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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Thndr, launched in 2020, is regulated by the Abu Dhabi Global Market’s Financial Services Regulatory Authority (ADGM FSRA). The platform offers access to markets in the UAE, Egypt, and the United States, and provides investment in various asset classes, including stocks, gold, mutual funds, and savings products.

Thndr set up its base in the UAE capital through the Hub71 start-up platform. Hub71 is a technology and startup ecosystem based in Abu Dhabi, United Arab Emirates, designed to attract and support entrepreneurs, innovators, and investors from around the world.

According to the company, Thndr processed  over USD 13 billion in trading value and executed 12 million trades in 2024.

With a market capitalization of approximately AED 3.1 trillion (USD 844 billion), the ADX is the second largest exchange in the MENA region and ranks among the top 20 globally by market value . The exchange has reported outperforming the MSCI Emerging Markets Index over the past decade and certain global indices over the past 20 years.

Abdulla Salem Alnuaimi, Group CEO of ADX, said the inclusion of Thndr marks a significant step toward strengthening trading links across the region’s capital markets. He noted that by being the first exchange in the GCC to admit Thndr, ADX is reinforcing its commitment to financial inclusion and expanding investment opportunities within Abu Dhabi’s capital market. He added that the move sets a standard for digital innovation and cross-border cooperation in financial services, supporting Abu Dhabi’s shift toward a knowledge- and investment-driven economy.

“Retail investors deserve access to a grade-A investment service. This partnership gives our users the chance to invest in one of the region’s strongest-performing markets over the past 5, 10, and 15 years, while also opening doors to exposure within MENA through Tabadul as well as beyond MENA. As an Egyptian founder, this moment is personal, it’s about building on the historic ties between Egypt and the UAE and creating new bridges for our communities to grow, invest, and win together,” said Ahmad Hammouda, Co-founder and CEO of Thndr.

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The Series A funding round drew investments from Peak XV Partners, formerly Sequoia Capital India & SEA, and other international and regional investors.

Alaan enables businesses to manage their finances. Its services include issuing corporate cards, automating expense management and streamlining payment workflows and reconciliation.

It intends to use the fresh capital to grow its business in the region, with a specific focus on Saudi Arabia. It also looks to strengthen its UAE base, scale its teams and speed up the development of its AI-powered finance operations suite, with plans including creating AI agents to automate tasks.

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Sympl, Synapse Analytics, and Valify are some of the newly-onboarded FinTechs to the Open Finance platform – FINX. By tapping into Open Finance capabilities, they will have access to a vast array of financial data, which enables FinTechs to offer personalized services, expand their customer base, and streamline operations. Additionally, Open Finance fosters collaboration with financial institutions, promotes innovation, and opens up new revenue streams. Open Finance essentially acts as a catalyst, empowering FinTechs to reshape the financial landscape, democratize access to financial services, and drive the digital transformation of the industry.

FINX is an Open Banking/Open Finance API platform that integrates with multiple banks’ APIs through a single API gateway, designed to support the growth of fintech companies by enabling account information and payment initiation. This platform empowers fintechs with advanced tools and resources to navigate the complexities of the financial industry while providing them with a secure and regulatory-compliant environment for their operations.

“We are excited to empower Egyptian fintechs to make the leap to the wider MENA market with our API platform and help to drastically simplify financial management for individuals and corporates around the region. These partnerships will enable companies to leverage the FINX platform to fuel their growth, expand their reach beyond their home market, and develop innovative services that are efficient and compliant with global open banking standards” said Mirna Sleiman, Founder & CEO, Fintech Galaxy.

Fintech Galaxy continues to champion the growth and acceleration of fintech companies, connecting the dots between fintech startups, e-commerce merchants and retailers, financial institutions, insurance companies, investment and wealth management firms, payment service providers, tech companies, regulators, and investors on a global scale. Its innovative Open Banking/Open Finance solutions are not just reshaping the future of the financial sector but also redefining boundaries for FinTechs worldwide.

Fintech Galaxy is set to foster more partnerships and growth in the global finance ecosystem. Our focus extends beyond fintech firms to include a diverse range of clients, such as merchants and other key stakeholders. We aim to provide them with a robust, secure Open Finance platform, opening up new opportunities and empowering them to enhance their financial services worldwide.

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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 move aligns with Qatar’s Third Financial Sector Strategy and its broader FinTech strategy, underscoring the QCB’s commitment to developing and regulating the nation’s burgeoning FinTech ecosystem.

The approval highlights the QCB’s dedication to fostering the financial sector and advancing key objectives outlined in the Third Financial Sector Strategy.

It’s important to note that while this grants Paywise LLC (Dibsy) the status of an Authorized FinTech Express Sandbox Participant for regulatory activities, it does not equate to full-scale licensing approval.

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The partnership brings together QIB’s trusted banking expertise and PayLater’s fintech innovation to offer seamless, shari’a-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.

Commenting on the partnership, Mr. Tarek Fawzi, QIB’s General Manager – Wholesale Banking Group, said: “Our partnership with PayLater represents a strategic milestone in QIB’s mission to revolutionize financial services by integrating innovation and accessibility, in line with Qatar Central Bank’s strategy to support the collaboration between banks and fintech companies. We are pleased to be at the forefront of Innovation in Islamic banking thru our partnership with PayLater, which represents a strategic milestone for QIB, this is in addition to extending our support to Qatari start-ups specialized in technology in line with Qatar National Vision 2030. By joining PayLater’s fintech expertise, we are enhancing our offering with tailored, customer-centric solutions that empower individuals and create new growth opportunities for merchants, reinforcing our role as a leading digital bank.”

Mr. Mohammed Al-Delaimi, Co-founder and Managing Partner of PayLater, said:“We are delighted to start this valued partnership with Qatar Islamic Bank to introduce BNPL solutions in Qatar. 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.”

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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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