The Finance World Magazine| Edition: March 2023
The March edition of The Finance World Magazine (TFW) delves into the Zayed Ambition 2 project, which strives to investigate the feasibility of leveraging the UAE's burgeoning space economy for sustainable development. This initiative showcases the country's commitment to diversifying its economy and reducing its reliance on oil. In a featured interview, CEO Shaaista Khan Osman and Managing Director Osman Osman of Blu Blood share their insights about the event management industry in the UAE. This issue also includes insights from Sridhar Vembu, CEO of Zoho Corporation, on emerging AI tools, along with some advice for SMEs and startups. Through this edition, we also bring you insights on topics like the UAE's steadfast dedication to sustainable growth and development, Dubai surpassing global and regional tourism recovery levels, the sports industry emerging as a promising sector magnetizing international investors, and many more key informational articles in the finance sector. Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
The March edition of The Finance World Magazine (TFW) delves into the Zayed Ambition 2 project, which strives to investigate the feasibility of leveraging the UAE's burgeoning space economy for sustainable development. This initiative showcases the country's commitment to diversifying its economy and reducing its reliance on oil.
In a featured interview, CEO Shaaista Khan Osman and Managing Director Osman Osman of Blu Blood share their insights about the event management industry in the UAE. This issue also includes insights from Sridhar Vembu, CEO of Zoho Corporation, on emerging AI tools, along with some advice for SMEs and startups.
Through this edition, we also bring you insights on topics like the UAE's steadfast dedication to sustainable growth and development, Dubai surpassing global and regional tourism recovery levels, the sports industry emerging as a promising sector magnetizing international investors, and many more key informational articles in the finance sector.
Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
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Fintech News<br />
Saudi Arabia Boosts<br />
Startup with IMPACT46’s<br />
$133.33M Fund Launch<br />
IMPACT46, a Saudi Arabian venture<br />
capital firm, has launched a new<br />
fund worth $133.33M to support<br />
startups in the Middle East and<br />
North Africa (MENA) region. <strong>The</strong> fund<br />
aims to provide early-stage and growthstage<br />
companies with the necessary<br />
resources and expertise to scale their<br />
businesses and succeed in a competitive<br />
market. <strong>The</strong> launch of this fund is in line<br />
with the kingdom’s efforts to diversify<br />
its economy and boost entrepreneurship<br />
in the country. IMPACT46 plans to<br />
invest in a range of industries, including<br />
technology, healthcare, and education,<br />
with a focus on companies that have<br />
a positive impact on society and the<br />
environment. This move is expected to<br />
further enhance the startup ecosystem<br />
in Saudi Arabia and the wider MENA<br />
region.<br />
Bahrain’s Beyon Money Takes a Step Forward with<br />
TerraPay Partnership<br />
Bahrain-based fintech firm,<br />
Beyon Money, has announced<br />
a partnership deal with UKbased<br />
TerraPay, a leading<br />
global mobile payments network.<br />
<strong>The</strong> partnership will allow Beyon<br />
Money to expand its reach and offer its<br />
customers a wider range of services.<br />
Through this deal, TerraPay’s network<br />
of financial institutions and mobile<br />
operators will now be accessible to<br />
Beyon Money’s customers, allowing<br />
for seamless cross-border transactions.<br />
This partnership is a significant step<br />
forward for Beyon Money as it seeks<br />
Oman has launched an accelerator<br />
program aimed at supporting<br />
innovative fintech startups in<br />
the country. <strong>The</strong> program, which<br />
is designed to help early-stage companies<br />
grow and scale, will provide participating<br />
startups with access to resources such<br />
as mentorship, training, and networking<br />
opportunities. <strong>The</strong> program also aims to<br />
help these startups secure funding and<br />
to establish itself as a leading provider<br />
of financial services in the region.<br />
<strong>The</strong> deal will also support TerraPay’s<br />
efforts to expand its footprint in the<br />
Middle East and provide its partners<br />
with access to a growing market.<br />
Oman Boosts Fintech Ecosystem with Launch of<br />
Accelerator Program for Start-ups<br />
connect with potential investors. This move<br />
is in line with the Omani government’s<br />
efforts to diversify its economy and foster<br />
innovation in the country. <strong>The</strong> launch of<br />
this accelerator program is expected to<br />
bring a boost to the fintech ecosystem in<br />
Oman and provide a platform for local<br />
startups to showcase their products and<br />
services to a wider audience.<br />
Dubai Fintech Revolution: Chamber of Digital Economy Addresses<br />
Industry Challenges<br />
<strong>The</strong> Dubai Chamber of Digital<br />
Economy recently held a<br />
discussion addressing the<br />
challenges faced by fintech<br />
companies in the region. <strong>The</strong> event<br />
brought together leaders in finance and<br />
technology to discuss ways to overcome<br />
these hurdles and drive innovation in<br />
the sector. <strong>The</strong> chamber emphasized<br />
the importance of creating a supportive<br />
ecosystem for fintech startups and<br />
discussed potential solutions to issues<br />
such as access to capital, talent retention,<br />
and regulatory barriers. <strong>The</strong> discussion<br />
also touched upon the potential of new<br />
technologies, such as blockchain and<br />
artificial intelligence, to revolutionize<br />
the financial sector and drive economic<br />
growth. <strong>The</strong> chamber’s efforts to address<br />
these challenges and foster innovation<br />
in fintech are further solidifying Dubai’s<br />
position as a leading hub for digital finance<br />
in the Middle East.<br />
20 www.thefinanceworld.com <strong>March</strong> <strong>2023</strong>