GIB Capital and Saudi Awwal Bank executed the first transaction using the new workflow, with post-trade processing and clearing and settlement completed locally through Saudi Arabia’s Securities Clearing Center Company, Muqassa, and the Securities Depository Center Company, Edaa.

Local Workflow Connects Execution with Domestic Settlement Infrastructure

The enhancement extends the Tradeweb ATS beyond the international investor access that was established when the platform first launched. It introduces a domestic route specifically tailored to local account structures, settlement arrangements, and Saudi market trading conventions. The workflow is designed to bring more of the local SAR bond and Sukuk trading lifecycle into a connected electronic workflow, improving efficiency and providing a consistent audit trail from execution through post-trade processing.

Enrico Bruni, Co-Head of Global Markets at Tradeweb, said: “The introduction of local-to-local transactions on the Tradeweb ATS reflects the close collaboration across the Kingdom’s financial ecosystem to support a deeper, more efficient secondary market for Sukuk and SAR bonds. By connecting electronic execution with domestic post-trade infrastructure, we are making it easier for local institutions to access liquidity through a process built around their market conventions.”

Abdulhadi Shahadah, Head of Asset Management at GIB Capital, said: “Our participation in the first local-to-local transaction on the Tradeweb Saudi ATS demonstrates our commitment to market innovation that helps advance the electronification of the Kingdom’s fixed income market. This milestone gives domestic investors a new efficient way to access dealer liquidity electronically, while preserving the local settlement arrangements that are integral to the Saudi debt market.”

Mohammed Al Shaikh, Chief Treasury and Investment Officer at SAB, commented: “SAB was the first local market maker to execute a domestic KSA Sukuk trade on Tradeweb’s platform. As part of SAB’s role in providing liquidity to the market, we see clear value in an all-in-one digital trading platform that provides clients and dealers with a seamless trade lifecycle.”

First Transactions Signal Readiness of Saudi Debt Market Infrastructure

Mansour Altais, Chief of Business Development at Muqassa, said: “Muqassa’s market infrastructure serves a pivotal role through its connectivity with Tradeweb, providing a structured post-trade route for trades executed between local participants on the Tradeweb Saudi ATS. Muqassa will generate the required settlement instructions for Edaa, supporting an efficient post-trade and clearing and settlement process while aligning with the Kingdom’s established market infrastructure. Muqassa’s contribution to this initiative reflects its broader role in supporting the continued development, efficiency, and connectivity of Saudi Arabia’s debt capital market.”

The workflow is available to eligible professional investors and local dealers that meet the applicable Tradeweb, Muqassa, and Edaa onboarding and account requirements.

Tradeweb launched the Saudi ATS in October 2025 after being selected by the Capital Market Authority to build and operate the Kingdom’s first regulated electronic bond market infrastructure. The platform’s inaugural transaction at that time was executed between BlackRock and BNP Paribas. The ATS operates under Capital Market Authority supervision and supports the electronic trading of Sukuk and SAR-denominated bonds by professional investors. It forms part of Tradeweb’s global multi-asset emerging markets offering and has been designed to align international electronic trading capabilities with the conventions of the Saudi debt market. The infrastructure also provides flexibility for potential future expansion into additional products and workflows within the fixed income space, subject to regulatory approval.

The post Tradeweb Expands Saudi Debt Market Access with Local Trading first appeared on World Finance Informs.

The card, according to the CBO, will provide a secure and easy means for individuals all over the Sultanate to conduct transactions and will enhance the overall system by promoting increased self-sufficiency. By introducing a national payment card system, the regulator is signalling its commitment to building self-sufficiency and further develop its payment sector.

The bank has further noted that the card will deliver multiple benefits. It is expected to contribute to the digital economy, help lower operating costs for institutions, and improve liquidity within the market. At the same time, it aims to widen financial inclusion by making payment tools more accessible, while reducing reliance on international providers. 

Other Gulf nations have already taken similar steps. In Qatar, for instance, the central bank launched Himyan, the country’s first card carrying a national brand. The initiative builds on earlier projects to upgrade the country’s payment systems, and it supports banks and financial institutions in responding to rising demand for digital finance services. In addition to creating more opportunities for clients, it is now also a way of enhancing Qatar’s national brand in the financial sector.

The United Arab Emirates has done the same with its Jaywan card, providing a national alternative to international debit and prepaid products. Jaywan debit cards may be used for spending and withdrawals against accounts directly, while prepaid cards are generally used for budgeting or targeted use like travel.The versatility provides consumers and businesses convenient tools to cope with typical economic needs. 

Saudi Arabia also established its own local infrastructure in the form of Mada, a debit card network established by the nation’s banks. Mada is currently one of Saudi Arabia’s most prominent payment modes.

The post Oman to Launch National Payment Card for Domestic Payments first appeared on World Finance Informs.

According to KPMG study, 49% of finance teams in the UAE already use AI, 59% are planning or about to pilot initiatives, and a further 33% are in the planning or preliminary testing phase.

Accounting and management control teams are leading the way in AI testing because of its use in predictive analysis, narrative reporting, and providing real-time insights. A large regional bank in the UAE has adopted generative AI tools to support internal reporting, populate regulatory disclosures, and aid in financial risk assessments. A state-run utility firm has also implemented an AI assistant to automate billing, generate internal finance and better manage financial documentation workflows.

Even with the adoption of AI in UAE finance sector spreading, the impact is yet to be seen. KPMG cited that only 37% of finance leaders in the UAE report positive ROI from AI when compared to 66% worldwide. UAE businesses spend nearly 10% of their IT budgets on AI, second only to the global norm of 13%, demonstrating a clear intention to invest. The challenge is to transform these investments into structured and scalable adoption so that AI becomes a foundation for performance.

Regulation is not seen as a major barrier to adoption of AI in UAE finance sector. Only 25% of finance leaders identified regulatory frameworks as a challenge. With no restrictive AI-specific regulations and steady government backing, the UAE is in a good position to close the adoption gap with their global counterparts.

Generative AI (GenAI) is another domain that is seeing increased adoption. After leading early adoption, 41% currently use GenAI for financial reporting. This is expected to grow to 88% over the next three years. Furthermore, 54% of leaders is anticipated to invest more in GenAI compared to traditional AI tools in the coming year, highlighting its status as a strategic technology that is increasingly considered a must-have. 

The post Adoption of AI in UAE Finance Sector Outpaces Global Average first appeared on World Finance Informs.

The solution utilizes Mastercard Gateway’s new Hosted Checkout functionality, where Digital Wallets are enabled via a single integration flow across both web and mobile domains. This strategy lowers technical complexity, speeds up time-to-market and increases merchant satisfaction, especially among small and mid-size merchants that reap the most benefits from ready-to-deploy payment solutions.

With this digital wallet integration, QNB is leading the simplifying of digital wallet acceptance for merchants via a scalable, seamless and fully integrated solution. The solution ensures that all new e-commerce merchants onboarded via Hosted Checkout will be enabled at once to accept digital wallets automatically. All existing QNB Hosted Checkout merchants will also be upgraded to accept digital wallets without requiring any development time and expense.

Mr. Adel Ali Al Malki, Senior Executive Vice President, Group Retail Banking at QNB, commented: “QNB continues to lead in Cards and Payments by offering best-in-class payment solutions to our merchant community. Through this unified integration, we are delivering not only an advanced technology, but also a more robust and secure next-generation digital commerce. As the industry leader in acquiring business, QNB is committed to further scaling digital acceptance with relevance and simplicity. We continue empowering every QNB merchant to deliver seamless, secure and modern payment experiences to their customers.”

Erdem Cakar, Country Manager for Qatar and Kuwait at Mastercard, said: “At Mastercard, we’re committed to transforming the way businesses and consumers engage with digital payments. Our collaboration with QNB to introduce the GCC’s first unified digital wallet integration demonstrates our focus on empowering merchants with cutting-edge, streamlined payment solutions. This milestone advances our vision of building a thriving, inclusive digital economy that delivers enhanced convenience and security for everyone.”

As Qatar’s largest acquirer, QNB has demonstrated its leadership in payment innovations through key initiatives across major industry sectors. 

The post QNB Pioneers GCC Digital Wallet Integration with Mastercard first appeared on World Finance Informs.

Debit card is one form of electronic payment media that draws directly on a consumer’s checking account upon purchase. In contrast to credit cards, which provide a line of credit, debit cards only tap available funds, and consumers have direct control over how much to spend within established limits. Debit cards are applied to in-store and internet purchases, ATM withdrawals, and contactless transactions. Security features such as PINs and EMV chip technology provide protection from fraud, while widespread acceptance across retail, service, and online channels ensures continued relevance in a fast-paced cashless economy.

Regional Insights: Global Debit Card Market Size

The performance of the debit card market differs geographically with the varying adoption of payments, infrastructure development, and regulatory policies:

• North America – Retains the leadership position, aided by sophisticated digital payment infrastructures and strong adoption levels.
• Latin America – Growing adoption, led by Brazil and Mexico, as consumers increasingly move away from cash to card payments.
• Europe – Records strong growth with region-level cashless initiatives and high debit card penetration in major economies.
• Middle East & Africa – The Emirates and South Africa are seeing debit card usage increase due to the adoption of digital payments.
• Asia-Pacific – Posts sturdy growth led by China and India, fuelled by government-supported financial inclusion initiatives.

Technological Solutions and Developments

Debit card technology is evolving to address changing customer and regulatory requirements. Contactless payment functionality, chip-and-PIN authentication, and mobile wallet inclusion are enhancing transaction security and convenience. New developments include handling transactions in real time, multi-currency functionality, and value-based card solutions. Dual-interface biometric cards are finding growing use in the banking sector for their enhanced payment authentication. However, cost of production, security concerns in contactless payments, and infrastructure upgrades at the point of sale remain hurdles to their widespread adoption. All these drawbacks will be mitigated with technology growth and improved manufacturing.

Regulatory Environment

Governments are embracing regulations to raise payment security, extend financial inclusion, and boost transparency in fees.

In the United States, interchange fee and routing regulations have been revised to facilitate competition and lower merchant costs. In the European Union, policies aimed at increasing authentication of electronic payments have been established. Canada has revised its payment industry code to protect merchants against hefty fees. In Australia, reforms aimed at reducing interchange fees are driving cost efficiency and elevated consumer debit card usage. These policies are affecting market development through consumer protection and industry growth support.

Market Segmentation and Regional Developments

Debit card market is divided based on type, end-user category, and geography. Based on type, the market is divided into plastic cards and metal cards. End-user categories include retail, hospitality, transportation, healthcare, and others. The market is geographically divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Evolution varies by region. In Indonesia, the National Payment Gateway (GPN) mandates all debit card transactions to be processed locally, making it more efficient and secure. In Germany, adoption of contactless payments has increased, particularly for public transportation. In Asia-Pacific, tap-and-go payments in such segments as grocery and pharmacy retail are increasing at a higher rate than payments that are not contactless. Regulatory efforts to lower interchange fees, as well as innovations in biometric-enabled cards, are driving adoption patterns in several regions.

Industry Trends

The debit card industry is undergoing significant transformation, shaped by shifting consumer behaviours, environmental considerations, and advancements in payment infrastructure. Increasing demand for sustainable solutions has led to the introduction of bio-sourced and recyclable debit cards, some incorporating biodegradable materials to minimise environmental impact. Contactless and tap-to-pay transactions continue to rise sharply, particularly in public transportation, quick-service retail, and healthcare facilities, driven by consumer preference for faster, touch-free payment options.

In addition, there is growing interest in biometric authentication features, such as fingerprint verification, to improve security and reduce the risk of fraud without compromising convenience. Many markets are also witnessing expanded debit card functionality, enabling cross-border usage with dynamic currency conversion and integration with mobile banking platforms. These trends point to a broader diversification of debit card applications, moving beyond traditional retail transactions toward everyday lifestyle and utility payments.

Market Outlook

The global debit card market is projected to sustain steady growth through 2032, supported by a combination of technological, regulatory, and behavioural factors. Regulatory measures aimed at reducing transaction costs and improving payment transparency are likely to encourage wider acceptance among merchants. Technological innovations, including contactless payment capabilities, biometric-enabled cards, and real-time payment integration, will further enhance the convenience and security of debit card use.

Emerging economies are expected to contribute significantly to future growth, as financial inclusion programmes expand banking access to previously underserved populations. In parallel, mature markets will likely see increased card replacement cycles, with issuers upgrading to more advanced, secure, and environmentally responsible products. Although challenges such as infrastructure investment, production costs, and evolving cybersecurity threats will persist, the combination of innovation, consumer trust, and supportive policy frameworks is set to reinforce the debit card’s role as a central pillar of global payment systems well into the next decade.

The post Global Debit Card Market: Overview and Outlook 2024–2032 first appeared on World Finance Informs.

This collaboration combines Aon’s worldwide reach, marine industry expertise, and deep understanding of client needs with Redkik’s advanced technology platform. The result is an insurance experience that is seamless, more intelligent, and more accessible, designed to align with the changing needs of freight forwarders, logistics providers, and shippers around the world.

The agreement between Aon and Redkik will initially cover the EMEA, APAC, and North American markets.  It enables API-driven integration across customer platforms and insurance markets, allowing for dynamic, on-demand coverage at the point of sale. This is powered by real-time data such as weather, theft trends and claims history.

“As supply chains grow more complex and risk exposures evolve, clients are looking for smarter, more responsive insurance solutions,” said Lee Meyrick, global transportation and logistics speciality leader and CEO of global marine for Aon. “This collaboration reflects Aon’s commitment to innovation at scale — delivering embedded insurance solutions that are agile, data-driven and aligned to the needs of a fast-moving logistics environment.”

The new platform will offer instant access to tailored annual cargo programmes as well as shipment-level coverage, supported by predictive analytics and AI-powered risk insights. This approach forms part of Aon’s broader ecosystem for risk management, helping clients improve decision-making, minimise uninsured exposures, and achieve improved claims outcomes.

“This collaboration sets a new benchmark for embedded insurance,” said Chris Kalinski, CEO of Redkik. “Together with Aon, we’re redefining how insurance is delivered, embedding it directly into logistics platforms and enhancing it with dynamic pricing and AI-driven analytics.”

The partnership between Aon and Redkik also fits into a larger pattern within Aon’s innovation agenda to modernise insurance delivery. The company has been investing in platforms such as Aon Broker Copilot and Claims Copilot, reinforcing the company’s commitment to providing differentiated value through innovation for its clients. 

The post Aon and Redkik Collaborate to Modernise Logistics Insurance first appeared on World Finance Informs.

Iraqi citizens deserve the same financial opportunities as citizens throughout other regions of the world. Qi Card is honored to create programs that provide avenues toward financial inclusion throughout Iraq.

As the first fintech provider to move Iraqi away from an unsecure, cash-based economy, Qi Card has established three critical platforms that drive financial inclusion:

Digital Financial Transactions

• With Qi Card, citizens can receive salaries and pensions, pay bills, share money with friends and family, and shop from the comfort of their own homes. These digital capabilities allow some of Iraq’s most physically vulnerable citizens to fully participate in commerce and community without jeopardizing their health or safety.
  Salifni Relief Loans
• A temporary, emergency loan program, Salifni allows qualified, ministry employees to receive 200K IQD instead of waiting for their salary through traditional methods. With Qi Card and Salifni the economy keeps moving regardless of salary delays.
  Personal Lending
• Since 2018, Qi Card has disbursed more than USD$4B in loans to more than 800,000 Iraqi citizens. Top uses for these loans include: financing a small project (55.4%), paying for medication and healthcare needs (29.9%), repaying a loan from a friend or relative (8.2%), financing a home renovation (4.3%) and financing a vacation trip (2.2%).

Qi Card products and programs are designed to create a better Iraq, driving toward a future of financial inclusion and freedom.

The Qi Card platform is built securely with the latest fintech, biometric identification and electronic payment system technologies.

About Qi Card
Qi Card is the leading electronic payment services solution in Iraq, which employs biometric identity as the cardholder verification method. Qi Card is operated and managed by International Smart Card “ISC,” the most successful partnership in the history of Iraq. With its State Bank partners, Al-Rafidain and Al-Rashed, it has completed domiciliation of more than 7M citizens with its multi-biometric payment scheme. In just over 18 months, ISC was able to disburse 3T IQD in loans to over 800,000 Iraqi citizens. To date, ISC has an ecosystem of 17,000 POS and more than 6,000 merchants using the Qi scheme to provide easy merchant funded installment and other commercial activities. ISC issues and acquires payment cards on behalf of fourteen affiliated banks in Iraq. Through its principal membership in Mastercard, ISC has now issued more than 1.8M Mastercard and is now the largest Mastercard provider in Iraq.

The post Qi Card Ignites Financial Inclusion In Iraq Through Electronic Payments And Loan Programs first appeared on World Finance Informs.

It’s planned that the project, known as Aber, will be used in financial settlements between Saudi Arabia and the UAE using blockchain and distributed ledgers technologies.

The two parties said they “share the same desire” to launch pilot projects in the use of these technologies, yet acknowledged that Aber will debut with just a few selected banks from both countries. If few technical obstacles are encountered, economic and legal requirements for future uses will be considered, they confirmed.‏

In a statement released this morning, the two central banks also pledged to establish additional means to enable local banks to deal directly with each other in conducting financial remittances.

In addition, the Emirates News Agency said: “The new coin is not for the public, rather it is a way for national and local banks to transfer money between each country.”

The post UAE and Saudi Arabia set out how they plan to use shared digital currency first appeared on World Finance Informs.

The report examines the performance of Dubai’s real estate market in 2017, covering the hospitality, residential, retail, office and industrial segments and explores how four key themes will shape Dubai’s real estate market in 2018.

Martin Cooper, Head of Development Strategy & Investment in Deloitte’s Real Estate and Construction team said: “The theme for Dubai’s real estate market in 2018 is change. Developers, operators and investors will need to navigate their way through increasing geopolitical uncertainty, the adoption of disruptive technologies and the introduction of VAT. How well they do so will determine their performance in 2018 and beyond.”

The introduction of VAT in the UAE will represent one of the biggest challenges for Dubai’s real estate market as stakeholders embed revised accounting systems and processes. In addition, the introduction of VAT on construction materials and professional services may cause cash flow and working capital pressures for some developers.

Bruce Hamilton, Partner in Deloitte’s Indirect Tax team said: “The interaction of any new law with existing commercial practice always creates some challenges. The introduction of VAT not only forces the Real Estate sector to relook at their own practices and procedures, but those of businesses in the value chain with whom they interact. VAT impacts throughout the business from procurement to marketing of sales and supplies. How well the real estate market, of whom developers are a crucial sector, come to grips with these changes could impact on the sector in 2018 and for years to come.”

Disruptive technologies such as 3D printing will become more mainstream.
Dubai will begin the journey in 2018 to become a world leader in certain disruptive technologies. 3D printing will become more mainstream in the real estate sector, as Dubai starts to deliver its 3D printing strategy and works towards the target that 25% of new buildings are 3D printed by 2025. In addition, Dubai will catch-up with other mature markets in the adoption of online retail in 2018, as Amazon and Noon gain traction.

Dubai’s development finance market is evolving and becoming more diverse.
Despite a challenging 2017, development finance for real estate projects is likely to remain available in Dubai in 2018. However, to access development finance, qualifying investors will need a track record of delivery, a well configured project and alternative sources of free cash to service project debt.

Dubai will become more connected than ever to the global economy.
Dubai will leverage its world-class infrastructure and business friendly legal and regulatory environment to remain well connected to the global economy in 2018. Although this will present a number of opportunities for Dubai, there are risks to the global economy that will need to be managed. These risks include increasing economic protectionism and geopolitical uncertainty.

The post Deloitte predicts 2018 will be a year of change for dubai’s real estate market first appeared on World Finance Informs.

The MENA region’s eCommerce marketplace is experiencing double-digit growth—with estimates at more than USD $51 billion in 2017. Despite the growth opportunity, the diversity of payments within the region presents challenges for both local and international businesses as they grapple with an increase in fraud.

HyperPay, which utilizes ACI’s UP eCommerce Payments for its cross-border capabilities and technical flexibility, has now extended that relationship with real-time fraud detection and prevention via ACI’s UP Payments Risk Management solution.

ACI’s UP Payments Risk Management solution addresses the fraud needs of merchants across sectors and verticals, with adaptive machine learning and a shared intelligence approach that leverages cross-industry knowledge and data. As a managed cloud service, insights gleaned from global fraud intelligence help expert risk analysts to define and optimize fraud strategies for payment providers and merchants.

“We have found that ACI’s Universal Payments solutions perfectly complement our local knowledge and experience, and have enabled us to develop an offering that enhances the eCommerce experience in multiple countries across the diverse region where we operate,” said Muhannad Ebwini, CEO, HyperPay.

“While the growth opportunity is considerable, we also know that merchants need to protect their revenues and secure their transactions, as well as be responsive to the evolving threat of fraud. As a long-standing partner, we fully trust ACI to deliver a sophisticated, real-time fraud detection and prevention solution that protects our customers.”

“eCommerce in the MENA region is growing rapidly, as consumers move from cash-based transactions to using cards and other online payment methods. As this shift – with mobile acting as an additional catalyst – gathers pace, retailers need to gain the trust of consumers and protect themselves against the risk of fraud across multiple channels,” said Manish Patel, general manager, Middle East, Africa and South Asia, ACI Worldwide.

“Simple integration of new payment types and acquirers has helped HyperPay to achieve 35 percent year-on-year growth, and we are confident that with ACI’s UP Payments Risk Management solution standing behind every transaction, this strong growth can continue.”

ACI ReD Shield is a fully integrated part of the UP eCommerce Payments solution, which also includes the Mobile Commerce SDK (mSDK), used by HyperPay to deliver seamless mobile checkout experiences for merchants across Jordan, Saudi Arabia, Lebanon and UAE.

About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers’ premises or through ACI’s private cloud, we provide real-time, immediate payments capabilities and enable the industry’s most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com

© Copyright ACI Worldwide, Inc. 2017.
ACI, ACI Worldwide, ACI Payment Systems, the ACI logo and all ACI product names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.

Product roadmaps are for informational purposes only and may not be incorporated into a contract or agreement. The development release and timing of future product releases remains at ACI’s sole discretion. ACI is providing the following information in accordance with ACI’s standard product communication policies. Any resulting features, functionality, and enhancements or timing of release of such features, functionality, and enhancements are at the sole discretion of ACI and may be modified without notice. All product roadmap or other similar information does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making a purchasing decision.

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