Financial News
Crossing Borders with BKN301, a new Fintech for the Middle East
The editor had an interview with Mr. Stiven Muccioli, CEO and founding investor of BKN301 at Dubai Fintech Summit. BKN301 Group, through a “Banking-as-a-Service” platform and digital e-money model, enables third parties to offer financial, payment and token issuing services. The company aims to become the leading open-market and cross-border operator in the Open Banking and digital payments sector, bringing its solutions to international markets with a strong focus on fast-growing markets (Africa, Middle East and Eastern Europe). The services BKN301 Group offers are easily integrated and enable a wide range of industries such as financial institutions and fintech companies, corporate entities, telcos, utilities, retailers and web3, to offer value added services for their clients. Founded by Stiven Muccioli, Federico Zambelli Hosmer and Luca Bertozzi, and operational since March 2021, has raised a total of EUR 20 million.
Introducing Stiven Muccioli:
Stiven Muccioli is the CEO and founding investor of BKN301, a leading Banking-as-a-Service firm and of the venture capital firm SM Capital. He is a serial tech entrepreneur with extensive experience working in the fintech sector. In this role, he is responsible for overseeing all aspects of the company’s operations, including strategic planning, product development, customer acquisition, and retention. To drive growth and progress, he coordinates and works closely with his teams to explore new avenues and accomplish the company’s objectives and goals. He further ensures that innovation is valued and fostered throughout the company’s operations in order to develop more cutting-edge solutions and products that cater to the evolving financial needs of our customers as well as position BKN301 as one of the leaders in the BaaS industry.
Can you tell us about your career journey and what inspired you to create BKN301?
I started my fintech career 12 years ago with a startup focused on online eCommerce and prepaid cards. At the time, the future of financial services was linked to eCommerce and customer-centric solutions. So, with all my understanding gathered to date, I can say that with the appropriate mix of services, you can leverage and tap into people’s financial activity. So, with the requirements of people and businesses in mind, we developed a super application that connects services such as eCommerce, peer-to-peer services, cross-border services, and others for people’s financial needs.
Our goal was to create a comprehensive solution that meets the financial needs of individuals and businesses in the Middle East and North Africa region. It has around 50 per cent of unbanked population, making it one of the regions with the highest proportion of unbanked individuals in the world.
The embedded finance industry in the MENA region is projected to grow at a compound annual growth rate (CAGR) of 27.8 per cent to USD 39,820 million by 2029, from USD 10,359 million in 2022. This has also led to a remarkable progress in the fintech sector, which is witnessing adoption and utilisation of innovative technologies. We are working relentlessly to bridge the gaps and provide businesses in the region access to our ground-breaking payment solutions and services. As pioneers in introducing integrated financial technologies to the region, we take great pride in our accomplishments. Our unwavering commitment to continuous innovation drives us to enhance our services and provide an even better experience for our valued customers.
What brings you to the Middle Eastern region?
These two factors bring me here – one is the population demographics, and the other is the importance of being the remittance corridor for other parts of the world. The MENA region is among the biggest corridors for cross-border remittances, and there is also full mobile penetration in these regions.
What are some current challenges in this space, and what strategies do you have in place to address them?
We operate in the B2B business sector, and our main challenge is finding the right fintech partners to provide our services. These partners need to have a wide reach in their respective countries and a good understanding of the changing behaviours of their local populations.
The second challenge is the regulatory hurdles that corporations face in different countries. Our company’s objective is to build businesses that comply with regulatory norms in different nations. Currently, we are operating in San Marino, Georgia, Egypt, and Qatar, and our next focus will be on Saudi Arabia, Jordan, Central Asia, and South Asia. To address these challenges, we are continuously searching for the right partners and working closely with regulators to ensure compliance with local laws and regulations.
What changes do you foresee for payment gateway applications in the future?
In the future, we expect to see new ways of lending money through payment gateways. This will pose a significant challenge to the traditional banking system in the region. Additionally, banking as a service will become more open to digital services. However, the lack of interoperability between countries will remain a challenge.
How does your organization approach the aspect of data security?
At our organization, we have a cloud platform, and we work without moving data out of the country. We collaborate with local providers to maintain the highest level of data security. We take data security very seriously and have implemented various measures to protect our clients’ data from unauthorized access, disclosure, or modification.
Financial
Vintage Vaults: Dubai’s Premium Safe Deposit Box Facility at Mall of the Emirates
As UAE residents prepare for summer holidays, international travel and seasonal relocation, Vintage Vaults, Dubai’s premium safe deposit box facility at Mall of the Emirates, is highlighting the importance of secure private vault storage for valuables, documents and high-value personal assets.
From jewellery and luxury watches to family heirlooms, legal documents, precious metals and collectibles, extended periods away from home can heighten concerns around security, accessibility and long-term protection. For residents, expatriates, investors and frequent travellers, secure storage during travel in the UAE has become an increasingly important part of responsible asset protection.
Vintage Vaults provides private safe deposit box rental in Dubai for individuals, families, collectors and business owners seeking a modern, discreet and service-led alternative to conventional safety deposit boxes. Combining advanced security infrastructure with premium client experience, the facility has been designed for clients who value privacy, convenience and peace of mind.
Located within Mall of the Emirates, Vintage Vaults offers client access during mall operating hours, 365 days a year. The facility operates within a 24/7 monitored security environment supported by UL-certified vault infrastructure, biometric authentication, controlled access systems, AI-powered surveillance, CCTV monitoring, motion detection technology and advanced alarm systems. It is also directly connected to Dubai Police and SIRA-linked monitoring systems, further strengthening its security framework.
Clients can choose from seven safe deposit box sizes ranging from XXS to XXL, accommodating a wide variety of assets including jewellery, watches, gold, cash, legal documentation, family archives, artwork and collectibles. Every box comes with complimentary insurance coverage, with protection of up to AED 2 million depending on the selected membership tier.
“Dubai has become home to a growing number of individuals and families who have accumulated significant personal and financial assets over the years,” said Sherif El Haddad, Founder and CEO of Vintage Vaults. “At the same time, we are seeing greater mobility, with people travelling more frequently, spending extended periods abroad, relocating between countries or managing assets across multiple markets. Accordingly, secure storage is becoming an essential part of responsible asset management, particularly during periods when people are away from home.”

Vintage Vaults offers three membership categories — Silver, Gold and Black — providing varying levels of insurance coverage, security features, box access nominees and premium services. Clients also benefit from private consultation and access rooms designed to maintain discretion, alongside a multilingual team trained in security, privacy, client service and asset protection.
For clients requiring additional support, the facility offers premium services including chauffeur arrangements, armoured transportation and bodyguard assistance, creating a comprehensive asset protection ecosystem tailored to high-value holdings.
According to Imran Shoukat Khan, Co-founder and Managing Partner of Vintage Vaults, demand for private vault services is being driven by a broader shift in how residents and expatriates think about protecting their assets.
“Today’s clients expect more than storage. They want confidence that their valuables are protected by robust infrastructure, supported by technology and managed with complete client discretion,” said Imran. “Whether someone is travelling for several weeks, relocating internationally or safeguarding assets for future generations, secure private vault facilities provide essential storage with , protection against theft, damage or loss along with peace of mind.”
The summer season presents a timely opportunity for UAE residents and expats to review how their valuable possessions are stored and protected. For many, a safe deposit box in Dubai offers a practical solution for securing jewellery collections, investment-grade precious metals, luxury watches, important family documents and sentimental heirlooms before extended travel or temporary relocation.
As one of the few independent private safe deposit box operators in the UAE not affiliated with a bank, Vintage Vaults offers a level of discretion, flexibility and service that traditional banking institutions may not provide. By combining advanced security standards, complimentary insurance coverage, flexible storage options and premium client services, Vintage Vaults continues to provide a trusted destination for clients seeking long-term asset protection in one of the world’s most dynamic wealth centres.
Financial
Standard Chartered H2 2026 Global Market Outlook: Navigating Shifting Sands
Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.
The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.
For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.
Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.
Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.
Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.
While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.
In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.

Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”
Financial
STANDARD CHARTERED H2 2026 GLOBAL MARKET OUTLOOK: NAVIGATING SHIFTING SANDS
Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.
The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.
For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.
Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.
Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.
Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.
While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.
In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.
Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”
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