News

Arab League Establishes Council Of Ministers For Cybersecurity

Secretary General Ahmed Aboul Gheit stressed the significance of increased cooperation as cyber threat levels intensify.

Published

2 years ago

September 12, 2023

Nour Nasir

arab league establishes council of ministers for cybersecurity

AFP

Officials at the 160th session of the Council of the Arab League — held in Cairo — have welcomed the decision to establish a Council of Ministers for Cybersecurity.

The council aims to document and develop cooperation between Arab states in all aspects related to cybersecurity, which has become a growing threat to national and regional stability.

Saudi Arabia proposed the decision, and as such, the council’s general secretariat and executive office will be based in Riyadh.

Ahmed Aboul Gheit, secretary-general of the Arab League, stressed the importance of heightened cooperation in cybersecurity, explaining that regional stability and economic growth would be impossible without joint action from all Arab nations.

Assistant secretary-general Hossam Zaki was in agreement with Gheit, stating, “The council aims to develop […] and coordinate efforts between Arab countries in all aspects related to cybersecurity issues. The field of cybersecurity has become a major pillar of any security system, and there cannot be economic development, for example, without the provision of cybersecurity, with all its elements for society and citizens”.

Initially, the council will seek to develop cybersecurity at all economic and legislative levels by proposing policies, standards, and initiatives that will apply to all participating states.

Also Read: The Largest Data Breaches In The Middle East

According to US consulting firm Frost & Sullivan, the Middle Eastern cybersecurity market will be worth over $30 billion by 2030, representing a compound annual growth rate (CAGR) of nearly 20% as regional governments increasingly seek to protect their infrastructure and data.

The report revealed that the UAE and Saudi Arabia are expected to take the lead in cybersecurity adoption due to the favorable economic conditions and startup-friendly regulations that have made them popular locations for tech companies and innovators.

News

Stake Powers Instant Payouts With Checkout.com Pay To Card

The new feature lets investors in the UAE, KSA, and UK receive real estate returns in minutes — cutting withdrawal times to under 10 minutes.

Published

2 days ago

June 19, 2025

Nour Nasir

stake powers instant payouts with checkout.com pay to card

Stake, a leading digital real estate investment platform, has unveiled Pay to Card, a next-generation withdrawal feature built on Checkout.com’s global payment infrastructure. The integration enables investors to have dividends and returns credited directly to their bank cards — often within minutes — dramatically reducing the traditional multi-day payout process.

After a successful pilot in May involving over 200 users, some investors reported receiving their funds in under 10 minutes. Ricardo Brizido, CPTO and Co-Founder of Stake, emphasized the importance of speed and reliability: “With Pay to Card, we’re eliminating unnecessary delays and putting returns in our investors’ hands almost instantly. This feature was built to directly solve one of the most common pain points in real estate investing, and it’s already driving strong results”.

The feature launch coincides with rapid growth in real-time finance across the Middle East. Checkout.com’s “State of Digital Commerce in MENA 2025” report highlights a 388% year-on-year surge in Account Funding Transactions (AFTs) in the UAE, reflecting strong demand for immediate payout solutions. The same study recorded a 176% increase in total processing volume from 2023 to 2024 and noted that daily online transactions have jumped 320% since 2020.

Since its 2021 debut, Stake has facilitated over AED 1 billion in property transactions, advancing its mission to democratize real estate investment in high-growth markets. By integrating Pay to Card, Stake reinforces its commitment to customer-centric innovation and operational transparency.

Also Read: Binance Enters Syrian Market As Sanctions Lifted

Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, praised the collaboration: “Stake has always led with customer-first financial experiences. Together, we’re meeting the expectations of a region that is no longer just digital-first, but real-time-first. Pay to Card exemplifies how modern payment infrastructure can directly solve investor pain points”.

Pay to Card is now available to all Stake users in the United Arab Emirates, the Kingdom of Saudi Arabia, and the United Kingdom. By slashing withdrawal times from days to minutes, Stake and Checkout.com are setting a new standard for seamless, on-demand real estate investing.