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title: Finance Newsletter july
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| Discover new partnerships, capital market news, and the latest technologies in the financial sector in EMEA. |
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| View in browser  Subscribe / See the Full Archive Finance Newsletter       July 2021 Newsworthy articles with a focus on Europe, Middle East & Africa Banks   Qatar National Bank expands footprint in Asia with Hong Kong branch opening   QNB Group has officially opened its branch in Hong Kong, one of the world’s prominent global financial hubs. As a newcomer to the market, QNB seeks to position itself as a reputable foreign bank to customers with trade and investment flows between Hong Kong, the Middle East, Africa, and Mainland China. Ghana International Bank Partners with Backbase to Accelerate Digital Innovation.   Ghana International Bank (GHIB) partnered with Engagement Banking technology provider Backbase. The partnership will underpin the bank’s digital transformation, accelerate innovation and, by allowing GHIB to create tailor-made solutions, provide an enhanced, seamless experience for the bank’s customers. Covid-19 vaccine: Will current market trends uncover Africa's potential?   Africa’s vaccine manufacturing potential has always been overlooked, but COVID-19 warranted a closer look at internal capability development. Is this the beginning of something bigger?   Qatar International Islamic Bank (QIIB) awarded ‘Best Digital Bank in Qatar’ by Union of Arab Banks   QIIB was awarded ‘The Best Digital Bank in Qatar’ by the Union of Arab Banks at a ceremony held to honor the “Best Arab Digital Financial Institutions 2020-2021”. Standard Chartered opens first branch in deal-rich Saudi Arabia   Standard Chartered Plc opened its first branch in Saudi Arabia as the kingdom attracts Western banks keen to cash in on the country’s economic reform. The London-based bank began operations from its Riyadh branch in the last couple of weeks with a 35-strong team, which is expanding to more than 50 over the next few years. UAE digital bank Zand prepares for launch   Zand, which aims to be the first fully independent digital bank in the UAE, prepares to launch both retail and corporate services later this year. The new digital bank aims to challenge traditional banking rivals as the Covid-19 pandemic drives a wave of digital adoption across the Gulf. Top Italian Bank, Credem Goes Live with Temenos Infinity in the Cloud to Deliver Frictionless Digital Experiences   Credito Emiliano S.p.A. (Credem), one of the top 10 banks in Italy, has gone live with a new mobile app, based on cloud-native Temenos Infinity, to accelerate its digital banking strategy. Temenos Infinity will make it quicker and easier for Credem to develop frictionless, personalized, and secure digital banking services that will help it attract new customers and drive long-term customer loyalty. Bank of Uganda Launches Regulatory Sandbox Framework — One Fintech Firm Already Approved   The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. Technology   Binance Froze When Bitcoin Crashed. Now Users Want Their Money Back.   Binance, the world’s largest cryptocurrency exchange, froze for over an hour just as the price of bitcoin and other cryptocurrencies plunged. As losses steepened, the exchange seized their margin collateral and liquidated their holdings. Binance traders around the world have been trying to get their money back. However, Binance is largely unregulated and has no headquarters, making it difficult, for traders to figure out whom to petition. Europe's hottest fintech startups raised $17 billion in 2021   Fintech and insurance startups in Europe have raised $17 billion in a record year for investment as investor appetite soared. For instance,  Swedish buy now, pay later giant Klarna raised from SoftBank at a $45.6 billion valuation, cementing its status as Europe's most valuable private company. Similarly, Germany's Wefox hit a $3 billion valuation after raising the continent's largest ever insurance tech round at $650 million. Accenture Invests $12 Million in Swiss Payments Firm Imburse   Accenture has made a strategic investment of $12 million in Imburse, a Swiss cloud-based, payments-as-a-service enterprise platform that simplifies the way businesses around the world access the global payments ecosystem. Imburse will join Accenture Ventures’ Project Spotlight and will have access to Accenture’s global innovation network and the opportunity to co-innovate with Accenture software engineers, system architects, and payments experts   PayTabs Egypt wins "Best E-Payment Solution" at Entrepreneur Middle East's Leaders in Fintech Awards 2021   PayTabs Egypt, which set up operations in Cairo nearly a year and a half ago, announced that it has received the prestigious "Best E-Payment Solution" award at the 'Leaders in Fintech Awards 2021' presented by Entrepreneur Middle East. The event turned out to be a phenomenal evening, one which paid tribute to entrepreneurs and corporations shaping the future of the fintech industry.   Funding   Canadian Solar gets € 50m loan to back EMEA project development   Canadian Solar Inc has obtained € 50 million from Banco Santander SA to support project development growth in Europe, Middle East, and Africa (EMEA). The bilateral corporate facility, consisting of a term loan and a revolving credit facility of equal amounts, will help the company’s Global Energy business execute and expand its project development pipeline in EMEA. The European Investment Fund (EIF) and StudentFinance provide financial support to students investing in their future   The European Investment Fund (EIF) signed a guarantee agreement with StudentFinance covering a portfolio of up to €4 million in Income Sharing Agreements (ISAs) to support students in Spain wishing to invest in their studies and upgrade their skillsets Saudi Development Fund launches $9.2mn project to provide electricity to Syrian refugees in Jordan   The Saudi Fund for Development (SFD) launched a $9.2 million project to develop a renewable energy electricity network in Azraq camp for Syrian refugees in Jordan. The project is the first of its kind in the world in the field of renewable energy, as it provides clean energy for free for more than 5400,000 Syrian refugees, and secures electricity for more than 10,000 shelters, by connecting all camp facilities to the electrical network. Partnerships   Techstars Partners with Alphabit Fund and Launchpool to Launch New Blockchain-Focused Accelerator in London   The program runs in partnership with Alphabit Fund, the first regulated cryptocurrency and digital asset investment fund, and Launchpool, a regulatory compliant investment platform that offers private seed guaranteed investment opportunities to 35,000 members in its community. Western Union Collaborates with Leading French Fintech Linxo to Launch Digital Money Transfers   Western Union collaborated with Linxo, a leading budget management and bank account aggregation application in France, to enable users to make local and cross-border payments through Western Union’s platform.   INFOMINEO, Value added business research, Casablanca - Barcelona - Cairo -, Dubai, UAE Unsubscribe Manage preferences Infomineo is a data and research outsourcing company, dedicated to supporting global companies in getting access to information that powers their business decisions. Infomineo provides a quick access to market data on key questions such as: market and product prioritization, partner identification, commercial due diligence, route to market, supply chain mapping and competitive analysis among others. Along with conducting Custom Research for clients, Infomineo also delivers Expert Networkservices, Graphic Design  and Business Translation as a service.  |
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