FINTECH-

Tamara receives restricted license from CBUAE: Payments fintech platform Tamara secured a restricted finance license from the Central Bank of the UAE (CBUAE), according to a press release. With the license, the fintech unicorn can roll out its credit and payment services in the UAE, expanding its footprint in the country.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Background: The fintech — which is Saudi Arabia’s first unicorn — already partnered with Mastercard earlier this year to launch a shariah-compliant split payment card, as well as with Dubai’s Finance Department to collaborate on biometric payments.

M&A WATCH

Qashio enters Saudi market with SanadCash acquisition: Dubai-based B2B spend management platform Qashio acquired Saudi fintech SanadCash for an undisclosed sum, marking its entry into the Saudi market, according to a press release. The two firms will build a “unified platform that simplifies how companies manage spending” and that enhances financial transparency, the statement said.

REMEMBER- Qashio raised USD 19.8 mn in May to finance its Saudi expansion and scale its B2B fintech loyalty program. The round — led by Rocketship VC with participation from ABN Ventures and regional investors — supports regulatory compliance and growth across Mena, Europe, and the UK.

Next step, scaling up operations: Over the next six months Qashio plans to hire over 120 new employees across key markets, including KSA, Europe, the UK, and the UAE, to support its expansion and product rollout.

REGULATION WATCH-

The Municipal and Rural Affairs and Housing Ministry approved new rules forusing public sidewalks for commercial purposes (pdf), it said in a statement on Sunday. The updated regulations aim to better organize how cafes, restaurants, and shops use space outside their businesses while keeping sidewalks clear and safe for pedestrians.

The move seeks to balance business needs with public access, ensuring smoother foot traffic and maintaining the original purpose of sidewalks as shared public spaces. Businesses can apply for permits through the Balady platform, which simplifies the approval process and clarifies all requirements.

Tags: