Narendra Tiwari

As per Rohini Nilekani: " We cannot be mere #consumers of good #governance, we must be #participants; we must be #cocreators."  Sharing my latest interview at Al Bayan Magazine issue 631 #egovernance #ESG #digitalera #arabworld #participation #economy

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🌟 Credit Demand in the UAE Remains Strong in Q2 2024! 🌟 According to the latest Credit Sentiment Survey, the UAE's credit market is showing robust growth across both business and personal lending sectors. This trend is fueled by a positive economic outlook, strong investments, and improving asset quality. 🔑 Key Highlights: Strong Credit Demand: Business loans and personal loans, especially housing loans and credit cards, are seeing increased demand. Business Lending Boom: Lending conditions for businesses are improving, with a higher appetite for loans driven by strong demand. Personal Loans Stay Resilient: Despite some softening, personal lending remains solid, with housing loans and credit cards leading the way. Economic Growth as a Driver: The rise in loan demand is powered by factors such as economic outlook, working capital needs, and government expenditure. Financial Institutions' Optimism: Banks and financial institutions are eager to lend, supported by the improving economic environment and asset quality. As we look forward to Q3 2024, the survey indicates that credit demand and supply will remain strong. 📈 Central Bank of The UAE 👏 #UAEeconomy #BusinessLending #PersonalLoans #FinancialOutlook #CreditSentiment #EconomicGrowth #LendingTrends

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In the rapidly evolving landscape of the GCC, public-private partnerships (#PPP) are emerging as a vital mechanism for financing and delivering large-scale infrastructure projects. Deloitte's latest article delves into the pivotal role that PPPs play in transforming ambitious visions into reality.

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Qatar Central Bank has released a new Regulatory Framework for Digital Banks. This policy sets the stage for a transformative era in the financial sector in #Qatar. For companies in the tech industry, this is a golden opportunity to drive innovation and collaborate with digital-first banks to revolutionise banking experiences in Qatar. Here’s why this matters to you: 💡 #AI Integration: The framework encourages the adoption of AI for personalised banking services, fraud detection, and operational efficiency. Companies specialising in AI have the chance to create impactful solutions tailored for digital banking ecosystems. 🔗 #Blockchain Potential: With a focus on secure and efficient transactions, blockchain technology is poised to play a critical role in digital banking infrastructure. Startups and enterprises in the blockchain space can collaborate to build solutions that redefine trust and transparency. 🎯 Collaborative Opportunities: The framework promotes partnerships between digital banks and fintechs, opening doors for innovators to co-create cutting-edge financial products and services. 🌍 Expanding Financial Inclusion: Digital banks are expected to enhance accessibility and affordability for underserved populations, creating demand for scalable, tech-driven solutions. This regulation is not just a guide for banks; it’s a call to action for the tech ecosystem to innovate, collaborate, and lead the way in shaping the future of finance.

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Central Bank of UAE launches 'Sanadak', UAE's first Financial & Insurance Ombudsman Reported by Sucheta Sarkar Read More Here-https://lnkd.in/gtZ6Gp9y #CBUAE #CentralBankofUAE #FinancialandInsuranceOmbudsman #consumerprotection #MENAregion #Ombudsman #Sanadak #UAE #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

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Banks have started expanding their base in Kerala in our order capture a sizeable pie of the NRI (Non Residents Indian )Deposits . It is common knowledge that from south (more specifically Kerala) at least one member of the family or head of the family is working in the Middle East Region and remitting foreign exchange back to India. It is also pertinent to note that Banks have not been able to expand credit growth in a way that they would have liked because of lack of deposit mobilisation since most of the retail investors have started moving to the stock markets. RBI also has been prodding the banks to focus on the core business of loans rather than on Insurance and other financial services. Hence the Run to Kerala ! #banks #banking #deposits #loans #corebusiness #retailinvestors #stockmarkets #creditgrowth #corebanking https://lnkd.in/dr8QbvYS

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As an expat in Qatar, an SME entrepreneur, and a consultant who has helped launched few digital banks, I want to share some thoughts on why Qatar needs a digital bank. Last week, Qatar Central Bank (QCB) issued a regulatory framework to enable the launch of digital banks in Qatar. This is an exciting step forward, and am sharing why I believe it’s so important: Why Qatar Needs a Digital Bank As an expat living in Qatar The thought of visiting a bank often feels like a nightmare: - Taking a token, waiting long hours, and making repeated trips for even simple tasks. - Banking feels reactive, not proactive. This isn’t unique to Qatar but is common across much of the GCC. - There is no “aha” moment—banking is a need-based interaction. It feels like: “I need it; they have it.” As an SME entrepreneur - Opening a bank account can take weeks, requiring a lots of documentation and multiple visits to the bank. - High minimum balance requirements make it difficult for startups to access basic banking services. - Conservative credit and lending policies leave many SMEs struggling to get the support they need to grow. How Digital Banks Can Help A fully digital bank could transform banking in Qatar by: - Providing proactive banking experiences powered by new-age technology. - Offering seamless, paperless services that create “aha” moments for customers. - Reducing the barriers SMEs face with faster account setups, lower minimum balances, and innovative lending solutions. QCB’s Framework for Digital Banks - Paid-up capital: QAR 100 million. - Launch in phases: Encouraging a staged rollout. - total size of assets shouldn’t exceed QAR 4 Bn in phase 1 - Cumulative deposit per wholesale customer QAR 1 Mn at any point of time, 250k limits for retail customer - Open to consortiums. Foreign company is eligible to apply if they partner with local company - Focus on financial inclusion Why It Makes Sense to Apply Globally, telcos are well-positioned to enter the digital banking space due to their: - Extensive customer base and data. - Strong distribution networks. From a P&L perspective, digital banks offer: - Lower operational costs with no physical branches. - Faster break-even timelines due to their lean models. What Needs to Be Done - Viability Assessment and Market Landscape - Don’t just copy-paste models from other countries. Understand the unique needs of Qatar. As I like to say, “If you’re building for Qatar, first smell the spices of Souq Waqif.” - Clear Value Proposition - Strong Tech Stack - Fraud, AML & Compliance - Go-to-Market Strategy - Leverage partnerships I appreciate the hard work by QCB in releasing this framework.

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Digital Payment Trends in Himalayan States 🏔️💳 To read more : Assessment of Digital Financial Inclusion and Literacy in the Himalayan States of India [https://lnkd.in/g7xJ6mj4] This visual showcases the popularity of different digital payment methods across various Himalayan states: UPI: Dominates in Sikkim, with significant usage in West Bengal and Jammu & Kashmir. RuPay: Peaks in Uttarakhand and sees varying levels of adoption across other states. IMPS: Remains consistently low across all states, generally under 20%. AEPS: Used minimally, usually under 10%. NETC: Moderately popular, with lower usage in Assam and West Bengal. This data helps us understand how digital payment systems are being adopted in different regions, reflecting local preferences and infrastructure effectiveness. #FinancialLiteracy #Research #MeasurementError #Reliability #CronbachAlpha #FinancialAssessment #DataAnalysis #Methodology #TestDesign

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UAE fintech Ziina زينة becomes first venture backed startup to secure a SVF license from Central Bank of The UAE #Ziina, a #fintech company in the UAE, has achieved a significant milestone by securing the Stored Value Facility (SVF) license from the UAE Central Bank. This achievement not only underscores Ziina’s commitment to compliance and security but also positions it as one of the few privately-owned fintech companies in the UAE with such authorization. The SVF license enables Ziina to expand its range of specialized financial services, including business and consumer accounts, peer-to-peer payments, bill pay, QR codes for remote transactions, and prepaid card services. Additionally, Ziina will become a principal member of Visa and Mastercard networks, offering Banking Identification Number (BIN) sponsorships, thereby supporting over 557,000 businesses and enhancing operational efficiency. This development aligns with the UAE Central Bank’s strategy to foster innovation, enhance financial inclusion, and support economic growth. The UAE aims to become a global leader in the digital economy, with SMEs playing a critical role. SMEs account for 94 percent of all companies in the UAE and contribute 63.5 percent to the non-oil GDP. However, they often face cash flow challenges due to delayed payments. Ziina’s services aim to address these challenges, providing businesses with the tools necessary for growth and efficiency. The move towards a cashless society in the UAE is accelerating, with 60% of consumers planning to go cashless by 2024. The digital payments market in the MENA region is projected to reach $9 billion by 2028, driven by convenience and accessibility. Trends indicate a strong preference for credit cards and digital wallets, especially for online transactions, and the rising popularity of Buy Now Pay Later options aligns with the expanding e-commerce sector. CEO and Co-Founder Faisal Toukan highlighted the importance of the license, stating, “Securing this license is a monumental step for us, reinforcing our commitment to the highest standards of compliance and security. The UAE’s Central Bank has outlined a bold vision for financial technology, and we are thrilled to work closely with their team to support this vision. This milestone supports the UAE’s Digital Economy Strategy, which aims to double the digital economy’s contribution to GDP from 9.7% in 2022 to 19.4% within the next decade. Ziina’s growth is propelled by the UAE’s robust infrastructure and dynamic entrepreneurial environment. The article on Abu Dhabi SME Hub in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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Adverse Media Screening in the UAE: Key Insights In today’s global banking landscape, staying compliant with Anti-Money Laundering regulations is paramount, especially in regions like the United Arab Emirates, where rapid economic growth has made it a hub for international trade and finance. Adverse Media Screening (AMS) has become increasingly critical for banks operating in the UAE, given the country’s commitment to combating financial crime and maintaining its reputation as a secure financial hub. What are some of the challenges of Adverse Media Screening in the UAE? 1. Volume of Data - with the sheer volume of data and news sources, screening for adverse media can be overwhelming. 2. Manual screening - it is an inefficient approach in a high-stakes environment. 3. False Positives - leads to unnecessary delays and increased operational costs as compliance teams have to sift through vast amounts of data to verify findings. 4. Language and Cultural Barriers - a multicultural population and media landscape results in adverse media being published in various languages and reflecting different cultural contexts. Suggestions for Effective Adverse Media Screening in the UAE: 1. Leverage AI-Driven Solutions: Implementing AI-powered screening tools can significantly reduce manual efforts, improve accuracy, and minimise false positives. These solutions can process large datasets from diverse sources, ensuring a more comprehensive analysis of adverse media. 2. Ongoing Monitoring: It’s not enough to screen clients during the onboarding process, it is crucial to stay updated on any adverse media reports that could emerge after the client relationship has begun. 3. Customising Risk Parameters: Banks should tailor their AMS systems to align with their risk appetite and regulatory requirements. Different institutions may face varying levels of risk depending on their client base, so the AMS system should be flexible enough to adjust to these needs. 4. Training and Awareness: Proper training ensures that the teams can act quickly and accurately when potential risks are identified. 5. Collaboration with Regulators: Staying in close communication with regulatory authorities helps banks stay ahead of emerging threats and compliant with the latest regulations. In an increasingly complex global financial environment, AMS is not just a regulatory necessity for banks in the UAE, but a crucial element of robust risk management and long term success. As the UAE strengthens its position as a global financial hub, adopting AI and continuous monitoring solutions will be key to safeguarding their reputations, and maintaining trust with both regulators and clients. Banks that embrace these innovations will set a higher standard for security and ethical banking practices. #AdverseMedia #AML #UAE #FinancialCrime #Compliance

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Careem Pay also introduced a remittance feature enabling direct transfers from the UAE to businesses abroad, starting with India. Read here: https://lnkd.in/gReSAsN8 -with Abhishek Tripathi #fintech #remittance #payments #moneytransfer

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3 broad take-aways from Dubai Fintech Summit: 1) Inflation, Jobs, Immigration, interest-rate, policy are to watch out for. Middle East is currently well-positioned on all fronts. 2) Given the interconnectedness with all other industries, the finance industry will be most agile in the coming years (challenging as well as exciting times ahead) 3) AI, AI & AI

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Can a digital banking brand ecosystem enrich a consumer's lifestyle? Liv Digital Bank by Emirates NBD is rewriting the rules of digital banking with a bold vision: to transform banking into a lifestyle-driven, immersive experience. Through innovative products like Liv X, Live Lite and the cutting-edge Liv X Spatial Banking, they’re reimagining what it means to bank in the fast-paced, sophisticated world of the MENAT region. To bring this bold vision to reality, Liv Bank needed a partner who could think outside the box. That’s where UXDA | Financial UX Design exclusive agency stepped in, partnering with Liv Bank to craft three revolutionary solutions that redefine digital banking: 🟡 Liv X app More than a banking app, it’s a lifestyle companion that integrates financial management with user’s personal goals, making banking an effortless part of their everyday life. 🟡 Liv Lite app A playful, intuitive platform for kids, teaching financial literacy through engaging and interactive tools that help build lifelong financial skills. 🟡 Liv X Spatial Banking A glimpse into the future, this immersive banking experience—powered by the Apple Vision Pro—was unveiled at the Dubai FinTech Summit 2024. It shows how financial management will change in the near future. 👉🏼 What if we design a bank like a fashion magazine? Discover the full Liv Bank UX case study and see how lifestyle-driven banking is changing the game: https://lnkd.in/dKXsdwuY Thank you, Liv Digital Bank and Emirates NBD, for your groundbreaking vision and enduring partnership. Your innovative approach stands as a benchmark in the industry, showcasing the critical role of exceptional user service and delivering unparalleled experiences. 💛 #UXDA #EmiratesNBD #LivBank #LivX #LivLite #BankingInnovation #DigitalBanking #UXDesign #LifestyleBanking #SpatialBanking #BankingApp #Banking #Fintech #FinancialServices #UXDesign #Design

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🔍 𝗨𝗻𝗶𝘁𝗲𝗱 𝗔𝗿𝗮𝗯 𝗘𝗺𝗶𝗿𝗮𝘁𝗲𝘀 𝗣𝗿𝗼𝗹𝗶𝗳𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗥𝗶𝘀𝗸 𝗔𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁 This work gives a comprehensive evaluation of proliferation financing (PF) risks, aligned with Financial Action Task Force (FATF) guidelines. 🌍The Proliferation Financing National Risk Assessment (PFNRA) is critical for understanding the PF landscape in the UAE, which has a strategic geographic location and serves as a major trade hub. This work identifies threats and vulnerabilities that could be exploited for proliferation financing activities, guiding effective policy responses. ⚠️Key Threats UAE's strategic geographical location increases its vulnerability to proliferation financing activities such as :  • Trade-Based Financing: Suspicious trade transactions, involving luxury goods and oil. • Front Companies: The establishment of front companies for illicit purposes poses a significant risk. 🔒Vulnerabilities in the UAE • Geographic Factors: The UAE's role as a major trade hub heightens the risk of concealing illicit activities. • Corporate Structure: Ease of company formation can lead to transparency issues, complicating ownership tracing. • Financial System Exposure: High transaction volumes can obscure illicit activities for financial institutions (FIs). • Unregulated money transfer services present significant risks.  🛡️ However, despite several challenges, UAE has strong commitment to combat proliferation financing through new laws and decrees. The National Economic Registrar (NER) aims to enhance corporate transparency; Also, the financial institutions are required to implement robust Know Your Customer (KYC) and Customer Due Diligence (CDD) measures.   Overall, this work serves as a vital resource for understanding the complexities of proliferation financing in the UAE, highlighting the need for ongoing vigilance and collaboration to safeguard the financial systems. #ProliferationFinancing #RiskAssessment #FATF #TradeFinance #KYC #Compliance

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UAE banks Emirates NBD and Mashreq have taken stakes in NewBridge Fintech Solutions, which owns LoanBook specializing in syndicated loans and private credit. In recent times, private credit operations have gained significant momentum, as borrowers look to tap critical funds from outside of banks and traditional lenders. Source: Gulf News #FinTech #UAE #Market_Development #GTM https://lnkd.in/e24-698F

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On December 18, SEBI approved major amendments affecting SMEs and merchant bankers. The key reforms include stricter criteria for SME IPOs and enhanced regulations for SME companies seeking to raise capital through these offerings. Here’s a summary of the changes #SME #IPO #fundraising #BSE #NSE #CapitalMarkets #Identize Sanchi Sargiya Pruthvi Vyas

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