According to Arab News this week, ‘the year of the fintech is just getting started.’ Arab News, based in Riyadh, Saudi Arabia, focuses much of its report on the Saudi kingdom, where fintech activity has seen rapid growth in the last year. However, UAE is also an important centre for fintechs in the region. These two countries are leading the growth in fintech start-ups and development in the Middle East. What is driving this growth is the active support of the governments of these two countries and the increasing use of digital banking and payment systems by customers. In addition, both countries are striving to reduce their dependence on oil production.
