6th December 2024, Doha, Qatar: NymCard, the trusted embedded finance provider in the MENA region, has announced a strategic partnership with AlRayan Bank, a leading bank in Qatar. This collaboration marks a significant milestone in driving fintech innovation and unlocking new opportunities in Qatar’s financial ecosystem, aligning with Qatar Vision 2030 and the Qatar Central Bank’s fintech strategy to accelerate the country’s digital economy.
Through this partnership, NymCard and AlRayan Bank aim to empower fintechs, banks, and non-bank financial institutions (NBFIs) to create and scale innovative card programs and payment solutions. Leveraging NymCard’s API-driven platform and AlRayan Bank’s deep market expertise, the partnership will enable the development of agile, customer-centric financial products designed to enhance user experiences and support Qatar’s evolving financial landscape.
“We’re thrilled to partner with AlRayan Bank to bring unparalleled opportunities to Qatar’s fintech community,” said Nabil Tabbara, General Manager of NymCard Qatar. “This collaboration is a testament to our shared commitment to fostering innovation and advancing Qatar’s financial ecosystem. By aligning with Qatar Vision 2030 and the Qatar Central Bank’s fintech strategy, we’re creating a strong foundation for digital transformation and supporting the growth of a robust, future-ready economy.”
As NymCard continues to expand its presence in Qatar, it remains dedicated to nurturing fintech innovation in the region. This partnership underscores NymCard’s commitment to fostering local fintech ecosystems and supporting the nation’s goal of becoming a global leader in financial technology.
For additional information, please contact:
Press Relations
press@nymcard.com
About NymCard
NymCard is MENA’s trusted partner in embedded finance, delivering a comprehensive suite of financial services designed for seamless integration. The platform provides card issuing, embedded lending, and money movement capabilities, enabling financial institutions, telecommunications providers, conglomerates, and other industries to create tailored payment programs that address evolving customer needs.
Licensed by the Central Bank of the UAE and a member of major global card schemes, NymCard processes billions of dollars annually for its partners. The platform solves key market needs such as real-time transactions, personalized lending solutions, and modern, secure payment rails. Its modular, API-first architecture allows businesses to launch custom solutions quickly and efficiently, transforming the way payment solutions are delivered in the region.
About AlRayan Bank
AlRayan Bank was incorporated as a Qatari Public Shareholding Company in 2006 and is a Shari’ah-compliant bank headquartered in Doha, Qatar. More than 30% of the bank’s shares are owned by Qatari government entities, and the bank has a solid A1 credit rating. After the completion of its merger with Al Khalij Commercial Bank “al khaliji” in 2021, AlRayan Bank’s total assets reached QAR182 billion, making it the second-largest Shari’ah-compliant bank in Qatar and one of the largest in the region, with a capital base of QAR9.3 billion.
