Day: February 28, 2024

Posted on

WadzPay’s Dubai entity receives Virtual Asset Service Provider (VASP) Licence from Dubai’s Virtual Assets Regulatory Authority

Issuance of licence is subject to meeting pre-operating requirements and qualifications for operational approval

WadzPay’s Dubai Entity Receives VASP Licence from VARA

WadzPay’s Dubai Entity Granted VASP Licence. Poised to Revolutionize Virtual Asset Transactions in Middle East.

DUBAI, United Arab Emirates, Feb. 28, 2024 (GLOBE NEWSWIRE) — WPME Technology, the Dubai-based entity of WadzPay, a leading fintech company specialising in blockchain based technology for virtual assets announced that it has been granted a Virtual Assets Service Provider (VASP) Licence for Virtual Asset Broker-Dealer service activities by Dubai’s Virtual Assets Regulatory Authority (VARA). The licence remains non-operational until the company fully satisfies all remaining conditions and select localisation requirements defined by VARA, following which it will be able to commence operations, subject to regulatory reverification and approval.

As one of the pioneers in blockchain based virtual assets technology, WadzPay is excited to deliver its innovative and industry-leading solutions to customers across Middle East while working closely with regulators in contributing to build a compliant and robust fintech ecosystem.

Mr. Anish Jain, Founder & CEO, WadzPay stated, “This licence showcases WadzPay’s dedication in promoting innovation in the field of virtual assets domain and blockchain technology bringing us a step closer to delivering world class solutions to businesses in Middle East.”

WadzPay aims to revolutionize the way people in the Middle East transact and manage virtual assets. WadzPay’s commitment to compliance ensures that financial institutions and their customers can confidently embrace the benefits of blockchain technology while adhering to regulatory standards, ultimately contributing to the growth and sustainability of the fintech ecosystem in the Middle East.

Mr. Ram Chari, Board Member and Group Director, WadzPay quoted, “This will further solidify WadzPay’s position as a trusted and reliable blockchain technology based financial service provider in the region. With the broker-dealer services, WadzPay will provide the technology to its clients to enhance the experience of their customers by enabling virtual assets transactions in a seamless and secure manner.”

To which Mr. Khaled Moharem, President – MENA & Europe at WadzPay, emphasized, “This cements our hard work and sets the stage for transformative blockchain solutions, promoting compliance and customer confidence in the Virtual Assets Industry.”

About WadzPay:

WadzPay was founded in 2018 in Singapore with a commitment to drive financial inclusion and revolutionise the virtual asset landscape. It is a leading global blockchain-based technology provider for virtual assets. The company’s innovative platform available as a SaaS offering provides secure, efficient, and transparent technology solutions, catering to businesses (B2B) and consumers (B2B2C). WadzPay works with large international companies, banks, and fintechs to enable virtual asset-based transaction processing, custody, and settlement. It operates across geographies spanning Asia Pacific, the Middle East, Africa, Europe, and the Americas.

For more information, visit www.wadzpay.com

About VARA:

Established in March 2022, following the effect of Law No.4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA Activities in all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. VARA plays a central role in creating Dubai’s advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance, while supporting the vision for a borderless economy.

For more information visit: www.vara.ae

For any media enquiries please contact:

Arijit Das

PR and Communications Manager

arijit.das@wadzpay.com

+91 9654930523

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58f14eb8-1029-4e43-988c-02833036e716

GlobeNewswire Distribution ID 9053953

Posted on

PSL9: Islamabad United beat Karachi Kings by 7 wickets

In Pakistan Super League, Islamabad United defeated Karachi Kings by seven wickets in Karachi on Wednesday.

Batting first, Karachi Kings scored 165 runs for the loss of five wickets in allotted twenty overs.

In reply, Islamabad United achieved the target in 18.3 overs for the loss of three wickets.

Source: Radio Pakistan

Posted on

Members-elect of KP, Balochistan Assemblies take oath

Members-elect of Khyber Pakhtunkhwa Assembly took oath at the inaugural session in Peshawar today.

Speaker Mushtaq Ahmad Ghani administered the oath to them.

Earlier, the house offered fateha for the deceased election candidates and the martyrs of Police and security forces.

A large number of guests were present in the provincial assembly to witness the inaugural session.

Meanwhile, the candidates for new Speaker and Deputy Speaker who have submitted their nomination papers with the secretary provincial assembly will be able to withdraw their papers till 11 p.m tonight.

Election for the Speaker and Deputy Speaker of Khyber Pakhtunkhwa Assembly will be held tomorrow.

Members-elect of newly elected Balochistan Assembly took oath at inaugural session of assembly in Quetta today.

Zamrak Khan Achakzai who presided over the session in the absence of Speakr Jan Muhammad Jamali administered the oath to newly elected members.

He announced that elections for Speaker and Deputy Speaker will be held tomorrow.

Th
e House has been adjourned to meet again tomorrow at 11:00 a.m.

Source: Radio Pakistan

Posted on

Pakistan urges UNSC to stop Israel from ground offensive on Rafah

At the United Nations, Pakistan has called for stopping Israel’s planned offensive on Rafah.

Speaking at the UN Security Council in NewYork, Pakistan’s Deputy Permanent Representative to the United Nations Usman Jadoon said Rafah invasion will further intensify the sufferings of Palestinians.

He said Israeli forces have already leveled Gaza’s cities and destroyed agricultural land and fishing fleet.

Warning against the imminent threat of famine, the Pakistani envoy said half a million people of Gaza are already facing starvation while over 30,000 Palestinians have been martyred and 2.3 million displaced since October last.

Source: Radio Pakistan

Posted on

Ashrafi urges Hajj pilgrims to follow codal formalities of Saudi Arabia in letter and spirit

Pakistan Ulema Council Chairman Hafiz Muhammad Tahir Mehmood Ashrafi has urged the intending Hajj pilgrims to follow the codal formalities of Saudi Arabia in letter and spirit during the sacred journey.

Talking to the media, he emphasized the Two Holy Mosques are the places of worship and not arenas for political expression or displays of nationalism.

He warned that raising slogans, flags or engaging in any other irrelevant activity is not allowed at the Two Holy Mosques and guarding their sanctity is obligatory upon Muslims.

Source: Radio Pakistan

Posted on

Preventive measures against diseases prerequisite to ward off expensive treatment: President

President Dr Arif Alvi has said that adoption of preventive measures against various diseases is prerequisite to ward off expensive treatment and such habits would also help reduce burden on the health system.

He was talking to a delegation of Pakistan National Heart Association that called on him at Aiwan-e-Sadr.

The delegation presented a report to the President on the activities and accomplishments of the organization.

The President stressed upon creating awareness among the masses about the significance of preventive measures against non-communicable diseases and heart diseases.

He also underscored the need about the role of media, local population, mosques and non-government organizations to create such awareness, besides utilization of different latest platforms to spread awareness messages.

Source: Radio Pakistan

Posted on

Relief operations underway by Pak Army in rain-hit areas of Balochistan

Relief operations are underway by the Pakistan Army in rain-hit areas of Balochistan in view of torrential rains and floods.

So far, five people have been safely rescued from the affected areas in Gwadar and Jiwani.

Pakistan Army engineers have started road clearance and dewatering of affected areas in Gwadar.

Apart from this, Pakistan Army is distributing ration and relief goods to the people of Gwadar.

A team of doctors from the Army Medical Corps has also been constituted, while teams of boats and swimmers have been prepared to evacuate people to safer places.

The Pakistan Army is also conducting assessment process of the damage caused by the torrential rains in Gwadar on emergency basis.

Source: Radio Pakistan

Posted on

Pakistan Army using all resources for welfare of tribal people: Corps Commander

The Pakistan Army, in collaboration with the government of Khyber Pakhtunkhwa, is taking solid measures to ensure gradual repatriation of tribal people to their respective areas, including provision of better educational facilities.

This was stated by Corps Commander Peshawar Lt. General, while talking to elders of Utmanzai Tribe of North Waziristan today.

The corps commander said steps are also being taken to ensure more representation of youth in minerals and other sectors.

He said Pakistan Army is using all available resources for the welfare of the people of tribal areas.

Appreciating the unwavering resolve of Pakistan Army in the war against terrorism, the tribal elders expressed commitment to always stand along with military and other law enforcement agencies for the survival and integrity of the country.

Source: Radio Pakistan