Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
When Leen Shami had to pay her share of the bill for a joint lunch order at the office, she became the first person in the UAE to use Ziina, a newly launched peer-to-peer payments (P2P) app. The Jordanian digital media marketing professional was able to transfer the amount of Dh55 within a few hours after downloading the app.
"My roommate and I now use it monthly to split our Wi-Fi, electricity and water bills. My roommate was having trouble setting up her banking app, so we were always paying each other back with cash, which was such an inconvenience. This has made things much easier," Ms Shami tells The National. She has since used the app on numerous social occasions.
Ms Shami heard about the app from her cousins, Faisal and Sarah Toukan, who banded together at the end of 2019 with their software engineer friend Andrew Gold. Ziina was made available for download on the Apple App Store and the Google Play Store in May. It has since acquired a few thousand users and completed hundreds of thousands of dirhams in transactions, says Mr Toukan, a 26-year-old Jordanian American.
Ziina has been built and launched within the space of a year after Mr Toukan first saw Mr Gold build a peer-to-peer app to transfer the cryptocurrency Ethereum at a 2019 hackathon event in San Francisco. Earlier this year, the company raised $850,000 in seed investment, with participation from Samih Toukan’s Jabbar Internet Group and other prominent angel investors.
“We’ve been very pleased with our growth; we continue to onboard users every day for different use cases. We’ve seen people use Ziina to send money to loved ones, buy used furniture and pay for freelancers’ services,” Mr Toukan said.
Once users download Ziina, they complete a sign-up process by verifying their phone number and linking their bank account to the app. To send money, they search for the other person by name, enter the amount and confirm the transaction.
“Depending on which bank you have connected with, the first time you send money to someone, your bank may conduct a security check that can take up to 24 hours,” Mr Toukan says. “Every transaction you send to that person afterwards is processed instantly by Ziina. The money usually hits the recipient’s account within an hour, but sometimes this can take up to one business day.”
The social payment app does not require users to key in the beneficiary’s IBAN or Swift codes, but both parties need to have downloaded the app. Nor does Ziina take any fees, he adds – as opposed to banks, which often charge up to Dh1 per transfer. Mr Toukan says the app offers bank-grade security and end-to-end encryption and does not hold users’ money.
We've seen people use Ziina to send money to loved ones, buy used furniture and pay for freelancers' services
Many expats living in the UAE are already familiar with P2P payment services, such as Venmo and Cash App in the US and Tikkie in the Netherlands.
Dubai resident Becky Jefferies, a marketing director for a Silicon Valley-based financial technology (FinTech) company active in the Mena region, has used the Ziina app several times. Although she feels it could benefit from a refined interface, she says her experience has been seamless and simple, and she has been encouraging her circle of friends to download and try the app.
“I’ve been advocating it to my friends because it makes splitting bills [or trip costs or whatever you need to pay someone for] so much easier,” Ms Jefferies says. “I was an avid user of Venmo before I left the US in 2015 and I can’t believe it’s taken this long for something similar to become available in this region.”
P2P apps are relatively recent arrivals to the UAE, although they offer a way to improve financial inclusion among the underbanked segment. A June survey by the Central Bank of the UAE estimates that 15 per cent of the country has no access to any financial services and is “financially excluded”. The survey interviewed 5,134 people over the age of 15 years. About 39 per cent of those polled do not have a bank account compared with 31 per cent worldwide.
Mobile payment apps, not all of which require the user to have a bank account, can help bridge this gap, since more than 92 per cent of UAE residents have smartphones, according to YouGov.
It [Ziina] makes splitting bills (or trip costs or whatever you need to pay someone for) so much easier
“The average age of an individual in the Middle East is 27 years,” Mr Toukan says. “That is ridiculously low. At the same time, mobile penetration is through the roof. We have the infrastructure; it’s about time that someone built a financial application catered towards the region’s youth. Something that’s easy, intuitive and somewhere where people can park their finances.”
A recent Deloitte survey found that 82 per cent of Middle Eastern banking customers are keen on adopting FinTech products, but many lenders have yet to integrate available products into their networks. Only about 22 per cent of those surveyed – of 1,500 people in nine Mena countries – currently use FinTech products. Adoption is principally led by consumers in their 20s.
Mr Toukan says the region’s financial services market is rapidly approaching a watershed moment. “We’re at a significant inflection point in Mena when it comes to financial applications – as a result, the applications you interact with on a daily basis will be different in the next two years. The collision of open regulation and newly built infrastructure throughout the region has brought about the opportunity for consumer-facing FinTech platforms to come to life in the region.”
He expects companies of all stripes, from telcos and banks to start-ups, will soon move into the P2P space.
Several other players have either rolled out products or are building new apps to offer financial solutions that meet contemporary requirements.
In June, Abu Dhabi-based FinTech PayBy announced a partnership with global payment solution uPay to service over 850 self-serve kiosks across the UAE. The integration lets users top up their digital wallets by adding cash to their accounts, as well as conduct e-commerce transactions and make cashless payments and P2P transfers, according to a company statement. PayBy is also integrated into popular instant messaging platforms such as TikTok and Botim.
In Dubai, three former Google professionals are developing another P2P app called Mamo Pay. The app will also allow users to send money to other individuals and businesses and will not charge transaction fees. The company announced an investment of $1.5 million in seed investment this April.
To stay ahead of the competition, Mr Toukan and his team have already begun onboarding small businesses to broaden the app's usage.
Among their partners is Sultana’s, a Dubai-based boutique bakery. Founder Maha Jaleel says receiving payments has been a core pain point for her business, and the app allowed her to circumvent the issue. “Furthermore, other apps have high commissions and are not feasible for small businesses like mine,” she says.
Ms Jaleel says she was encouraged to offer the app as a mode of payment after hearing about other people’s experiences with similar apps in other markets. She now offers consumers a Dh35 discount if they book through Ziina. “Within a week of partnering with Ziina, approximately 60 per cent of my customers were using the app for their payments. Many of these repeat customers have continued to pay via the app despite the offer being only for the first order,” she says.
Over time, Mr Toukan hopes to add other services. These include remittance solutions, fractionalised solutions into different asset classes, including equities and cryptocurrencies, as well as a Ziina payment card. Many of these ancillary services will attract a small fee, which is how Ziina will eventually turn a profit – although Mr Toukan does not expect this to happen for some time.
“We see our future in autonomous finance, or self-driving money, where users essentially park their money in Ziina,” Mr Toukan says. Self-driving finance is a relatively new concept that turns finance into a service. It enables users to set financial targets, while the platform, typically enabled by artificial intelligence, figures out how to get there safely and within the shortest possible time via a range of connected FinTech services, such as robo-advisers and data-enabled strategic trading.
“So, for example, you pay for your groceries or whatever using Ziina. You’ll then have the automatic capability to transfer any remaining money into your savings or into equities. This is the future of finance,” Mr Toukan adds.
The Specs:
The Specs:
Engine: 2.9-litre, V6 twin-turbo
Transmission: 8-speed automatic
Power: 444bhp
Torque: 600Nm
Price: AED 356,580 incl VAT
On sale: now.
UAE currency: the story behind the money in your pockets
ABU%20DHABI%20CARD
%3Cp%3E%0D%3Cstrong%3E5pm%3A%3C%2Fstrong%3E%20Al%20Rabi%20Tower%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(Turf)%201%2C400%0D%3Cbr%3E%3Cstrong%3E5.30pm%3A%3C%2Fstrong%3E%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E6pm%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Championship%20%E2%80%93%20Listed%20(PA)%20Dh180%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E6.30pm%3A%3C%2Fstrong%3E%20Hili%20Tower%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%202%2C200m%0D%3Cbr%3E%3Cstrong%3E7pm%3A%20%3C%2Fstrong%3EUAE%20Arabian%20Derby%20%E2%80%93%20Prestige%20(PA)%20Dh150%2C000%20(T)%202%2C200m%0D%3Cbr%3E%3Cstrong%3E7.30pm%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Championship%20%E2%80%93%20Listed%20(TB)%20Dh380%2C000%20(T)%202%2C200m%3C%2Fp%3E%0A
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
How%20I%20connect%20with%20my%20kids%20when%20working%20or%20travelling
%3Cp%3E%0D%3Cstrong%3ELittle%20notes%3A%20%3C%2Fstrong%3EMy%20girls%20often%20find%20a%20letter%20from%20me%2C%20with%20a%20joke%2C%20task%20or%20some%20instructions%20for%20the%20afternoon%2C%20and%20saying%20what%20I%E2%80%99m%20excited%20for%20when%20I%20get%20home.%0D%3Cbr%3E%3Cstrong%3EPhone%20call%20check-in%3A%20%3C%2Fstrong%3EMy%20kids%20know%20that%20at%203.30pm%20I%E2%80%99ll%20be%20free%20for%20a%20quick%20chat.%0D%3Cbr%3E%3Cstrong%3EHighs%20and%20lows%3A%20%3C%2Fstrong%3EInstead%20of%20a%20%E2%80%9Chow%20was%20your%20day%3F%E2%80%9D%2C%20at%20dinner%20or%20at%20bathtime%20we%20share%20three%20highlights%3B%20one%20thing%20that%20didn%E2%80%99t%20go%20so%20well%3B%20and%20something%20we%E2%80%99re%20looking%20forward%20to.%0D%3Cbr%3E%3Cstrong%3EI%20start%2C%20you%20next%3A%20%3C%2Fstrong%3EIn%20the%20morning%2C%20I%20often%20start%20a%20little%20Lego%20project%20or%20drawing%2C%20and%20ask%20them%20to%20work%20on%20it%20while%20I%E2%80%99m%20gone%2C%20then%20we%E2%80%99ll%20finish%20it%20together.%0D%3Cbr%3E%3Cstrong%3EBedtime%20connection%3A%20%3C%2Fstrong%3EWake%20up%20and%20sleep%20time%20are%20important%20moments.%20A%20snuggle%2C%20some%20proud%20words%2C%20listening%2C%20a%20story.%20I%20can%E2%80%99t%20be%20there%20every%20night%2C%20but%20I%20can%20start%20the%20day%20with%20them.%0D%3Cbr%3E%3Cstrong%3EUndivided%20attention%3A%20%3C%2Fstrong%3EPutting%20the%20phone%20away%20when%20I%20get%20home%20often%20means%20sitting%20in%20the%20car%20to%20send%20a%20last%20email%2C%20but%20leaving%20it%20out%20of%20sight%20between%20home%20time%20and%20bedtime%20means%20you%20can%20connect%20properly.%0D%3Cbr%3E%3Cstrong%3EDemystify%2C%20don%E2%80%99t%20demonise%20your%20job%3A%20%3C%2Fstrong%3EHelp%20them%20understand%20what%20you%20do%2C%20where%20and%20why.%20Show%20them%20your%20workplace%20if%20you%20can%2C%20then%20it%E2%80%99s%20not%20so%20abstract%20when%20you%E2%80%99re%20away%20-%20they%E2%80%99ll%20picture%20you%20there.%20Invite%20them%20into%20your%20%E2%80%9Cother%E2%80%9D%20world%20so%20they%20know%20more%20about%20the%20different%20roles%20you%20have.%3C%2Fp%3E%0A
Venue: Sharjah Cricket Stadium
Date: Sunday, November 25
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
UAE currency: the story behind the money in your pockets
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Sunday's Super Four matches
Dubai, 3.30pm
India v Pakistan
Abu Dhabi, 3.30pm
Bangladesh v Afghanistan
MATCH INFO
Champions League last 16, first leg
Tottenham v RB Leipzig, Wednesday, midnight (UAE)
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%203.0-litre%20six-cylinder%20turbo%20(BMW%20B58)%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20340hp%20at%206%2C500rpm%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20500Nm%20from%201%2C600-4%2C500rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20ZF%208-speed%20auto%3Cbr%3E%3Cstrong%3E0-100kph%3A%3C%2Fstrong%3E%204.2sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20267kph%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh462%2C189%3Cbr%3E%3Cstrong%3EWarranty%3A%3C%2Fstrong%3E%2030-month%2F48%2C000k%3C%2Fp%3E%0A
Results
6.30pm: Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m, Winner: RB Money To Burn, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)
7.05pm: Handicap (TB) $68,000 (Turf) 2,410m, Winner: Star Safari, William Buick, Charlie Appleby
7.40pm: Meydan Trophy – Conditions (TB) $50,000 (T) 1,900m, Winner: Secret Protector, William Buick, Charlie Appleby
8.15pm: Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m, Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
8.50pm: Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m, Winner: Zakouski, William Buick, Charlie Appleby
9.25pm: Handicap (TB) $65,000 (T) 1,000m, Winner: Motafaawit, Sam Hitchcock, Doug Watson
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
