Sarhan stated that e-Finance is looking to obtain the license considering the group's extensive experience in financial technology, and added that it is studying the license’s requirements with its local and international partners
Sabry told the news outlet that the KSA is a promising market with high financial solvency and strong competition in the field of epayments
The new licensing regulations stipulate that digital banks must maintain a minimum issued and paid-up capital of EGP 2 billion ($65 million), the CBE explained
Africa accounted for 51% of total MEAPT funding, and 26% of the region’s deals, however, funding and deals fell by 54% and 50% year-on-year respectively, the report wrote
MENA’s ecommerce market was valued at $37 billion, with the report predicting that it will exceed $57 billion by 2026
