Gulf Insurance Group announces 39% increase in net insurance result
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FAB's Lime app enters Egypt's fintech scene with $9.4 million investment
Press release: Lime Consumer Finance, the largest platform for education financing in Egypt and a wholly owned entity of First Abu Dhabi Bank Group in the UAE, has officially launched in the fintech ecosystem, with a specialised focus on educational financing as its first strategic entry point. Licensed by Egypt's Financial Regulatory Authority (FRA), Lime offers structured, transparent, and accessible solutions for families in Egypt. While education marks the beginning, Lime's app is designed to expand into other essential life sectors, paving the way for broader financial empowerment. Lime enables families to plan and pay for education across a holistic network of nurseries, schools, and universities. With over 30% of Egypt's population under the age of 15 (CAPMAS, 2025), education finance has become a natural priority. The app features installment options ranging from 6 to 12 months for amounts up to EGP 1 million, with digital onboarding and financing approvals granted within minutes, ensuring speed, convenience, and regulatory compliance. Mr. Ahmed Mohsen, CEO and Managing Director of Lime Consumer Finance, stated: 'With an initial investment of USD 9.4 million, Lime enters the market at a time when Egypt is witnessing a parallel surge in private education demand and digital financial inclusion—fueled by a young population and supportive national policies.' He added: 'We're proud to be contributing to Egypt's Financial Inclusion Strategy by addressing a real need. Lime fills a critical gap by offering structured, transparent, and accessible financing solutions—and this is just the beginning. With a strong investment in technology, we aim to deliver a unique digital journey for customers, with approvals granted in minutes using a state-of-the-art credit decision engine.' On the expertise front, Lime's Board of Trustees brings together multidisciplinary expertise across key sectors essential to the company's mission: Ms. Mariam El Samny, Head of Consumer Banking at FABMISR; Mr. Refaat Zayed, Head of Retail Credit at FABMISR; Mr. Abdallah El Ebiary, Managing Director at Alvarez & Marsal's Sovereign Advisory Services; Mr. Mohamed El Kalla, CEO of CIRA Education; Ms. Magda Habib, CEO and Founder of Dawi Clinics and Mr. Omar Bassiouny, Founding Partner at Matouk Bassiouny and Group Head of Corporate and M&A. Backed by the strength and experience of First Abu Dhabi Bank Group and guided by a multidisciplinary board, Lime is committed to driving financial inclusion and sustainable impact across Egypt's evolving fintech landscape. Education is Lime's starting point, but the app is designed for future expansion into other high-impact sectors.
Al Bawaba
5 hours ago
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KIB wins CFI.co's 2025 Award for Excellence in Innovative Corporate Banking Services
Kuwait International Bank (KIB) is proud to announce that it has been awarded the prestigious title of 'Excellence in Innovative Corporate Banking Services – MENA 2025' by the Capital Finance International ( Awards. This recognition underscores KIB's notable role in delivering cutting-edge, Shari'ah-compliant banking services, and reflects its strategic commitment to bolstering the banking landscape in Kuwait and beyond. The judging panel commended KIB for its outstanding performance in offering diverse banking solutions, from financing various commercial activities, projects and trade services, to treasury products and bespoke advisory, tailored to the specific needs of corporate customers and aligned with Islamic Shari'ah principles. The award also recognizes KIB's contribution to advancing economic development by financing major infrastructure projects in alignment with Kuwait's Vision 2035. Commenting on the Bank's latest achievement, Hesham Al Mubaraki, General Manager of the Wholesale Banking Department at KIB, stated: 'We are very proud of KIB's continued recognition on the international stage. This award reflects the success of our forward-thinking approach and our unwavering commitment to empowering corporate customers through tailored financial solutions and digital innovation. At KIB, we continue to anticipate the evolving needs of our customers, delivering banking services that are not only compliant with Shari'ah, but also creative and aligned with global standards of excellence.' Al Mubaraki emphasized that KIB has rapidly evolved through substantial investments in digital capabilities and product development. At the core of this advancement is the KIB Digital Factory, an innovation hub designed to attract and nurture top-tier talent focused on developing next-generation banking products and services. Through this initiative, KIB has launched specialized digital platforms, upgraded existing channels, and integrated digital tools into core business operations. Al Mubaraki added: 'Looking ahead, KIB aims to expand its reach by pursuing new business ventures, offering Banking-as-a-Service (BaaS) to non-banking institutions. The Bank also aims to explore opportunities in non-traditional banking activities and plans to introduce a wider range of investment products, along with additional services and offerings provided by the Treasury Department. Through its innovative financial offerings, KIB is committed to playing a key role in fostering the growth of entrepreneurs and startups, empowering the next generation of businesses to thrive.' It serves to note that is one of London's most prominent media platforms specializing in covering business, economy, and finance news, while its awards program stands as one of the largest international forums to evaluate and recognize individuals and institutions that have contributed to providing the highest standards of innovation and excellence in the economic and financial sector worldwide.
Al Bawaba
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35% Emiratization: Union Coop Focuses on Social Responsibility and National Talent Development
Popular retailer 'Union Coop' has announced that Emiratis now make up 35% of all localizable roles within the organization, reflecting its strong commitment to Emiratization and national talent Mr. Mohamed Al Hashemi emphasized that Emiratization is central to Union Coop's strategy, aligning with the UAE's vision to strengthen Emirati presence in the private sector. He noted the cooperative's focus goes beyond numbers, aiming to empower and professionally develop national Coop offers tailored training programs, practical internships for university students, and dedicated roles for 80 national service and reserve personnel. It also runs leadership development programs to prepare future Emirati leaders. Al Hashemi affirmed that empowering national talent is part of Union Coop's social responsibility, and the organization will continue collaborating with government and private entities to support the UAE's sustainable development goals. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
