The Mastercard Center for Inclusive Growth and RISE announce significant progress of their joint wage digitalization project in Egypt, which aims to enhance financial inclusion and resilience among garment workers.

The acquisition will support Tamweely’s domestic growth strategy and boost its competitiveness and resilience, enabling it to become one of the country’s leading microfinance providers.

The partnership aims to empower Barq’s customers through Mastercard Gateway by enhancing the payment acceptance capabilities across the Kingdom of Saudi Arabia.

NOW Money’s partnerships with CBI and Network International enhance digital banking services for underbanked migrant workers.

The initiative aims to raise awareness among young people about digital literacy, enhance digital financial inclusion, and encourage youth to join the financial sector and benefit from banking products and services. 

The eight initiatives include developing financial services for all segments of society through financial technology and digital transformation, instant payments, open banking, developing the national distributor, and preparing controls regulating this field in accordance with best practices.

The digital wallet promises to reduce remittance fees for underbanked employees in the UAE by enabling transfers to up to five people for the price of one.

The collaboration targets initial improvements in UAE, Saudi Arabia, Jordan, and Bahrain with future expansion plans for North Africa. 

The European Bank for Reconstruction and Development, alongside the European Union and the Green Climate Fund, has announced a financing initiative for Jordan's microfinance institution, Tamweelcom, under the Green Economy Financing Program.

Through the partnership, the two entities will provide small businesses in South Africa, Nigeria, Kenya, and Egypt with an online platform, powered by SAVA’s Payment Transaction System, that includes digital bank accounts and accounting integration tools.