fi nancemiddleeast.comMay 2025 | 3 What does success really mean? The Merriam-Webster Dictionary defi nes it as a “favourable or desired outcome,” while Oxford calls it “the achievement of a desired result or outcome; the accomplishment of an aim or purpose.” By either defi nition, Finance Middle East’s inaugural AI Future Forum was a success. The region’s most infl uential voices in fi nance came together to explore the opportunities, risks and realities of one of today’s most transformative forces—artifi cial intelligence. From ethical AI integration to strategic deployment across fi nancial services, panellists from across sectors shared insights on how businesses can harness AI eff ectively and responsibly. If you couldn’t join us in person, don’t worry, highlights and key takeaways are now live on fi nancemiddleeast.com. A heartfelt thank you to the incredible team who poured hours of dedication and energy into making this event a success. On the topic of AI—have we been using it all along without realising it? Fintechs have been reshaping the fi nancial ecosystem since the early 2000s with breakthrough innovations. Perhaps we’ve been engaging with AI subconsciously—something worth refl ecting on. This issue is dedicated to fi ntech. We take a 360-degree view from how the sector is fostering fi nancial inclusion to the role of fi ntechs in supporting expats within the remittance ecosystem. With that, I’ll let you dive in. I hope you enjoy the magazine. Nivetha Dayanand Editor OPERATIONAL EFFICIENCY AI streamlines fi nancial operations by automating routine tasks such as transaction processing, compliance checks and customer service, reducing costs and error rates while freeing up human resources for higher-value analytical and strategic work. GOVERNANCE AND ETHICAL USE Experts emphasise the importance of transparent algorithms and strict data governance frameworks to mitigate bias, ensure accountability and maintain regulatory compliance while deploying AI across critical fi nancial services. RISK MANAGEMENT AND FRAUD DETECTION AI enhances risk assessment models by analysing large datasets in real time, identifying anomalies and detecting potential fraud patterns faster than traditional systems, enabling fi nancial institutions to respond quickly to threats and minimise losses. KEY TAKEAWAYS FROM AI FUTURE FORUM 2025 EDITOR’S LETTER FME_May2025_3_Editor Letter_13582440.indd 3FME_May2025_3_Editor Letter_13582440.indd 306/05/2025 15:0106/05/2025 15:01fi nancemiddleeast.com4 | May 2025 24 16 34 38 THE FINTECH REVOLUTION IN THE MIDDLE EAST Amid funding headwinds and shifting consumer behaviour, Gulf economies double down on fi ntech as a pillar of diversifi cation INSIDE THE GROWTH STRATEGY Ajman Bank’s CEO Mustafa Al Khalfawi on the mechanics of disciplined banking expansion MEET THE ENTREPRENEUR: MAHESH PRAJAPATI BigDot’s CEO and co-founder aims to turn the company into a unicorn within fi ve years TRADE WAR 2.0 Trump’s tariff regime is reshaping global trade—one price hike at a time 34 38 24 16 FME_May2025_4-5_Contents_13582441.indd 4FME_May2025_4-5_Contents_13582441.indd 406/05/2025 15:0206/05/2025 15:02fi nancemiddleeast.comMay 2025 | 5 46 44 50 52 FUNDING UP MENA startups secure $1.5 billion in Q1 2025 amid funding volatility VENTURE STUDIOS OFFER SAUDI BANKS A SCALABLE MODEL FOR FINTECH INNOVATION Given Saudi Arabia’s ambition to become the Middle East’s fi ntech powerhouse, banks should act now HOW FINTECH IS EMPOWERING EXPATS IN THE REMITTANCE LANDSCAPE In the UAE 63% of residents receive money through digital apps rather than traditional methods THE HIGH PRICE OF DIGITAL TRUST Visa’s Charles Lobo explains how payment risks are evolving and why trust is harder to secure 44 5052 46 FME_May2025_4-5_Contents_13582441.indd 5FME_May2025_4-5_Contents_13582441.indd 506/05/2025 15:0206/05/2025 15:02fi nancemiddleeast.com6 | May 2025 PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Web: www.itp.com Offices in Abu Dhabi, Dubai, London, Mumbai, Riyadh & Geneva ITP MEDIA GROUP CEO:Ali Akawi Managing Director: Martin Chambers Head of Business and Technology:Thomas Shambler EDITORIAL Editor:Nivetha Dayanand Tel: +971 4 444 3887 email: nivetha.dayanand@itp.com Project Editor:Heather Cichowski Tel: +971 4 444 3271 email: heather.cichowski@itp.com Associate Project Editor: Beatriz Valero Tel: +971 4 444 3413 email: beatriz.valero@itp.com Commercial Editor:Angitha Pradeep Tel: +971 4 444 3278 email: angitha.pradeep@itp.com ART Art Director:Amjad Ayche Art Editor:Tofi q Memon ADVERTISING Group Publishing Director: Natasha Pendleton Tel: +971 4 444 3248 email: natasha.pendleton@itp.com Senior Commercial Manager:Ines Ben Rejeb Tel: +971 4 444 3223 email: ines.benrejeb@itp.com PHOTOGRAPHY Senior Video Editor:Liju Cheruvathur MARKETING Head of Events: Eleanor Ashton email: eleanor.ashton@itp.com Events & Marketing Manager: Kate Galaktionova Events Manager: Beverly Stanforth Associate Events Manager: Vrinali Nazareth Associate Events Manager: Maria Trishina Events Executive: Ella Johnson Events Sales Executive: Jan Mokoala Events Sales Assistant: Joyce Salonga Events Administrative Assistant: Bobbie Rosario PRODUCTION Production Manager: Balasubramanian P Production Manager:Anand Sundaram DISTRIBUTION Distribution Coordinator:Avinash Pereira Circulation Executive:Rajesh Pillai ITP GROUP CEO:Ali Akawi CFO:Toby Jay Spencer-Davies The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. 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PUBLISHED BY AND © 2025 ITP MEDIA GROUP FZ-LLC. 6 | May 2025 To fl ip through previous editions of Finance Middle East magazine, visit fi nancemiddleeast.com/magazine/ 6 | May 2025 FME_May2025_6_Flannel_13582442.indd 6FME_May2025_6_Flannel_13582442.indd 606/05/2025 15:0306/05/2025 15:03fi nancemiddleeast.com8 | May 2025 ONLINE The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) facilitated the launch of 3,461 new Emirati-owned businesses in 2024, up 17.8% from the previous year. The deal comes amid ongoing consolidation in the aviation services sector as companies look to scale operations and secure long-term contracts with airlines facing rising operational and logistics demands. Gridora will operate under Modon Holding and function across two core business lines: Infrastructure Projects and Infrastructure Investments. These lines refl ect the asset management and project origination capabilities of the founding entities. Lebanon’s eff orts come as the IMF has called for a comprehensive approach to debt restructuring, currency unifi cation and banking sector reform. WHAT’S TRENDING ONLINE w w w.f inancemiddleeast .com Record growth in Emirati businesses Menzies Aviation acquires G2 ADQ, IHC and Modon launch Gridora Lebanon pledges full depositor repayment WHAT OUR READERS THINK... Capital of capitalInside the GCC’s booming luxury economy “A proud moment for ADGM as our Chief of Market Development, Arvind Ramamurthy, is featured in Finance Middle East. - ADGM A must-read from Finance Middle East for entrepreneurs eyeing high-growth, high-impact opportunities in the GCC. – Meydan Free Zone FME_May2025_8-9_Online DPS_13595768.indd 8FME_May2025_8-9_Online DPS_13595768.indd 806/05/2025 15:0406/05/2025 15:04fi nancemiddleeast.comApril 2025 | 9 TECHNOLOGY The fi nancial trading landscape has undergone signifi cant transformations driven by technological advancements, evolving trader demographics and dynamic macroeconomic conditions. To explore these changes, we sat down with Joseph Dahrieh, Managing Director of Tickmill MENA, who provided valuable insights into the modern trader’s profi le. “The modern trader is more informed, tech-savvy and adaptable than ever before,” says Dahrieh. He noted that with easy access to market data, AI tools and educational resources, traders can analyse trends quickly and make faster decisions. JOSEPH DAHRIEH: “SOME TRADERS TAKE BIG RISKS AFTER A FEW WINS, WHILE OTHERS PANIC AND EXIT TOO EARLY” fi nancemiddleeast.comMay 2025 | 9 ONLINE FME_May2025_8-9_Online DPS_13595768.indd 9FME_May2025_8-9_Online DPS_13595768.indd 906/05/2025 15:0406/05/2025 15:04Next >