Mubasher: The value of the investments seeded in the financial technology sector at the small and medium companies in the MENA region grew 123%, according to a recent report compiled by Almasah Capital.
The sector’s investments increased from $10 billion in 2010 to $22.3 billion by the end of 2015.
The projects that comes in respect with the financial technology sector are considered a major contributor in the region’s gross domestic product (GDP), although they grow at pace slower than those at developed countries, said the report.
The financial technology sector accounts for 80%, 99% and 60% of the GDP of Egypt, Lebanon and UAE.
The sector’s activities include innovations in financial literacy and education, retail banking, investment and even crypto-currencies like bitcoin.
