AECB collects credit information from financial institutions in the UAE, such as banks and finance companies, as well as non-financial institutions in the UAE, such as telecom operators and large conglomerates – and government entities, such as courts and water and electricity providers, to produce Credit Reports and Credit Scores that are made available to individuals and businesses in the UAE.

Commercial Bank of Dubai has approved a debt financing deal with Postpay, an omni-channel Buy Now, Pay Later provider in the Middle East, according to a media release. This inaugural debt financing arrangement is another example of how FinTech and traditional banks are partnering to leverage their collective experience and expertise to enhance the suite of financial products offered in the market.

Instant Payments Platform, set to go live in October 2022, aims to provide best in class payments services, promote financial inclusion and increase financial stability in the United Arab Emirates.

Arif Amiri, said: “DIFC continues to advance its position as the region’s leading global financial center, business and innovation hub, driving not only the future of finance but increasingly the future economy. By supporting partners such as CBD to introduce creative initiatives similar to their Digital Lab, we are also helping Dubai become a global hub for innovation and technology.”

Muffazzal Kajiji Head of Mashreq Gold said: “At Mashreq Bank, we are committed to leveraging innovative solutions to offer our customers the best products in a seamless and efficient manner. Turtlemint, with its expertise in building insurance distribution platforms and deep knowledge of insurance solutions, was a natural choice for Mashreq Bank to consider for this platform”.