BANKING-

MultiBank’s business clients will now have access to Mashreq’s instant payment solutions: Financial derivatives broker MultiBank Group has partnered with our friends at Mashreq to bring instant payment API solutions to its corporate clients, according to a press release (pdf). Mashreq’s instant payment offering — which is integrated with central bank-backed instant payment platform Aani — will enable MultiBank’s clients to carry out real-time transactions, including domestic fund transfers and bulk payments.

ICYMI- Mashreq first launched its instant payment service for its corporate clients in July, becoming one of the first financial institutions in the UAE to do so.

CRYPTO-

M2 launches direct bank integration for easier crypto trading: Homegrown crypto trading platform M2 has introduced a new feature allowing UAE residents to buy and sell BTC and Ethereum using their bank accounts, according to a press release. Users can now convert cryptocurrencies to AEDs — and vice versa — using trading pairs listed on M2’s spot market.

INVESTMENT-

Adia buys into Indian facility management and cash logistics firm: Abu Dhabi Investment Authority, along with Mumbai-based 360 One Mutual Fund, has purchased a 3.6% stake in Indian facility management and cash logistics services company SIS with Mumbai-based 360 One Mutual Fund for INR 215 mn (c. USD 25.7 mn), according to a filing on the Bombay Stock Exchange.

CAPITAL MARKETS-

Arqaam Capital launches securities lending solutions: Emerging markets investment bank Arqaam Capital will start offering securities lending and borrowing services for Abu Dhabi-listed securities, after it received approval from ADX, setting it up to attract more institutional investors, the brokerage said in a Linkedin post.

TRADE-

Iraq’s International Development Bank (IDB) has joined Etihad Credit Ins.’ Xport Xponential initiative, to facilitate UAE companies’ access to the Iraqi market by providing them with funding, Wam reports.

Remember- ECI launched the Xport Xponential initiative in May to boost UAE exports, particularly targeting SMEs and non-oil products. The platform seeks to offer UAE-based companies extensive credit facilities and financial solutions through collaborations with the financial and banking sectors. It also aims to streamline exporters’ access to countries with economic partnership agreements with the UAE.

FINANCE-

Hong Kong Fiduciary Association opens Dubai office: The Hong Kong FiduciaryAssociation opened an office in Dubai’s Business Bay, marking its seventh global office, Al Bayan reports.

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