The bank says it will implement Microsoft Azure as one of its main cloud platforms for “some of its most strategic systems, functions, and data workloads”. 

The addition of Microsoft Azure is expected to provide “real-time data analytics, faster deployment of new services, and significant operational efficiencies”, according to Maybank.

Also included in the partnership deal is Microsoft 365 Copilot, which Maybank says will be rolled out to all 44,000 employees to provide them with “expansive AI-powered capabilities”. The bank adds that it will also utilise Microsoft’s security tools to “enhance its existing cybersecurity posture” with an emphasis on data protection. 

Maybank says the pair will also work to establish a Centre of Excellence for both companies to collaborate on developing new cloud and AI-powered services and to nurture “in-house talents in these areas”. 

Maybank Islamic Bhd, the Islamic banking arm of the Maybank Group to deliver a suite of new sharia-compliant digital products hosted on Amazon Web Services‘ (AWS) cloud infrastructure.

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The deal is expected to close in Q4 2025, subject to regulatory approval and other customary closing conditions.

Initially founded as Layer2 Financial by CEO Bhanu Kohli and CTO Tarun Mistry in 2021, Rail operates a platform that connects stablecoins with traditional fiat currency systems, enabling cost-effective cross-border payments through a single API. The infrastructure is said to be on track to process around 10% of all global B2B stablecoin payments this year, with use cases spanning accounts payable, accounts receivable, and treasury management. 

Rail maintains a network of 12+ banking partners to ensure redundancy, and also provides virtual IBANs and named accounts that allow businesses to transact with digital assets without needing dedicated crypto bank accounts or wallets. The company, based in Toronto, is backed by the likes of Galaxy Ventures and Accomplice.

With the technology, Ripple says it plans to offer “the most comprehensive stablecoin payments solution available in the market”. This combined solution is to support USD pay-ins and pay-outs across key corridors, new capabilities for third-party payments and internal treasury flows, and digital asset liquidity across various assets.

Ripple has been working to bridge the gap between traditional and decentralized finance (DeFi). Including Rail, the San Francisco-headquartered crypto and blockchain solutions firm says it has now spent over $3 billion on acquisitions and “strategic opportunities” to date, adding that it “remains committed to actively expanding through M&A”.

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CEIC returned to support this latest round, which was led by Tether and IDG Capital, with added support from Primal Capital, 1kx, Protein Capital, KX VC, 3KVC, Genting Ventures, Fuel Ventures, and Umami Capital.

The Miami-headquartered company will use the funds to scale its platform, which combines fiat on and off ramps with virtual bank accounts, real-time liquidity routing, and full-stack compliance tools.

The Transak platform is currently used by over 450 applications to offer fiat to stablecoin conversion through local payment methods, bank transfers, cards, and virtual IBANs, and has processed over $2 billion in transaction volume to date. Other core services include a checkout function for purchasing non-fungible tokens (NFTs) directly with fiat currency, as well as multi-level know-your-customer (KYC) solutions.

Web3 onboarding was the initial concept behind Transak, which was founded by CEO Sami Start and CTO Yeshu Agarwal in 2019. The company went on to launch its on-ramp solution in February the following year.

“Stablecoins are no longer just a crypto asset. They are now the rails for global value transfer,” Start comments, stating that a scaled application requires “real infrastructure” over just liquidity. “That’s exactly what we’ve built, and this round helps us scale it globally,” he continues.

Transak currently holds regulatory approvals in the US, UK, EU, Canada, Australia and India, and states that an expansion into the Middle East, Latin America, and Southeast Asia is “actively underway”.

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The partnership will benefit 11 million Qi cardholders in Iraq by integrating their everyday spend to Turkish Airlines’ Miles&Smiles rewards program. The new agreement will enrich their travel experience.

With 31 bank partnerships in more than 50 countries, Miles&Smiles program continues to be part of over 20 million members’ lifestyles. Qi Card aims to give them access to Qi Card’s trusted payment network, backed by 17 years of innovation and service excellence.

Member Benefits

With the new debit card linked to the Qi Card payment system, Iraqi consumers will be able to earn Miles&Smiles rewards directly from their daily spending while enjoying a secure and convenient payment experience both across Iraq and at millions of merchants and ATMs worldwide.

The benefits include point-to-mile conversion at a fixed rate, use of miles across more than 353 destinations in 131 countries through Turkish Airlines and its Star Alliance partners. In addition, customers will avail privileged services such as access to business lounges, seat upgrades, fast-track services, and exclusive bonus mile offers.

Strategic Partnership

This strategic partnership combines Qi Card’s deep understanding and expertise of the Iraqi market. Turkish Airlines’ global aviation excellence will deliver an integrated solution that blends financial convenience with world-class travel benefits.

“This partnership reflects our shared vision of enriching everyday experiences through smarter financial tools and aspirational travel rewards,” said Bahaa Abdul Hadi, Chairman of International Smart Card (Qi Card), and added: “We are excited to offer Iraqis a globally accepted, loyalty-driven product that rewards them for how they spend.”

Miles&Smiles Qi Card Mastercard is designed to meet the lifestyle and travel choices of Iraqi consumers. The card is fully integrated with Qi Card’s nationwide infrastructure and mobile platform, and can be used globally wherever Mastercard is accepted.

“This co-branded card shows our commitment to the Iraqi market and strengthens our presence in the region by transforming everyday purchases into Miles&Smiles advantages that will pave the way for more memorable experiences for Iraqis,” said Ahmet Olmuştur, Chief Commercial Officer at Turkish Airlines.

The card will be available soon through Qi Card’s national distribution network, with onboarding and customer service support provided round the clock.

Middle East Expansion

Following its landmark partnership with Turkish Airlines, Qi Card anticipates strong interest from other airlines based in Iraq and in the Middle East seeking similar collaborations to expand horizons and give a better experience for Qi cardholders.

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The collaboration aligns with Egypt’s Vision 2030 to create an integrated and sustainable digital economy, reflecting Fawry’s strategy to boost digital transformation and promote financial inclusion in the fintech sector.

Meanwhile, the partnership aims to offer seamless, secure, and more convenient services that meet the evolving needs of customers across different segments.

The two companies will join forces to enable merchants to leverage FORSA’s services, streamlining their daily operations and expanding their customer base through Fawry’s extensive network.

Bassem Lotfy, Head of Business Development at Fawry, said: “At Fawry, we are keen to expand our operations by collaborating with many flexible financial entities like FORSA, which reflects our commitment to providing diverse and secure digital solutions that support both merchants and customers.”

“These partnerships create added value for Fawry network and contribute to our main goal of enhancing the end-user experience,” Lotfy added.

For his part, Gasser Darwish, Chief Commercial Officer at FORSA, commented: “Our partnership with Fawry will play a pivotal role in reaching a larger segment of merchants and customers. We recognize the necessity and importance of integrating financing services at the POS, and we are committed to continuing these efforts in the coming period to simplify the purchase experience for customers.”

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This partnership introduces, for the first time, a Shariah-compliant BNPL solution by a Qatari fintech, enabling customers to make purchases through flexible instalment plans, promoting financial inclusion and supporting the growth of Qatar’s digital economy.

The partnership brings together QIB’s trusted banking expertise and PayLater’s fintech innovation to offer seamless, Shariah-compliant financial solutions tailored to the evolving needs of consumers and merchants in Qatar.

Aligned with QIB’s sustainability agenda and the Qatar Central Bank’s (QCB) strategy to encourage collaboration between banks and fintech companies, the collaboration reinforces QIB’s commitment to expanding digital financial services while supporting the local fintech ecosystem.

“Our partnership with PayLater represents a strategic milestone in QIB’s mission to revolutionise financial services by integrating innovation and accessibility, in line with the QCB’s strategy to support the collaboration between banks and fintech companies,” said Tarek Fawzi, QIB’s general manager – Wholesale Banking Group.

By joining PayLater’s fintech expertise, QIB is enhancing its offering with tailored, customer-centric solutions that empower individuals and create new growth opportunities for merchants, reinforcing our role as a leading digital bank, he said.

Mohammed al-Delaimi, co-founder and managing partner of PayLater, said these solutions are transforming how consumers manage their finances while offering merchants new avenues to grow their business.

“Our partnership with QIB highlights the potential of collaborations between fintechs and banks to create customer-centric solutions that redefine the financial landscape in Qatar,” he said.

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This collaboration marks a significant milestone in the region’s digital transformation journey, as both entities join forces to offer innovative solutions through Ooredoo’s wallet platform.

Building on their existing strategic alliance, which to date has focused on the market leading Ooredoo Money proposition in Qatar, QNB will serve as the settlement bank for Ooredoo Fintech’s mobile wallet in Oman, leveraging its extensive expertise in banking and finance to facilitate seamless transactions and enhance its user experience. The partnership will empower consumers in Oman to enjoy a wide range of financial services directly from their mobile devices, including mobile payments, fund transfers, bill payments, and more.

Commenting on the partnership, Khalid Ahmed Al Sada, Senior Executive Vice President – Group Corporate and Institutional Banking, stated, “We are excited to collaborate with Ooredoo Fintech to bring cutting-edge fintech solutions to Oman. This partnership aligns with our commitment to supporting innovation in the countries we operate. By leveraging our robust banking infrastructure and Ooredoo’s expansive reach, we aim to empower individuals and businesses with convenient, secure, and accessible financial services.”

Similarly, Michelangelo Giacco, CEO of Ooredoo Fintech, expressed his enthusiasm for the collaboration, saying, “We are dedicated to leveraging technology to enrich the lives of our customers. This partnership with QNB represents a significant step towards realizing this vision, as we combine our expertise to deliver innovative fintech solutions tailored to the needs of the Omani market. Together, we aim to redefine the future of digital wallets and drive financial inclusion across the Sultanate.”

The partnership between QNB and Ooredoo Fintech underscores their shared commitment to fostering financial inclusion and driving digital innovation in Oman.

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The signing ceremony was attended by Emre Yalcin, Head of Retail Banking at UAB, Helal Tariq Lootah, and Alexandre Soued Co-Founders and Co-CEOs of Lune, along with senior executives from both organizations.

Leveraging Lune’s technology, UAB will enrich and transform raw transaction data into meaningful financial insights through a user-friendly interface—empowering customers with enhanced transparency and informed financial decision-making. The solution will also drive intelligent digital engagement, including personalized recommendations, contextual offers, and advanced financial planning features—all delivered through conversational digital interfaces.

Emre Yalcin, Head of Retail Banking at United Arab Bank, commented: “While the underlying technologies have existed for some time, we at UAB were not entirely convinced about the maturity of the outcomes—until now. Partnering with Lune, a homegrown fintech with deep expertise in the UAE’s payment ecosystem and cutting-edge technologies, gives us confidence in delivering the enriched digital experience our customers expect. This partnership enables us to offer context-rich financial insights, unlocking new opportunities for customer engagement, operational efficiency, and long-term growth.”

Helal Tariq Lootah, Co-CEO and Co-Founder of Lune, said: “We’re delighted to be working with United Arab Bank. This collaboration reflects our shared commitment to innovation, customer empowerment, and building a stronger, data-driven financial future. Together, we look forward to delivering meaningful impact and value to the market.”

The partnership reflects UAB’s ongoing commitment to digital transformation and reaffirms its strategic focus on leveraging fintech collaboration to deliver superior customer experiences.

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The Hakbah app and digital platform was designed to make it fast, easy and safe for residents to participate in and benefit from Jameya group savings programs, a traditional and culturally important practice that helps individuals and families increase savings habits as well as answer short special needs.

Hakbah, which is permitted by the Saudi Central Bank (SAMA) and operates within the Regulatory Sandbox, has surpassed more than 1.3 million registered users with more than 70 percent coming from a youth population that needs assistance building positive savings habits. Hakbah customers have reported using the fintech app to enable them to save for life-changing needs for themselves and their families that they previously couldn’t afford. This includes things like paying for critical medical care, fertility treatments to start a family, wedding expenses, travel expense, university tuition and small projects.

Naif AbuSaida, Hakbah Founder, said that bringing the social savings concept into the AI and digital age creates a far more practical and applicable new social savings culture while preserving the core purpose and cultural heritage of the social savings practice. He said that while supporting short financial needs, Hakbah helps build new savings habits among its users that have long-term benefit for them and their families while contributing to the financial stability of communities across the country.

Naif AbuSaida said: “We greatly appreciate that such a highly respected international business organization like CNBC is recognizing the unique model we’ve created that marries the power of social savings and the Jameya concept to make a real and lasting impact on people’s lives. What’s equally important is that this is a validation of the Saudi Arabia and SAMA strategy to promote the creation of an ecosystem across the national financial community that encourages collaboration and partnership to help increase savings across all segments of the population as a high priority strategic goal in alignment with Saudi Vision 2030.”

Hakbah has established a range of strategic partnerships under this national vision with organizations including Riyad Bank, Fransi Bank, ANB, Alrajhi Bank, flynas and Tawuniya, the country’s leading national insurance company that supports Hakbah users by providing life insurance throughout the term of their Jameya.

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The event gathered senior institutional investors, financial market stakeholders, and representatives from both firms to explore the transformative potential of fintech-originated private credit as a new frontier in the Saudi investment landscape.

Commenting on the event, Ahmed Saud Ghouth, CEO of Alkhabeer Capital, stated: “Saudi Arabia’s investment landscape is undergoing rapid transformation, driven by digitalization, innovation, and a push for diversified capital formation. Our partnership with Fasanara Capital reflects a shared ambition to pioneer new asset classes that respond to the evolving needs of investors and align with the objectives of Vision 2030. The signing of this MoU is a key milestone in our joint mission to unlock fintech private credit opportunities in the Kingdom.”

Francesco Filia, Founder & Chief Executive Officer, Fasanara Capital said: “We are excited to partner with Alkhabeer Capital to introduce fintech-originated private credit to the Saudi market. This collaboration represents a significant step toward building a more inclusive and technologically advanced financial ecosystem. By leveraging data-driven lending models and next-generation credit infrastructure, we aim to deliver scalable, transparent, and risk-conscious solutions that address the growing demand for alternative fixed-income strategies in the Kingdom”.

The event featured insights into global trends in alternative credit markets, showcasing how fintech is reshaping private credit through more efficient, scalable, and transparent investment models. Presentations highlighted the structure and investment mechanics of fintech-originated credit and how these models can deliver compelling risk-adjusted returns while meeting demand for diversified, income-generating strategies.

Alkhabeer Capital is one of the leading capital market institutions in Saudi Arabia, authorized by the Capital Market Authority under License No. 07074-37 and headquartered in Jeddah, Kingdom of Saudi Arabia, with a branch in Riyadh. The Company provides innovative world-class investment products and solutions in private equity, financial markets, and real estate investments, in addition to offering investment banking and brokerage services.

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