21 C
Dubai
Friday, February 23, 2024
spot_img

Possible Introduction of Remittance-Linked Loans and Split Rent Payment App in Dubai, UAE-1

Remittance-Linked Loans  As part of the Dubai International Financial Center (DIFC) FinTech Accelerator Programme, Planet 9, a neobank founded by Tajikistan national Bobur Murvatov, is set to receive funding. Planet 9’s mission revolves around providing loans to migrant workers based on their remittances. Bobur Murvatov’s personal experience and observations led to the establishment of Planet 9, targeting the challenge faced by migrant families in accessing funding and loans. The neobank’s upcoming product, “Send Now Pay Later (SNPL),” is poised to tap into the substantial remittances market in the UAE.

Ezyrent: Transforming Rent Payments in the UAE: Remittance-Linked Loans

Charlie Berbari’s Innovative Solution to Rising Rental Challenges

Charlie Berbari’s project, Ezyrent, has received support from the DIFC Accelerator Programme. Inspired by the escalating rental challenges in the UAE, Ezyrent addresses the prevalent trend of one-cheque rental payments by introducing a solution that allows users to split their yearly rents into manageable monthly installments. Berbari’s vision is to alleviate the financial strain on tenants grappling with soaring rents, offering a 12-month payment solution complemented by rental insurance to safeguard against potential job losses.

DIFC AccelerateHER Programme and Investor Day Highlights: Remittance-Linked Loans 

Showcasing Innovation and Entrepreneurship

The DIFC AccelerateHER programme culminated with an Investor Day, providing a platform for entrepreneurs to pitch their ideas to high-ranking officials from DIFC and industry partners. Mohammad AlBlooshi, CEO of the DIFC Innovation Hub, highlighted the program’s success, with over 200 graduated companies raising more than $600 million. This year, 19 companies graduated, showcasing innovative solutions and attracting investor interest. The event marked a testament to DIFC’s commitment to fostering FinTech innovation and supporting startups in the financial sector.

Also Read

Funding Pips at the Forefront: Lailayan Almasri’s Strategies for Industry Leadership

IIT-Delhi Abu Dhabi: Inaugural Course Offers 25 Seats – Admission Process and Job Prospects Explained

Related Articles

Abu Dhabi-Backed RedBird IMI Secures $1.45 Billion Deal for UK’s All3Media

Abu Dhabi-Backed RedBird IMI Secures Powerhouse $1.45 Billion Deal for UK's All3Media RedBird IMI, spearheaded by Jeff Zucker, the former CNN executive, has clinched a...

Ramadan Delight: Retailer Slashes Prices on 10,000 Items, Unleashes Dh5,000 Gift Cards for UAE Shoppers

Ramadan Joy: Retailer Slashes Prices on 10,000 Items, Unveils Dh5,000 Gift Cards, These essential products, comprising approximately 80 percent of the total offerings, span across...

Quit Smoking for a Powerful Reduction in Insurance Premiums , Break Free with Mind Your Money

Quit smoking related illnesses contribute significantly to healthcare expenditures. In the United Arab Emirates (UAE), where a forward-thinking approach to health and wellness is gaining...

GCC Countries Poised to Supercharge Region’s GDP by $2.5 Trillion in 10 Years

GCC Countries Unleashing Potential to Skyrocket Region's GDP by $2.5 Trillion in a Decade A recent study has unveiled the potential for accelerated economic growth...

UAE Gold Prices Surge on the First Trading Day of the Week

UAE Gold Prices Soar on First Trading Day of the Week Gold prices in the UAE experienced a notable surge on the initial trading day...

Latest Articles