The global digital payments market is anticipated to touch a base of US$12.55Trn within 2027, the Fintech Cashier Group recently announced pouring an investment worth £10Mn into the MENA region alongside its partner Romin Holding WWL, a UK based innovative fintech. This partnership is poised to build up a financial gateway center based in Bahrain expanding its services to the fast-growing digital payment solution merchants in this part of the world.
According to a recent report by the World Bank on the digital economy in the MENA region, “fully digitalizing the economy could lead to a rise in GDP per capita of at least 46% over 30 years, or in dollar terms a long-term gain of at least $1.6 trillion. During the first year, this GDP per capita gain for the region would be almost $300 billion”. MENA countries include Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.
Dr. A. Latif Alkhaja, distinguished Founder of Romin Holdings and Shalom Dodoun met at FintechCashier’s Head Office in London to confirm the £10 million investment including ongoing discussions with the Central Bank of Bahrain to open a category one investment firm.
Shalom Dodoun, Founder & Director of Fintech Scion Ltd., the holding company of FintechCashier stated: “Romin Holdings is a prestigious global investment and business development company with over 30 years’ experience, diverse interests and capabilities in the MENA region, and is the perfect partner to expand our digital asset investments in the region with.”
According to FintechCashier Group’s official report, this partnership will also propel FintechCashier to offer regulated investment services to clients comprising the dealing in financial instruments as principal; dealing in financial instruments as agent; arranging deals in financial instruments; managing financial instruments; safeguarding financial instruments; advising on financial instruments; arranging credit and advising on credit; and operating a collective investment undertaking. They are seeking the highest permission from the regulators in Bahrain as well as partnering with SWIFT.
With their network of financial partners and banks, FintechCashier helps SMEs, Family Offices, and next-generation companies to reach the world. They service 150 countries; offer 35 processing currencies, 20 settlement currencies, partner with over 100 banks – all accessible via 1 gateway. According to the FintechCashier Group’s claims, their payment ecosystem offers a variety of payment types, including E-wallets, IBANs, credit cards, open banking, Swift, Chaps, Sepa, Wire Solutions, Settlement Accounts, is crypto-friendly and an extensive e-commerce shopping cart, all in all, a one-step integration.
