UAE credit files add Tabby and Tamara, Abhi eyes Karachi listing

The UAE's consumer credit landscape and a flurry of regional deals headline this week’s MENA tech roundup: Al Etihad Credit Bureau will begin including Tabby and Tamara BNPL account data in credit reports from July, Brookfield has agreed to acquire Aypa Power for roughly $7 billion in enterprise value, and Abhi Microfinance Bank is preparing an $11 million listing in Karachi offering about 14% in new shares. Other notable moves include SILQ securing a $75 million Shariah-compliant debt facility and multiple UAE fintechs receiving Stored Value Facility approvals from the Central Bank.

"I want the bank to follow Nubank and Kaspi," said Abhi Microfinance Bank CEO Omair Ansari, outlining ambitions for digital growth and product expansion as the lender eyes a Pakistan market debut.

UAE credit files to include BNPL activity

From July, Al Etihad Credit Bureau will add Tabby and Tamara account data to national credit reports, giving banks visibility into consumers’ buy-now-pay-later commitments for both new and existing customers and including historical transactions. The bureau will display the data in reports without immediately changing credit scores, mirroring the separation that some US bureaus employ.

The move makes the Emirates the first major market to bring its dominant BNPL providers into the national credit file simultaneously. Observers note that Western markets have not yet achieved similar coverage — Klarna and Afterpay continue to withhold much US data while Affirm reports fully — and that in Saudi Arabia BNPL data already flows to SIMAH under SAMA requirements, though coverage there is described as incomplete.

Deals, debt facilities and fundraisings

• Brookfield has agreed to acquire Aypa Power, the North American battery storage platform built by Amman-raised founder Moe Hajabed, for approximately $7 billion in enterprise value.
• SILQ, formed by the ShopUp–Sary merger and operating Fina, its SME lending arm, secured a $75 million Shariah-compliant debt facility from Fasanara Capital — taking its announced debt capital this month to $95 million.
• Epic Markets (UAE) raised $10 million in a pre-seed round from sole investor Karatage to bring institutional-grade trade execution to retail investors.
• Labby (Syria) raised $10 million from a consortium of UAE and Saudi investors, described as the first direct foreign investment into a Syrian tech startup.
• Bundle (UAE) secured $5.5 million in a pre-seed round co-led by Ethereal Ventures and Further Ventures; Fincart (Egypt) raised $2.8 million in an oversubscribed seed round; Ash Games (KSA) raised $1.5 million in seed; Reme-D (Egypt) raised $1.45 million in Pre-Series A.

Fintech licences and public market plans

It’s been an active week for UAE payments licensing. The Central Bank issued Stored Value Facility approvals in quick succession: Pemo and Checkout.com received in-principle approval, while KamelPay secured full SVF and Retail Payment Services licences. Pemo plans digital wallets and fund-holding for SMEs; Checkout.com will add issuing alongside acquiring services; and KamelPay serves more than 2,000 corporate clients and 400,000 employees through its WPS payroll platform.

Public markets activity centers on Abhi Microfinance Bank, the former FINCA Microfinance Bank that has swung from a $6.3 million annual loss to a record $3.7 million profit in its first full year under Abhi's ownership. The lender, which has raised more than $50 million (equity and debt) since 2021 and launched earned wage access in Saudi Arabia via a $200 million Alraedah partnership, plans an $11 million Karachi IPO as Pakistan experiences a surge in listings this year.

Outlook

The convergence of tighter credit reporting, large strategic acquisitions, and expanded fintech licensing signals continued maturation of the region’s fintech and energy-tech markets. Inclusion of BNPL data in national credit files should change underwriting dynamics for banks and lenders in the UAE, while Brookfield’s Aypa deal and Abhi’s IPO plans underscore investor appetite for scale plays across energy storage and embedded-finance banking models. Market participants will be watching how BNPL data affects consumer credit access and whether new licensing approvals accelerate product launches by regional fintechs.