Saudi Arabia follows with 13 companies, while Egypt accounts for 10, highlighting the growing importance of the three markets in the Middle East and North Africa’s financial technology sector. Collectively, the 50 companies processed more than USD 260 billion in transactions during 2025, according to Forbes Middle East.

The annual ranking was published on October 8.

The list covers businesses operating across payments, digital banking, lending, investment and wealth management, savings, and digital assets. Eighteen companies entered the ranking for the first time, including UAE-based Network International, Astra Tech, Digit9, and PRYPCO.

Their inclusion reflects the breadth of business models emerging in a market increasingly shaped by digital transactions and financial services delivered through technology platforms.

However, the UAE’s numerical lead does not translate into the top position in the overall ranking. Saudi-based shopping and financial services platform Tabby retained first place for the second consecutive year, followed by Egypt’s Fawry and MNT-Halan.

UAE-based Network International ranked fourth, making it the highest-placed company headquartered in the Emirates, according to the published list.

Tabby processes more than USD 18 billion in annual transaction volume. The company secured USD 233 million in new funding in September, at a valuation of USD 6.5 billion, as it expanded its regional presence.

It has also obtained additional licences in the UAE and Saudi Arabia, supporting the development of its financial products and services across the two markets.

Fawry, Egypt’s electronic payments company, ranked second, supported by a monthly customer base of 55.4 million as of June 2026.

MNT-Halan took third place after an investment round led by Al Ahly Capital Holding, the investment arm of the National Bank of Egypt, valued the company at USD 1.4 billion in June.

The company has also been pursuing a public listing on the Egyptian Exchange.
Network International’s fourth-place position underscores the role of payment infrastructure providers in the region’s fintech ecosystem.

The UAE-headquartered company offers acquiring, transaction processing, and value-added payment services to merchants and financial institutions. It serves more than 240,000 merchants and 250 financial institutions and fintech companies across over 50 countries.

The company’s regional footprint expanded following its October 2025 merger with Magnati.

In 2026, it also acquired RAKBANK’s merchant acquiring business in the UAE, adding approximately 5,000 merchants to its portfolio.

A Brookfield-led consortium, which includes First Abu Dhabi Bank, Mubadala, ADQ, Mastercard, and Olayan Financing Company, controls the business.

The ranking’s methodology extends beyond company valuations and funding rounds. Forbes Middle East assesses external investment, transaction volumes, active users, consumer reach, geographical presence, and progress in innovation, growth, and expansion over the preceding year. It excludes fintech platforms owned by exchange houses, telecommunications operators, traditional banks, and government institutions.

That approach provides a broader picture of the sector than funding totals alone, although the ranking is not a comprehensive measure of each country’s entire fintech industry. Its results depend on the companies considered eligible and the indicators used to assess their performance.

The UAE’s strong showing also reflects the range of financial services businesses operating from the country. Alongside payment processors, the regional ecosystem includes digital investment platforms, business finance providers, property technology firms, and companies developing infrastructure for financial institutions.

The presence of new entrants such as Astra Tech, Digit9, and PRYPCO illustrates the diversity of services represented in the latest list.

The wider regional backdrop remains favorable for digital financial services, even as geopolitical instability continues to affect the Middle East.

Forbes Middle East reported that fintech attracted USD 708 million across 51 funding rounds in the first half of 2026, citing data from Wamda.

Digital payment platforms were prominent in the ranking, reflecting demand for convenient ways to transfer money, pay merchants, and manage finances.

The latest ranking highlights the region’s growing capacity to develop and scale financial technology businesses across national borders.

With companies spanning payments, lending, investment, and financial infrastructure, the sector is moving beyond individual applications toward a broader ecosystem serving consumers and businesses.

For the UAE, having 15 companies on the list reinforces its position as a major regional base for fintech operations.

Whether that presence translates into sustained leadership will depend on companies’ ability to grow transaction volumes, attract capital, expand into new markets, and build commercially viable services amid intensifying competition across the Middle East.

The post Forbes Middle East Fintech 50: UAE leads ranking with 15 firms appeared first on International Finance.