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.

Published

2 years ago

April 5, 2023

Nour Nasir

Sarwa

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

“AI Seal” Certification Now Required For Dubai Gov Partnerships

The new mandatory certification is designed to build trust in AI companies and create a reliable network of providers for government and public collaboration.

Published

20 hours ago

January 21, 2025

Nour Nasir

ai seal certification now required for dubai gov partnerships

Dubai Media Office

Dubai has introduced the Dubai AI Seal, a certification designed to establish trust in artificial intelligence (AI) companies and solutions. This initiative, directed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, aims to create a reliable network of AI providers which government entities and businesses can collaborate confidently.

Companies must now obtain the AI Seal to qualify for UAE or Dubai government contracts. The Dubai Centre for Artificial Intelligence (DCAI), which developed the certification, sees it as a competitive edge for companies looking to participate in key national projects. Once certified, businesses will be permitted to showcase the seal across their websites and marketing materials, signaling their credibility and dependability.

The evaluation process will consider six main criteria: the company’s services and operations, the number of employees specializing in AI, ongoing and future projects, as well as existing partnerships with public and private sector entities.

dubai ai seal certification

Khalfan Belhoul, CEO of the Dubai Future Foundation, which oversees the DCAI, commented on the initiative’s potential: “This initiative will help create powerful partnerships between the public and private sectors, locally, regionally, and globally. It will help drive new economic opportunities by leveraging AI to serve better the economy, society, and the future we aspire to”.

Also Read: Top Free AI Chatbots Available In The Middle East

The Dubai AI Seal’s goals include providing a clear framework for verifying AI providers, fostering business opportunities for AI companies, and acknowledging the industry’s strategic importance to Dubai’s economy. The initiative emphasizes AI’s role in driving economic growth, creating jobs, and strengthening collaboration between government bodies and technology firms.

All technology companies operating in Dubai and offering AI-related services or products are eligible to apply for the certification at no cost through the official website.