Ras Shukeir, national security concerns remain. 'The Red Sea coast - namely around Bab el-Mandeb and the Suez Canal entry points - is of huge strategic significance, crossing military, economic and geopolitical domains,' said a retired high-ranking army officer, asking to remain anonymous for not being authorised to talk to the media. 'With rising regional tensions, especially the Houthi attacks on Red Sea shipping lanes, control over Ras Shukeir and nearby areas has become more crucial,' the retired officer told MEE. Ras Shukeir is a key transit hub for crude oil exports and domestic energy infrastructure, linking Gulf oil flows to the Suez Canal and Mediterranean markets. 'Any disruption or foreign control in this area could jeopardise Egypt's energy security and further involve the country in the broader regional struggle over trade routes, resource flows, and political dominance,' the army veteran concluded.

Hi Dubai

5 days ago

• Hi Dubai

Empowering the Next Generation: Emirates Islamic Introduces ALPHA Youth Account

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched its new ALPHA Youth Account, designed to help parents save for their children while empowering the next generation with essential financial literacy skills. Customers can open the ALPHA Youth Account for their children under 18 years of age. Account holders receive access to a dedicated mobile banking app, which allows them to manage their money and begin their financial journey online, while receiving exciting rewards. ALPHA Youth Account holders will also receive an opportunity to participate in a Kunooz Savings Account daily draw of AED 1,000, get a complimentary Debit Card, pay zero monthly fees, and enjoy special offers on entertainment, dining, and shopping malls. The ALPHA Youth Account enables easy money transfers from parents to their children and offers parents better oversight into their child's spending habits. Parents applying for an ALPHA Youth Account for their children will also receive an opportunity to enter a Kunooz Savings Account draw for AED 1,000,000 every month, including an exclusive entry to an AED 50,000 draw. The parents also receive complimentary membership to the Rewards Plus App, providing a range of offers and discounts at more than 2,000 dining, shopping, entertainment, wellness, and luxury venues across the UAE. Commenting on the launch, Mohammad Kamran Wajid, Deputy CEO of Emirates Islamic, said: We are delighted to launch the ALPHA Youth Account which will help parents start saving early for their children while instilling financial literacy from a young age. Financial wellness is key to the growth of the nation's economy and wellbeing, and as a leading Islamic bank in the UAE, we are committed to improve financial literacy and empower families in managing their long-term financial goals. We are confident that the ALPHA Youth Account will encourage many UAE families to take the first step towards saving for the future. Mohamed Al Hadi, Head of Retail Banking & Wealth Management at Emirates Islamic, said: The young generation is extremely digital-savvy and socially aware. With the ALPHA Youth Account, we have implemented the latest technology to provide them with the tools required to make them financially responsible and start them on their journey towards financial wellness. Both the children and their parents can benefit from the range of rewards that come with the ALPHA Youth Account, including the opportunity to win AED 1 million with our flagship Kunooz Savings Account. The ALPHA Youth Account reflects Emirates Islamic's ongoing commitment to community empowerment, financial inclusion, and innovation in Islamic Banking. News Source: Burson Global