Mawarid Finance and AFS Launch Enablement Hub in UAE
Mawarid Finance and Arab Financial Services (AFS) have announced a strategic partnership to establish the UAE Fintech Enablement Hub, an initiative aimed at fostering innovation and growth within the Emirates' burgeoning financial technology sector. This collaboration brings together a leading Sharia-compliant finance institution and a prominent regional digital payment solutions provider to create a supportive ecosystem for fintech companies.
A Catalyst for Fintech Innovation
The newly launched UAE Fintech Enablement Hub is designed to serve as a catalyst for fintech expansion within the UAE and the broader MENA region. The hub combines the strengths of its two founding partners: Mawarid Finance, an Islamic finance firm with deep local market expertise, and Arab Financial Services (AFS), a well-established digital payment and fintech enabler with a presence in 20 countries.
What the Hub Offers to Fintechs
For founders and professionals in the MENA fintech scene, this hub represents a significant resource. It aims to simplify the journey from concept to scale by offering:
Access to AFS's advanced digital payment infrastructure and technology platforms.
Mawarid Finance's deep understanding of the local market and regulatory landscape.
Support in navigating compliance and operational challenges unique to the region.
A collaborative environment to foster partnerships and knowledge sharing.
Reduced time-to-market for new products and services.
About the Strategic Partners
Mawarid Finance: An Islamic finance company operating in the UAE, known for its Sharia-compliant financial solutions. Its involvement brings local market expertise, regulatory insights, and a valuable network within the UAE's financial sector.
Arab Financial Services (AFS): A leading digital payment solutions provider and fintech enabler in the MENA region. AFS offers a wide range of services including payment processing, fraud management, and payment gateways.
Looking Ahead
The launch of the UAE Fintech Enablement Hub underscores the commitment of both Mawarid Finance and AFS to the UAE's vision of becoming a global digital economy leader. By providing a dedicated platform for fintech support, the hub is expected to drive further innovation, attract investment, and contribute significantly to the digital transformation of the financial services industry within the Emirates and the wider region.
Source: BizBahrain