News
Sarwa’s New Cash Accounts Boost Growth By 250% In 3 Months
Despite some financial institutions suffering during the economic downturn, Sarwa’s reliability and trustworthiness seem to be paying dividends.
Sarwa, the personal finance and investment platform, recently launched a new high-yield cash account known as Sarwa Save. Despite the gloomy worldwide economic outlook of late, the new service has been a roaring success, with monthly deposits growing by 250% in just three months.
Sarwa users are increasingly prioritizing short-term savings with generous interest levels, as historically high inflation and aggressive Federal Reserve policies have led to challenging investment conditions.
“We are thrilled to see the rapid adoption of Sarwa Save, which reflects the growing demand for secure high-yield, low-risk products. Sarwa’s customers recognize the value in the offering and trust it with their hard-earned money. This trust has played a pivotal role in the impressive growth. Sarwa Save is a testament to the company’s commitment to providing innovative financial solutions and empowering clients to navigate the evolving economic landscape confidently,” says Shane Shin, Co-founder and Managing Partner, Shorooq Ventures.
Also Read: A Guide To Digital Payment Methods In The Middle East
In the UAE, most savings accounts offer low to zero interest, while Sarwa Save delivers a rate of 3% — nearly four times the average amount. As well as tempting short-term yields, the new accounts have no monthly or low-balance fees. When combined with hassle-free account setup, Sarwa’s platform makes for an appealing choice compared to traditional banks, especially as the startup offers a special, Sharia-compliant option known as Sarwa Save Halal.
Disclaimer: Sarwa Save is a product offered through Sarwa Digital Wealth (Capital) Limited that is regulated by the FSRA in the ADGM. This offering is not regulated by the DFSA. Sarwa is not a bank. We can unlock high-yield accounts through our banking partners.
News
Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE
The comprehensive agreement with Abu Dhabi’s government includes a training program, infrastructure development, and a manufacturing presence.
All-electric aircraft company Joby Aviation has secured three separate agreements with departments of Abu Dhabi’s government that lay the groundwork to develop and scale air taxi services in the Emirate and beyond.
The deal was signed at the recent DRIFTx thought-leadership and exhibition platform and gave Joby exclusive rights to not only operate air taxi services in Dubai but also unlock inter-emirate services between Abu Dhabi.
Joe Ben Bevirt, founder and CEO of Joby Aviation, said: “Today’s agreement demonstrates the incredible momentum behind the adoption of clean flight across the UAE. We’re looking forward to delivering a fantastic experience for our future customers in Abu Dhabi and we’re excited to be unlocking the potential for zero-emissions flight between Abu Dhabi and Dubai. We’re grateful for the support and collaboration of our governmental partners and the entire ecosystem in Abu Dhabi and we remain deeply impressed by their commitment to building out a world-class aviation ecosystem in the Emirate”.
Joby’s all-electric aircraft went on display for the first time in Abu Dhabi’s Yas Marina at the DRIFTx event. The air taxi is designed to carry a pilot and four passengers and can reach speeds of 200 miles per hour (321 km/h). The zero-emission craft is said to have an extremely low acoustic footprint and can travel a maximum of 100 miles (161 km) on a single charge.
Also Read: Lebanese Newspaper Builds AI President To Beat Political Crisis
Once operational, Joby’s air taxi fleet would enable fast, clean travel across the UAE, with journeys between Abu Dhabi to Dubai taking just 30 minutes compared with two hours by car during peak times.
Joby continues to work closely with the UAE’s General Civil Aviation Authority (GCAA) to help the Emirates become a world leader in the introduction of air taxis. Additional testing and analysis will be required before inter-emirate travel becomes a reality, but the cutting-edge technology already appears to have great potential.
Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE
Binance Founder Changpeng Zhao Gets 4 Months In Prison
Ring Upgrades Home Security With New Ring Protect Plus Features
Amazon.ae Debuts “It’s On Amazon Prime” Campaign Videos
Dubai Gives Go Ahead For $35 Billion Al Maktoum Airport Expansion
UGREEN Unveils Nexode RG 65W Charger For Middle East
Lebanese Newspaper Builds AI President To Beat Political Crisis
YallaHub Teams Up With Lapochka For Future UAE Expansion
Binance Receives Virtual Assets License To Operate In Dubai
