UAE launched its KYC Blockchain Platform in February 2020. This national ecosystem allows data sharing between licensing authorities and banks in the country, making it easier to open an account.

Africa’s largest economy joins the growing list of countries turning to digital money to cut transaction costs and get more people to participate in the formal financial system. But challenges to the rollout remain, giving the government a huge responsibility of preparing the people to embrance the technology and trust its use.

Stringent cost control and digitalisaltion led to steady improvement in operational efficiency of Qatar Islamic Bank. The top 10 most efficient Islamic banks among the world’s 50 largest Islamic banks comprise four from Qatar, three from Malaysia and one each from Egypt, Turkey, and the United Arab Emirates.

The Egyptian government introduced several initiatives such as developing its information and communication technology (ICT) infrastructure, fostering digital inclusion, embracing innovation, safeguarding cybersecurity, and promoting Egypt's position as a regional pioneer.

As part of its digital transformation, Access bank made significant investments in its infrastructure to upscale its banking offerings, including modernising its IT systems, and collaborating with strategic technology firms

Africa-focused digital banks seeking to plug the financial services gap of the unbanked face a market of about 300 million potential customers. Having attracted significant investments, they are poised to challenge traditional banks

BNPL services started to gain popularity during the COVID-19 pandemic. Due to its accessibility and flexibility, customers can make purchases and spread the costs over monthly instalments. This solution was introduced to address the needs of digitally-savvy customers in various countries in Africa as a way to include unbanked populations in the region.