Naima AL FALASI - PMP®️ ICBB™

Role of consortiums for digital business models - Digital revolution is sweeping #financial #services #globally and across MENA region as we see an increasing number of countries introducing new regulatory frameworks for digital business & operating models. #FinTechs, #Traditional #financial #institutions, #Telecom companies, #BigTechs, Tech giants, #Retail Hubs, non-financial service players and other large #corporations are now eyeing the opportunity and aspiring /working towards acquiring these #licenses – and many are doing so in #consortiums to maximise their chances. Specific to the #digitalbank #licenses and having a first-hand experience in eastern world, it is quite evident on the popular consortiums winning licenses Based on the successful examples, a right consortium needs to have a #consensus on the understanding the role of each member to the below components inorder to achieve the common goals of supporting #financial or #insurance #inclusion, #SME enablement, #sustainable business model & creating #economic impact ✔ Business proposition & Addressable market ✔ Customer base and distribution network (Offline/Online) ✔ Capital Management ✔ Technology and analytics expertise ✔ Risk management and compliance Aside to this and on to the #BCG’s latest analysis on the #digitalbanks, it is quite interesting to know the magnitude increase of the global digital banks to the #profitable ones. A constant debate across the markets on the #viability, efforts required to establish one, #regulatory process & #waittime, #competition vs the #valuation along with other intangible #rewards! As a part of the #FinTech #strategy for State of #Qatar on drafting the digital bank #regulation and in the current application acceptance process for #digital #insurance, it is quite encouraging to see how some of the #consortiums are coming up and value being proposed While, I personally see this as a beginning of a busy #consortium conversation season in #Qatar, consciously look forward to welcome more creative consortiums that fill all the required dots and wait to have detailed conversations on the value proposition & how it can support #National #goals #DigitalInsurance #DigitalBank #Consortiums #Regulatory #Licenses #Riskmanagement #Qatar #FinTech #Innovation

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🔗 Cross-Border CBDCs Move Closer to Reality with Landmark mBridge Transaction Central Bank Digital Currencies (CBDCs) are becoming a reality as the mBridge platform facilitates its first successful cross-border payment, marking a significant shift in the global financial landscape. RAKBANK has become one of the first banks in the UAE to execute a cross-border CBDC payment, exchanging China's digital Yuan (eCNY) for the UAE’s Digital Dirham. Project mBridge, launched in 2021, is an ambitious initiative aimed at addressing inefficiencies in cross-border payments, such as high costs, slow processing times, and operational complexities. This collaborative effort involves the Central Bank of the UAE, the BIS Innovation Hub, the Bank of Thailand, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority. Utilizing distributed ledger technology (DLT), mBridge enables real-time, peer-to-peer transactions across borders. The successful transfer demonstrates the growing potential of CBDCs to streamline international payments. This milestone, completed without the need for conventional payment rails or third-party currencies, underscores the transformative impact of blockchain-based exchanges in improving the efficiency of cross-border transactions. #CBDC #DigitalCurrency #CrossBorderPayments #Blockchain #FintechInnovation #mBridge #FinancialTechnology #DigitalTransformation #FutureOfBanking #GlobalFinance #DLT #UAE #UAECB #CentralBanking #BIS Paul Kayrouz Raheel Ahmed Vikas Suri Shehzad Hameed Pierre Samaties Mo Ali Y. Mohamed Roushdy, MBA

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The CBUAE's new Token Payment Services Regulation seems to have created quite a stir not least because of the apparent restrictions it places on the use of cryptocurrencies. However, the really interesting developments may actually happen behind closed doors as the biggest promoters of virtual assets, the Financial Free Zones and VARA, head to to Al Bateen for 'discussions'. As I've always advocated, there are inherent weaknesses in the application of the legal and regulatory infrastructure that currently exists between onshore jurisdictions in the UAE. This may just bring that whole 'tolerated practices' nonsense to a head.

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My interview on @AlArabiya on the performance of UAE banks due to underlying strong macroeconomic conditions: 3.5% real growth and 7.8% current account surplus creating liquidity, rise in foreign assets, and strong core financial soundness indicators https://ara.tv/v6vv6

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🌍 Exploring the UAE's Payment Landscape: A Deep Dive 💳 "The State of Payment in the UAE" delves into the dynamic and rapidly evolving payment ecosystem in the UAE, highlighting key players, regulatory frameworks, and emerging trends. Key takeaways: - Robust Growth: The UAE's payment sector is poised for substantial growth, with a projected revenue increase of 3.6% CAGR over the next five years. - Diverse Ecosystem: From government initiatives like Al Etihad Payments to innovations from global giants like Visa, Mastercard, and local fintechs, the UAE's payment landscape is thriving. - Digital Transformation: UAE national banks and fintech companies are leading the charge in digital innovation, with investments in AI, blockchain, and the creation of neobanks. - Strategic Alliances: The sector is seeing significant acquisitions and partnerships, underscoring the UAE's commitment to becoming a global financial hub. For professionals and stakeholders in the financial sector, this report is a must-read to stay ahead in this fast-paced environment. 📊 #UAE #Fintech #DigitalTransformation #Payments #Innovation #FinancialServices

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Saudi Arabia’s digital revolution in banking has significantly enhanced the nation’s economic landscape, facilitating effortless financial transactions for customers. Speaking to Arab News, partner Fabrice Franzen highlighted that the Kingdom has been one of the first countries to issue full digital banking licenses without branches, supported by SAMA’s promotion of the digital bank model. He emphasized that this development will foster competition, drive innovation, and enhance customer experience. Franzen also noted SAMA’s active support for the fintech scene, providing diverse licensing options, and the role of local investors in funding fintech ventures. He pointed out that customers now expect digital banking services that match the convenience of other mobile solutions, particularly benefiting those in remote areas with fewer branches. Read the full article: https://atbain.co/4cJxWdn

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British Embassy Doha, in collaboration with the Qatar Ministry of Foreign Affairs (MOFA), the AI Committee of the Qatar Ministry of Communications & Information Technology (MCIT), and Qatar Research, Development and Innovation Council (QRDI), is pleased to invite proposals for a Gulf Strategy Fund (GSF) scoping project on Qatar-UK Collaboration on Artificial Intelligence (AI). The project will be delivered between September 2024 and March 2025. The focus of this project is on collaboration to address the shared, and multifaceted, challenge of building and scaling AI ecosystems. This is about coordinating and aligning government, academic and commercial efforts and resources across a range of domains, building self-sustaining, dynamic, ethical, ecosystems which both produce leading AI-enabled enterprises and contribute more generally to national AI development and positioning on the international stage.

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