AGP Executive Report

Digital Assets & Payments: Standard Chartered and Circle launched bank-led USDC minting and redemption for eligible institutional clients via DIFC, aiming to simplify onboarding and expand access beyond direct Circle accounts. Healthcare Finance & Infrastructure: Abu Dhabi Biobank and Bascom Palmer Eye Institute will establish the Middle East’s first eye bank in Abu Dhabi, boosting corneal transplant capacity across the UAE and region. SME Insurance Digitisation: Mashreq and Sukoon embedded SME insurance into MashreqBiz, letting businesses buy workmen’s compensation and third-party liability coverage digitally. Capital Markets: Bank of Cyprus won two EMEA Finance awards for its €300m Tier 2 bond issue, highlighting strong institutional demand. Regional Investment Flows: Saudi Venture Capital Company said foreign private-market inflows hit SR20bn in 2025, with international investors increasingly treating Saudi as a standalone destination. Oil, Liquidity & Sanctions Watch: Iran’s oil stockpile at sea is growing as buyers remain cautious ahead of the US 60-day window, while oil prices slid toward $70 as US-Iran indirect talks showed “positive progress” but no lasting peace. Iraq FX Controls: US reportedly resumed some dollar transfers to Iraq after earlier suspensions tied to pressure over Iran-backed militias. Middle East FinTech Angle: Franklin Templeton is expanding in Qatar via a QFC entity to deepen Doha’s asset-management role.

Saudi Energy & Storage: Saudi Arabia prequalified 27 firms for a second round of 12 GWh battery storage projects (3 GW/12 GWh total) under a Build-Own-Operate model, aiming to boost grid reliability and renewable integration. Saudi FinTech: Tabby secured consumer and SME finance licences in Saudi Arabia, signaling deeper expansion in local lending. Iran-US MoU & Frozen Assets: Indirect US-Iran technical talks in Doha wrapped up with progress on implementation steps, including a plan to use part of Iran’s frozen $6bn for humanitarian goods and a direct monitoring communication channel. Strait of Hormuz Focus: Talks centered on commercial shipping and incentives for Iran, while nuclear issues were deferred to later discussions. Iraq Anti-Corruption Drive: Iraq arrested 67 officials in Green Zone raids tied to corruption cases, with promises of continued action and public trials. Gulf Sovereign Wealth: Gulf sovereign funds logged a record first-half $53.9bn across 108 deals despite Iran-war volatility. Telecom Investment: Zain won a 25-year Syria mobile licence (20 years + extension), with plans to invest $800m over 10 years and roll out 5G and AI-enabled tech. UK Trade Pressure: The UK is weighing coordinated restrictions on goods from Israeli settlements in the West Bank, amid complex EU legal hurdles. Banking/Real Estate Lens: Bank Hapoalim CEO warned Israel’s next government faces the defense budget as a key driver of living standards, with business resilience noted during the war.

US-Iran Talks & Markets: Iran says it will not meet top US envoys in Doha and wants ceasefire terms settled first, keeping the Strait of Hormuz reopening and oil supply in focus; oil prices swung as investors weigh supply risk versus negotiation progress. Iraq’s Fintech/Infra Push: Region Trade Bank overhauled its board with international financial-integrity and sanctions experts as Iraq’s banking connectivity grows; Iraq also moved to market cross-border internet transit capacity via a Qatar deal, aiming to position itself as a regional data corridor. Crypto & Sanctions: Israel Katz announced sanctions on 37 IRGC-linked crypto wallets, while the US and GCC coordinated actions targeting Hezbollah’s financial infrastructure. Islamic Finance Deal: BlueFive Capital and Al Murjan completed a transaction to create BlueFiveSidra, building a global Sharia-compliant asset platform across the GCC and parts of Southeast Asia. Energy Transition in Saudi: Saudi Arabia qualified 27 firms for the next round of BESS projects, prequalifying six utility-scale storage projects totaling 3,000MW. Development Finance: The World Bank approved a $700m loan for Jordan to unlock private investment and jobs, including green and digital reforms. UNRWA Funding Pressure: Türkiye and Palestine’s envoy urged stronger political and financial support for UNRWA amid escalating political pressure and funding shortfalls.

Sanctions & Compliance: The US and GCC’s Terrorist Financing Targeting Center moved to designate Hezbollah’s financial institutions and senior officials, aiming to curb access to the international financial system. Iran-US Talks (Doha): Iran says it won’t meet US envoys in the coming days, even as technical talks continue under Qatar’s mediation, leaving the ceasefire and any nuclear limits unresolved. Iraq Anti-Corruption Crackdown: Iraq’s “Dawn Crackdown” continues with court-ordered damages in a lawmaker case, arrests tied to refinery corruption confessions, and recovery of about $12M in an airline probe. Iraq Labor & Refining Oversight: An MP flagged around 1,000 unpermitted foreign workers at Karbala’s refinery and questioned multimillion-dinar contracts, pushing for further integrity checks. Banking & Governance: Region Trade Bank appointed a new board of global financial-integrity and sanctions leaders to strengthen governance as Iraq modernises its financial sector. Digital Assets in the Region: Sygnum Europe expanded EU access under MiCAR/CASP licensing, while Petrofibre Arabia promoted fibre-optic monitoring for Saudi pipeline integrity—both pointing to fintech-adjacent infrastructure momentum. Egypt Macro Finance: The IMF cleared a path for a $1.6bn disbursement under its Egypt programme, as inflation and financing risks remain in focus.

Egypt Startup Funding: BrainsMingle, an Egypt-based AI video-first professional networking platform, raised a $400,000 seed from BasharSoft Group to expand its payments, booking and community features. Qatar-Türkiye Connectivity: Es’hailSat signed a strategic partnership with Türksat and a contract with Thales Alenia Space for Es’hail-3/Türksat-Biruni, a Ka-band high-throughput satellite aimed at boosting secure sovereign connectivity across MENA, Europe and Africa. Iraq Anti-Corruption Push: Iraq’s new PM Ali al-Zaidi is driving “Dawn Crackdown” style arrests and cash seizures, including reports of $15m found at a lawmaker’s home, as authorities target corruption across political lines. Banking & Capital Markets: QNB Group will sponsor APLMA’s 2026 conference in Singapore, focusing on the Asia–Middle East lending corridor and cross-border financing themes. Telecom Expansion: Zain Kuwait secured a 20-year licence to operate a mobile network in Syria via a 75/25 structure with Syria’s sovereign fund, taking over MTN Syria infrastructure. Saudi Real Estate IPO: Arabian Romoz plans a Nomu float of 11.95% (950,000 shares) for qualified investors. Digital Finance Growth: Tabby won SAMA approval for SME lending and higher-value financing. Regional Markets Mood: UK FTSE 100 edged higher for a sixth straight quarter as investors weighed Middle East ceasefire optimism.

Middle East Markets & Energy: Wall Street surged and oil steadied after the US and Iran stood down from weekend attacks, with investors watching whether Strait of Hormuz disruptions ease and whether Doha talks move the interim peace deal forward. Iraq Anti-Corruption & Finance: Iraq’s anti-graft drive escalated with major money-laundering convictions and asset seizures tied to the Oil Ministry, while the government set Sept 30 deadlines for pro-Iran armed groups to disarm—signals that could reshape risk and capital flows. Strait of Hormuz Watch: Analysts warned Iran is unlikely to relinquish strategic leverage even as shipping continues, keeping insurers, traders and FX markets on edge. Palestinian Territories: Gaza and the West Bank saw fresh strikes and raids despite ceasefire claims, while UN chief António Guterres condemned “relentless” settlement expansion and warned E1 plans could sever West Bank contiguity. Egypt FinTech/Finance Angle: Egypt’s Bibliotheca Alexandrina unveiled locally made archival paper from cotton waste—an innovation story that underscores supply-chain resilience and local manufacturing capacity.

Iraq Power Build-Out: Iraq plans to sign contracts for 25GW of new electricity generation capacity this year as it prepares its 2027 budget with programme-based spending. Iraq Anti-Corruption Push: Iraq says it will pursue “no immunity” for corrupt officials after arrests of 67 people, including lawmakers, tied to financial corruption and illicit trade. Iraq Banking Snapshot: Iraq’s bank deposits slipped to $66.8B in early 2026, while total credit also declined, according to Central Bank data. Saudi Cash/Gold Rules: Saudi ZATCA cut the traveller declaration threshold to SAR 40,000 for cash, gold and other valuables, requiring disclosure on arrival and departure. Gulf Sovereign Investing: Middle East sovereign investors are prioritising energy security and critical infrastructure as volatility rises. Trade Finance in Focus: Maalexi and RXIL Global expand access to trade finance for Indian agricultural exporters via a regulated platform. Banking Leadership: Bahrain’s Khaleeji Bank appoints Razi Almerbati as CEO from Aug 17. Market Mood: US and Iran ceasefire talks eased risk sentiment, lifting futures and helping oil cool after earlier spikes. Cybersecurity: ESET supported disruption of the Amadey botnet and Stealc infostealer in a coordinated global operation.

Iran–US escalation and sanctions patchwork: The US hit Iranian military targets after Tehran struck shipping in the Strait of Hormuz, throwing talks into doubt and leaving governments, banks and firms to navigate a fast-changing mix of permissions and restrictions. Strait of Hormuz risk to energy flows: Shipping firms warned of “new normal” operational chaos as routing directives conflict and crude export activity resumes, keeping oil-price volatility front and centre. Gulf finance and compliance pressure: The sanctions unwind is creating a “head-spinning” environment for risk teams and compliance-heavy lenders as waivers and scheduled removals roll out. Egypt privatization push: Egypt approved preliminary listings of four state-owned companies (including energy firms) ahead of share sales on the Egyptian Exchange, aiming to deepen private participation under its IMF-backed reform plan. Saudi workforce admin update: Saudi Arabia’s Qiwa set a June 30 deadline to regularize expired work permits, with automatic removal from employer records if permits stay expired for over three months. Egypt offshoring drive: Egypt is putting digital freelancers at the centre of its offshoring strategy, citing a large talent pipeline and growing global demand for cross-border services. AI finance risk warning: The BIS flagged vulnerabilities tied to AI-related financing, warning that compressed risk premia and leveraged funding could amplify a bust if returns disappoint. Iraq anti-corruption raids: Iraqi forces carried out major Green Zone raids targeting senior officials over alleged financial corruption, underscoring governance and enforcement themes that can spill into business confidence.

Iraq Anti-Corruption Crackdown: Iraqi security forces sealed Baghdad’s Green Zone and carried out raids targeting MPs and politicians over financial and administrative corruption, with arrests reported after judicial warrants. Hormuz, Crypto and Shipping Fees: Iran says it will reopen and control the Strait of Hormuz, proposing a $1-per-barrel transit fee payable via Bitcoin or stablecoins, while also pushing Iran-approved routes and permits for foreign vessels—raising fresh risks for global shipping and crypto markets. UAE Financial Compliance: The UAE Central Bank expanded rules for dormant accounts and unclaimed funds, requiring institutions to document outreach efforts and transfer unresolved balances to the central registry. Iraq Energy Financing Plan: Iraq’s PM says talks with the US could create an Energy and Development Fund mobilising up to $400bn over 30 years for infrastructure and power projects, with accounts held at leading US banks. Iran Inflation Surge: Iran’s official stats agency put June year-on-year inflation at 88.6%, driven by sharp food price jumps amid war fallout. Saudi-China Logistics Push: Saudi Arabia expanded transport and logistics ties with China via smart-mobility agreements and dozens of investment opportunities showcased in Shanghai. Turkey Power Mix Record: Turkey hit a 26-year high for renewables’ share of electricity generation in May, with solar and wind surpassing coal for a second straight month.

Israel-Iran diplomacy: Netanyahu says Israel will send a delegation to Washington to raise security concerns over any long-term U.S.-Iran nuclear agreement, while reiterating its southern Lebanon “security zone.” Strait of Hormuz wording fight: Oman and Iran keep discussing future navigation administration and costs, as Trump claims Iran is “collapsing financially” over the closure. FX pressure in Iran: Iran’s rial reportedly weakens again after a brief post-deal rebound. Lebanon ceasefire uncertainty: Lebanon and Israel sign a U.S.-brokered framework, but Hezbollah rejects it as “null and void,” warning of sovereignty and disarmament red lines. Iraq fuel market strain: Fuel station owners allege “daily theft” in tanker deliveries and say fines hit them despite shortages. Egypt SME finance: MSMEDA says it has injected EGP 79.6bn in financing since 1991, supporting millions of projects and jobs. Egypt innovation push: Planning and higher education officials discuss a start-up financing roadmap and an entrepreneurship unit under the Cabinet. Energy & environment: World Bank data shows gas flaring rose to a six-year high in 2025, reversing earlier progress.

Asset Recovery Rules: Saudi Arabia approved a law for preserving and managing seized assets in money-laundering and terrorism-financing cases, aiming to boost transparency and protect public and private interests. Banking Resilience: Iran’s banks are again disrupting services, with reports of outages across major lenders and card/mobile banking, amid claims of cyberattacks and restricted access to protect customers. Regional Finance & Markets: Global markets stayed jittery as Middle East shipping risks and US-Iran strikes fed uncertainty; oil and gold slipped while Bitcoin also came under pressure. US-Iran Deal Watch: The US and Iran’s interim MoU is being framed as a ceasefire-and-negotiations bridge, while Gulf officials stress that any Strait of Hormuz tolls or control must be rejected. Lebanon-Israel Framework: Lebanon and Israel signed a US-brokered framework for “lasting peace and security,” linking phased security steps to sovereignty and arms control. Development Finance: The World Bank approved $1.1bn for Bangladesh to secure fertilizer and fuel imports and protect food security, citing Middle East-driven price shocks. Crypto/Payments Angle: FIFA’s World Cup is drawing crypto and fintech chatter, with coverage noting crypto’s growing presence around the tournament.

Strait of Hormuz Shock: The US says it struck Iranian military targets after Tehran allegedly fired one-way drones at a Singapore-flagged cargo ship near Oman, threatening the fragile US-Iran ceasefire and raising shipping risk in the Persian Gulf. Gulf Diplomacy: US Secretary of State Marco Rubio toured Kuwait, the UAE and Bahrain to reassure GCC allies that any Iran framework won’t undermine Gulf security, while Iran warned it could control Hormuz and rejected “tolls” language. Sanctions & Markets: Oil slid as the ceasefire narrative supported risk appetite, while investors digested uncertainty around enforcement and energy flows. Iraq Fiscal Tensions: Iraq’s dispute over roughly $140bn in missing public revenues is intensifying amid corruption probes and pressure on salaries as exports remain hit by Hormuz disruption. Banking/FinTech: dLocal was added to the Russell 2000 index, a boost for institutional visibility in emerging-market payments infrastructure. Crypto Compliance: Libya dismantled a cross-border online fraud network targeting Libyan bank customers, laundering nearly LYD 10m. Property & Capital Flows: London luxury sales are rebounding as Middle East buyers return, with some deals using short-term Sharia-compliant loans.

Gulf-Iran Diplomacy: Iran’s foreign ministry rejected a US-GCC statement after Rubio’s Manama push to harden the Gulf stance on missiles, drones and Strait of Hormuz navigation, while warning Tehran is still pressing its own control claims. Hormuz Shipping Risk: Iran reportedly struck a Singapore-flagged cargo vessel near Oman, and the UN paused escort operations after the attack; the dispute also reignited arguments over whether the Strait will be “toll-free” or effectively controlled by Iran. Crypto & Compliance: Coinbase’s Base said it now hosts 25+ local-currency stablecoins, while CoinEx hit back at a Wall Street Journal report alleging $3.84bn in Iran-linked flows, citing compliance steps and denying ties to sanctioned Iranian entities. Capital Markets: Nasdaq Dubai welcomed a $500m Arab Energy Fund sukuk listing; Qatar’s QSE ended the week down 2.18% ahead of Q2 earnings. Banking/Policy: Nigeria’s central bank ordered banks to freeze terrorism-financier accounts after US sanctions on an ISIS-linked financier and BDCs. Energy/FX Spillovers: Oil slid over 2% as supply outlook outweighed tensions; the US dollar strengthened into H2, and Egypt signed an MoU for its first wind turbine factory plus a 2GW Gulf of Suez wind project.

Hormuz Security & Shipping: GCC and the US reaffirmed the need to reopen the Strait of Hormuz with “free, unconditional, and unrestricted navigation,” rejecting any tolls or attempts to control the waterway, while welcoming Oman and the IMO’s evacuation plan for 11,000 stranded seafarers—though the IMO paused it after a vessel attack in the Gulf of Oman. Iran-US MOU Fallout: Iran’s parliament speaker Mohammad Bagher Ghalibaf rejected US claims that unfrozen Iranian assets would be used to buy American agricultural products, while the US also denied discussion of a $300bn Iran reconstruction investment fund at GCC talks. Iraq Digital Transit: Iraq signed a deal with Qatar’s GBI to market cross-border internet transit using its “Civilizations Road” fiber corridor under an IRU model, positioning Baghdad as a digital transit hub for Gulf-to-Europe traffic. Iraq OPEC Pressure: Iraq is considering leaving OPEC unless its oil quota is raised, citing financial strain after Hormuz disruptions. Kuwait Capital Markets: Kuwait’s Ministry of Finance won “Deal of the Year” for its sovereign bond issuance, highlighting strong investor demand and improved public debt management. Fintech Expansion (Turkey): Kaspi.kz received Turkey’s BDDK approval to acquire Rabobank A.Ş., targeting completion in July 2026 and expanding its digital payments and super-app services. Real Estate (Saudi): Jadwa Investment launched two Makkah real estate funds worth up to SAR 10bn under RCMC oversight, aimed at redevelopment near the Holy Mosque.

US-Iran Budget Push: The White House asked Congress for $87.6bn in supplemental funding, with about $67bn for the Pentagon, as lawmakers weigh war powers and the shaky Iran ceasefire framework. Gulf Investor Mood: Dubai is rolling out support after the Iran-war shock, including a 2.5bn dirham liquidity push, while Standard Chartered flags easing risk premiums as a tailwind for UAE investor sentiment. Rubio Gulf Tour: US Secretary of State Marco Rubio is in Bahrain to reassure GCC allies on security and the Iran deal, even as disputes over Strait of Hormuz tolls and nuclear inspections persist. Oil Market Slide: Brent is back below pre-Iran-war levels on expectations of smoother Hormuz flows and possible oversupply, with tankers traffic rising. Iraq-OPEC Pressure: Iraq says it may consider “all options” if its OPEC quota isn’t raised, amid a financial squeeze tied to the Iran war. Egypt Capital Markets & SME Finance: EGX received Enppi’s request to list on the main market, while MSMEDA and EGX signed a protocol to expand MSME access to financing tools and digital platforms. Egypt Economy & Prices: Egypt reported 5% Q3 FY2025/26 growth; food and vegetable prices fell on June 24, while gold and silver prices also dropped. Crypto Sanctions Risk: TRM Labs/WSJ reporting alleges CoinEx routed $3.84bn in Iran-linked crypto flows to evade sanctions, putting more pressure on regional compliance. Turkey Municipal Crackdown: Turkish police detained 24 suspects, including district mayors, in a bribery and fraud probe tied to municipal construction and zoning.

US-Iran Talks & Hormuz: Technical talks between the US and Iran are set to resume next week with Pakistan’s attendance, as both sides trade conflicting claims on nuclear inspections and whether Iran seeks any Strait of Hormuz tolls—while Gulf states push for any future strait arrangement to be discussed with regional stakeholders. Sanctions & Oil Flows: OFAC issued Iran General License X, broadly easing restrictions for Iranian-origin crude and petroleum/petrochemical transactions for about two months, even as the US and Iran dispute deal terms and financial controls; the move is already feeding into softer oil prices and shifting energy market expectations. Gulf Diplomacy: US Secretary of State Marco Rubio toured the UAE and Kuwait to reassure skeptical Gulf allies about the proposed Iran deal, stressing it won’t undermine regional security. Egypt Macro & Finance: Egypt’s finance leadership flagged a push for a fairer global financing environment and debt sustainability reforms, while the government targets a ~78% debt-to-GDP ratio by June 2027 amid continued growth. Banking & Capital Markets: Casablanca Finance City and Istanbul Financial Center agreed to strengthen digital finance and investor connectivity; Al Baraka Bank Egypt also received multiple EMEA Finance awards for Sharia-compliant dealmaking. Regulatory/Compliance: UAE Central Bank fined a foreign bank for money-laundering rule breaches, underscoring tightening compliance expectations across the region. FinTech/Innovation Ecosystem: Investor interest in NBA Europe’s launch is described as “unprecedented,” including from Türkiye, highlighting how regional capital is backing new sports-and-digital finance plays.