By Naser Taher, Chairman of MultiBank Group

The Middle East and North Africa (MENA) region has become the leading laboratory for financial innovation, where artificial intelligence (AI), central bank digital currencies (CBDCs), and sovereign wealth fund (SWF) strategies converge to reshape global cash flows. According to the World Economic Forum, venture capital investments in MENA grew by about 33% a year from 2015 to 2023, with funding reaching $644 million in 2024. This surge reflects deliberate efforts to position the region as a fintech powerhouse for the new economy.

One of the most significant developments is the strategic collaboration between the Abu Dhabi Investment Office (ADIO) and the Trump Organization to establish an AI and Web3 Free Zone. The $6.6 billion initiative aims to attract global tech firms, AI researchers, and fintech ventures to the UAE, further cementing MENA’s leadership in next-generation digital infrastructure.

Machine learning algorithms now process trades worth billions on Saudi Arabia’s Tadawul exchange daily, while automated risk assessment systems evaluate loan applications in real time from Dubai to Riyadh. Saudi Arabia’s Financial Sector Development Program has embedded AI throughout its capital markets ecosystem as part of Vision 2030’s broader economic transformation. PwC analysis projects this technological integration will generate almost $135 billion for the country’s economy by 2030, fundamentally altering how banks manage liquidity, assess credit risk, and compete regionally.

Central banks across the Gulf have moved beyond theoretical frameworks into live testing of digital currencies. The UAE’s Digital Dirham is set to enter retail circulation through licensed banks and fintech companies by late 2025, enabling near-instant cross-border payments where traditional banking requires days and charges hefty fees. Meanwhile, Saudi Arabia and the UAE have jointly piloted Project Aber, issuing a single wholesale CBDC. 

Gulf SWFs are reshaping the region’s infrastructure landscape, no longer content with simple portfolio plays. These institutions now control $4.9 trillion in assets, with projections reaching $7.3 trillion by 2030. In the first nine months of 2024, they accounted for 40% of all international SWF transactions, deploying $55 billion across 126 deals. Notably, Abu Dhabi’s Investment Authority and Saudi Arabia’s Public Investment Fund (PIF) are increasing allocations to blockchain and digital projects. In Qatar, the Qatar Investment Authority is working through the Qatar Financial Centre’s new Digital Asset Regulations 2024 to trial real-world asset tokenization.

Alongside these public sector moves; private institutions are also innovating on a scale. MultiBank’s new Electronic Communication Network (ECN) will introduce the Gulf’s first interbank trading and prime brokerage ecosystem, linking BRICS and GCC jurisdictions. Designed to compete with Western counterparts such as Bloomberg and Reuters, it connects conventional trading desks to machine-driven order routing and the MultiBank Chain’s tokenization layer. Cross-border deals become faster, safer, and more transparent, with settlements possible in gold or a mix of currencies instead of U.S. dollars alone. By opening the door to tokenized real-world assets and other decentralized products, the network sharpens the Gulf’s bid to serve as a global finance hub.

However, important challenges remain. Fintech ventures still need to navigate a maze of rules that shift from one border to the next; a single, region-wide framework would let ideas—and capital—move faster. As more money flows online, hackers gain fresh openings, and cybersecurity becomes even more critical. And while Gulf youth embrace tech with ease, the GCC needs far more specialists who can work with blockchains, train risk models, and secure CBDC payment rails. That calls for a push on everything from university courses to mid-career reskilling.

The next breakthrough won’t come from technology alone but from how well policymakers, entrepreneurs, and the sovereign heavyweights backing them work in sync. CBDC pilots are live, AI already guides trading desks, and deep pools of patient capital sit ready to fund new ideas. If the region’s key players keep pulling in the same direction, the Gulf won’t just join the digital finance conversation—it could end up leading it.

PNY Technologies today announced a strategic restructuring of its operations in the Middle East and Africa (MEA) region to support continued growth across its consumer and professional product lines.

As part of this transformation, PNY is creating two dedicated business divisions:

• * The Channel Division, led by Talus Arukalil, will focus on strengthening distribution channels for NVIDIA graphics products (NVIDIA GeForce and NVIDIA RTX Pro) and retail storage solutions, including SSDs, DRAM, flash cards, and USB drives.
• * The Compute Division, managed by Muhannad Hammad, will drive business development around AI infrastructure and professional services, aligning with the increasing demand for advanced NVIDIA-powered computing solutions across the region.
  

This reorganization follows the recent opening of a new regional office in Saudi Arabia, reinforcing PNY’s long-term commitment to the Middle East and Africa.

To further enhance regional coverage and ensure the best local support for its customers, PNY had recently assigned dedicated Key Account Managers to specific areas:

• Gader Muhsen for North Africa,
• Saqer Alanazi for Saudi Arabia,
• Kagiso Diteko for East and Southern Africa

PNY is also pleased to welcome Ahmed Gamal as Business Development Manager – AI Solutions, based in Dubai, UAE. His appointment reflects PNY’s dedication to delivering tailored AI solutions and supporting strategic partners across the region.

ASBIS Group, a leading Value Add Distributor, developer, and provider of ICT, IoT products, solutions, and services to the markets of Europe, the Middle East, and Africa (EMEA), has announced a strategic distribution agreement with iiyama, a leading manufacturer of professional and commercial display solutions. This partnership, formalized at a signing ceremony, aims to enhance the availability of high-quality display technology in the Middle East and North Africa.

Under the terms of the agreement, ASBIS will distribute iiyama’s comprehensive range of products, including high-performance desktop monitors, gaming displays, advanced touchscreens, and large-format screens. This collaboration is set to boost access to cutting-edge visual technologies across critical sectors such as education, retail, corporate environments, hospitality, and healthcare.

“We are excited to welcome iiyama into our network of world-leading vendors,” stated Hesham Tantawi, Vice President of ASBIS Middle East. “This collaboration underscores our commitment to delivering exceptional technology solutions to our partners and clients across the region. iiyama’s advances in display technology are well-aligned with our strategic objectives for market growth and digital transformation “

The collaboration will prioritize mutual growth through joint marketing efforts, dedicated channel support, and go-to-market strategies that address the unique needs of the MENA market. This alliance is expected to foster innovation, elevate customer experiences, and enhance the competitive positioning of both ASBIS and iiyama.