The Finance World Magazine| Edition: March 2023

Indo-Arab Professionals Pioneer a New Era of Finance in Dubai
A
group of Indo-Arab professionals
have come together to launch a
financial vehicle in Dubai, aiming
to bridge the gap between the
Indian and Arab financial markets. The
new venture aims to provide top-notch
financial services to both individuals and
businesses, with a focus on fostering
economic ties between India and the
Arab world. The launch of this financial
vehicle marks a significant step towards
realizing the full potential of the Indo-
Arab economic partnership. The team
behind the venture comprises experienced
finance professionals who bring a wealth
of expertise and knowledge to the table.
UAE’s NFT Market Set for Skyrocketing Growth
with Over 45% Annual Increase
The non-fungible token (NFT)
industry in the United Arab
Emirates (UAE) is expected
to experience tremendous
growth in the coming years, with
projections of an increase of over
45% annually. This growth is driven
by a surge in demand for unique and
authentic digital assets, such as art,
collectibles, and even real estate. The
UAE is positioning itself as a leader
in the NFT space, with a number of
initiatives aimed at promoting the use
and adoption of NFTs. From hosting NFT
exhibitions and auctions to launching
NFT marketplaces, the country is
fostering a thriving ecosystem for NFT
enthusiasts and creators.
UAB Joins Forces with UAE Trade Connect to
Revolutionize Trade Finance with Blockchain
Technology
The United Arab Bank (UAB)
has announced its participation
in the UAE Trade Connect, a
fintech blockchain platform
aimed at revolutionizing trade finance
in the country. The platform, which is a
collaboration between the UAE Central
Bank and Emirates Development Bank,
is designed to streamline the trade
finance process and provide increased
efficiency, security, and transparency for
all participants. By joining UAE Trade
Connect, UAB is positioning itself as a
leader in the fintech and blockchain space,
and is committed to providing its clients
with innovative solutions to meet their
trade finance needs. The platform will
enable UAB to offer faster, more secure
and cost-effective trade finance services
to its clients, enabling them to grow their
businesses and increase competitiveness
in the global marketplace.
Saudi Arabia Takes a
Giant Leap Forward
in Crowdfunding with
Fintech Licensing
The Central Bank of Saudi Arabia
has made history by licensing
two debt-based crowdfunding
fintechs, marking a major
milestone in the kingdom’s journey
towards financial innovation. The
move is in line with the government’s
vision to transform the country into a
hub for technological advancements
and financial services. The licensed
fintechs will now be able to offer
their services to the public, providing
an alternative to traditional lending
options and giving small businesses
access to much-needed funding. This
is a big step forward for the kingdom’s
fintech industry and signals a bright
future for crowdfunding and alternative
financing in Saudi Arabia. The licensing
of these fintechs will help drive financial
inclusion and support the growth of
the small business sector, ultimately
contributing to the country’s overall
economic development.
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