Binance has firmly established itself as a key player in the Middle East and North Africa (MENA) region. Through a mix of hyper-localisation, regulatory engagement, and innovation-first thinking, the platform has seen approximately 20 per cent growth in MENA since 2020.

At the heart of this effort is Bader Kalooti, regional growth and operations lead MENASAT, Binance, who is spearheading the company’s expansion across the Gulf, Africa, and beyond. In this exclusive interview, Al Kalooti breaks down how Binance is navigating diverse regional dynamics, strengthening regulation-first strategies, and unlocking the next wave of blockchain innovation.

Local relevance, global scale

The company’s consistent growth in MENA reflects its ability to adapt to a complex, varied landscape. “We have seen the Middle East quickly becoming an epicenter for crypto, a place where platforms and projects migrate to expand and launch their Web3 companies,” said Kalooti. “Each region is different, and we can see the community adapt and attract different aspects of the industry.”

He noted that Binance focuses on regulatory frameworks that enable full-service operations aligned with each country’s unique economic and technological priorities.

Strategic expansion: From UAE and Bahrain to Saudi and beyond

Binance made headlines by becoming the first global exchange to secure a Virtual Asset Service Provider (VASP) licence in the UAE and a Category 4 licence in Bahrain. The company is now taking a similarly proactive approach in emerging crypto markets like Saudi Arabia, Egypt, and Kuwait.

“The MENA region is a significant market for Binance and the Web3 industry for several reasons,” Kalooti explained. “It has a growing young population of 600 million people, with 60 per cent under the age of 30 who are tech-savvy, and 75 per cent smartphone penetration.”

For high-income economies, digital assets serve as a diversification tool. For lower-GDP countries, crypto presents opportunities to bridge financial inclusion gaps. “Remittance corridors present a significant opportunity primed for Web3 disruption, where there is around $150bn in outflows from the GCC,” he added. “Collaboration with banks, fintechs, and government bodies is vital to ensure compliance.”

Halal digital finance: Sharia-compliant innovation

Binance made a breakthrough with the launch of Sharia Earn, the platform’s first Islamic finance-oriented crypto product.

“When it comes to the next development in halal digital services, Sharia Earn will absolutely evolve and expand,” Kalooti said. “It addresses a complex, global need… and the product has to continuously adapt to meet the expectations of diverse communities.”

He noted that Binance will continue expanding token offerings and markets while adhering to Islamic finance principles. “This is just the beginning.”

Driving mass adoption through education

Binance has made education a cornerstone of its regional strategy. Its Arabic-language initiative Blockchain for Everyone and collaborations with institutions like ADGM Academy aim to close knowledge gaps.

“Education is a core priority for Binance, and something we take very seriously,” Kalooti said. “Even in high awareness markets there is fear of complexity, volatility, and safety due to low financial and technical literacy. Clear education through practical and real-world examples helps our users build trust.”

Cybersecurity: Navigating rising threats

As crypto adoption grows, so do the risks. Kalooti cited phishing attacks, impersonation scams, and deepfake-driven fraud as the most common cyber threats.

“Scammers love to exploit people’s growing interest in crypto and the trust they have in Binance,” he warned. “With the rise of AI and deepfake technology, these impersonations can look and sound shockingly real.”

To protect users, Binance promotes vigilance and has developed tools such as Binance Verify. “It allows users to input addresses, URLs, phone numbers, or usernames to quickly check whether they are legitimate or potentially fraudulent.”

Institutional appetite rising across Gulf sectors

From sovereign wealth funds and telecoms to fintechs, institutional interest in crypto is on the rise. “We see an increase in institutional adoption across the board,” said Kalooti.

He cited a 2023 partnership with Beyon Money in Bahrain, and a $2bn investment from Abu Dhabi-based MGX, as clear examples of how Binance is supporting industry players. “We are actively aiming to meet institutional demand by offering tailored services based on each sector’s individual need.”

Real-world use cases: Supply chains and healthcare

Blockchain’s most promising Gulf applications lie in areas like logistics and healthcare, according to Kalooti. “I’m most excited about how blockchain can bring transparency and traceability to food supply chain management and pharmaceutical logistics to ensure halal compliance, reduce counterfeiting, and build trust.”

In healthcare, he added, “decentralised records can be a game changer… secure, consent-based access to medical data can make healthcare more seamless and reliable.”

Ecosystem growth through partnerships

Beyond regulators, Binance sees universities, VCs, and incubators as vital to scaling blockchain innovation. “They all play different roles,” Kalooti said.

Incubators and VCs provide the infrastructure and funding for startups, while universities help build the future talent pipeline. He cited Binance’s collaboration with Gulf Colleges and Riyadh Chamber to expand blockchain education in Saudi Arabia as an example.

“The partnership focuses on workforce development… co-designing the curriculum, developing learning materials, and establishing certification programmes.”

What’s next: Binance and the Gulf’s digital economy

Looking ahead, Kalooti sees Binance playing a deeper role in enabling digital infrastructure across the Gulf.

“We see Binance being a key player in the Gulf’s digital economy, not just as an exchange but as part of the region’s financial infrastructure,” he said. “We are focusing on institutional engagement and supporting real-world use cases like cross-border payments, digital remittances, and DeFi participation.”

For Binance, it’s about “building responsibly and being part of a more connected, transparent, and future-proof financial system”.

A powerful magnitude 8.8 earthquake struck off Russia’s Far Eastern Kamchatka Peninsula on Wednesday, damaging buildings and generating tsunami waves up to 4 metres high.

Authorities reported several injuries in the remote Russian region, with strong aftershocks expected. The quake prompted tsunami warnings and evacuations across the Pacific, including in Japan, Hawaii, parts of the US West Coast, and several Southeast Asian nations.

In Kamchatka, ceiling panels were damaged at Petropavlovsk-Kamchatsky International Airport, but flights continued on schedule. The runway was reported to be in “satisfactory condition”. Passengers were briefly evacuated, with one person injured at the facility.

Japan, still scarred by a 2011 earthquake and tsunami, ordered evacuations along much of its eastern seaboard. In Hawaii, cars were seen leaving Waikiki Beach as Governor Josh Green urged residents to heed evacuation orders. US President Donald Trump advised Americans to remain alert for tsunami warnings.

The Philippines and Indonesia also issued tsunami advisories. Manila’s volcanology agency forecast waves of less than 1 metre, warning residents in more than 20 coastal provinces to stay away from shorelines. Indonesia’s meteorology agency issued alerts for parts of North Sulawesi, North Maluku, West Papua and Gorontalo, advising calm and caution but stopping short of ordering evacuations.

Tsunami alerts of varying levels were issued as far afield as China, Guam, Peru, and the Galapagos Islands off Ecuador.

The quake struck in one of the world’s most seismically active zones, raising fresh concerns over infrastructure resilience and emergency preparedness across the Pacific.

Aldar Properties reported a 24 per cent year-on-year increase in net profit after tax to Dhs4.1bn for H1 2025, driven by strong development sales, the recognition of a record revenue backlog, and continued expansion across its investment platform.

H1 revenue rose 42 per cent year-on-year to Dhs15.5bn, while gross profit grew 39 per cent to Dhs5.3bn.

EBITDA increased 38 per cent to Dhs5.3bn. Net profit before tax reached Dhs4.7bn, up 35 per cent year-on-year, with earnings per share rising 27 per cent to Dhs0.45.

In Q2 alone, Aldar recorded revenue of Dhs7.7bn, up 46 per cent year-on-year, and net profit of Dhs2.2bn, an increase of 25 per cent.

Group development sales hit Dhs18.3bn in H1 2025, up 31 per cent year-on-year, boosted by five new UAE project launches and robust demand for existing inventory.

The development backlog rose to a record Dhs62.3bn, including Dhs53.4bn in the UAE, providing strong visibility for revenue over the next two to three years.

Sales to overseas and expatriate customers reached Dhs14.7bn, accounting for 84 per cent of total UAE sales in H1.

In July, Aldar set a new benchmark with the Dhs400m sale of a mansion at Faya Al Saadiyat, while in May, a residential building in Mamsha Gardens was sold to Hong Kong’s Gaw Capital for Dhs586m, marking the firm’s first UAE investment.

Read: Abu Dhabi’s most expensive home: Aldar sells mansion for Dhs400m

Aldar Development revenue soars 50 per cent in H1

Revenue from Aldar Development rose 50 per cent year-on-year to Dhs11.3bn in H1 2025, with EBITDA increasing 47 per cent to Dhs3.3bn.

Q2 development revenue was up 54 per cent to Dhs5.6bn, as the group continued to execute its revenue backlog.

Project management services backlog hit Dhs86bn at the end of June, with Dhs56.9bn under construction.

UAE sales totalled Dhs17.5bn in H1 2025, rising 35 per cent year-on-year, with Q2 alone contributing Dhs9.0bn, up 32 per cent.

Internationally, Egypt-based SODIC contributed Dhs291m in revenue and Dhs536m in sales, with a backlog of Dhs6.6bn. In the UK, London Square added Dhs710m in revenue and Dhs362m in sales. London Square’s revenue backlog reached Dhs2.3bn, following multiple launches and acquisitions.

Aldar Investment delivers 18 per cent EBITDA growth

Aldar Investment reported H1 revenue of Dhs3.8bn, up 16 per cent year-on-year, with adjusted EBITDA increasing 18 per cent to Dhs1.6bn. In Q2, revenue rose 18 per cent to Dhs1.9bn, while adjusted EBITDA climbed 26 per cent to Dhs789m.

Assets under management reached Dhs47bn, supported by strategic acquisitions including commercial and residential properties in Masdar City.

High occupancy and strong rental growth across asset classes drove performance, with commercial assets at 99 per cent occupancy and residential at 98 per cent.

Retail EBITDA increased 12 per cent in H1 to Dhs277m, with Yas Mall occupancy at 98 per cent and footfall up 15 per cent.

Logistics EBITDA rose 14 per cent to Dhs35m, with further growth expected from newly acquired ALMARKAZ assets and upcoming cold storage facilities.

Hospitality occupancy stood at 70 per cent, with RevPAR up 3 per cent and ADR up 8 per cent. EBITDA declined 4 per cent year-on-year in H1 to Dhs171m, due to asset redevelopments.

Aldar Education’s EBITDA rose 9 per cent to Dhs127m, with enrolment reaching 37,000. Aldar Estates’ EBITDA increased 24 per cent to Dhs192m, driven by synergies across its integrated property and facilities management portfolio.

Robust balance sheet and liquidity

As of June 30, Aldar reported Dhs12.2bn in free cash and Dhs17.5bn in undrawn bank facilities.

A new Dhs500m revolving credit facility raised H1 capital generation to Dhs16.8bn. Customer net promoter score (NPS) rose by 27 per cent during Q2.

Aldar received an MSCI ESG rating upgrade to ‘A’ and was included in the FTSE4Good Index. The company also met its 2026 Emiratisation target ahead of schedule, with Emiratis now representing 44.6 per cent of its workforce.

Environmental achievements include a 30 per cent improvement in energy use intensity and a 24 per cent reduction in embodied carbon. Aldar also recycled 96 per cent of construction and demolition waste.

Aldar partnered with Emirates Steel to source hydrogen-based rebar for Abu Dhabi’s first net zero carbon mosque and signed a Fitwel-certified health-focused masterplan for Fahid Island, which also received LEED Platinum pre-certification.

Commenting on the results, Aldar chairman Mohamed Khalifa Al Mubarak said the company is well-positioned to capitalise on demand for high-quality real estate, supported by the UAE’s macroeconomic fundamentals and growing global profile.

Group CEO Talal Al Dhiyebi added that the company will continue to focus on scaling its development and investment platforms while aligning residential launches with market demand.

Dubai Taxi Company (DTC) reported a 33 per cent year-on-year rise in net profit to Dhs105.4m for Q2 2025, as rising passenger demand and expanded fleet operations supported top-line growth.

Revenue for the quarter grew 18 per cent to Dhs625.2m, with earnings before interest, tax, depreciation, and amortisation (EBITDA) rising 30 per cent to Dhs180.6m, reflecting stronger operational efficiency and lower promotional costs at subsidiary Connectech.

The EBITDA margin climbed three percentage points to 29 per cent in Q2 2025.

For H1, revenue rose 11 per cent to Dhs1.2bn and the EBITDA margin stood at 28 per cent.

The company’sboard approved an interim dividend of Dhs160.7m, or 6.43 fils per share, for H1 2025, in line with DTC’s policy to distribute at least 85 per cent of annual net profit in semi-annual payouts.

The dividend is scheduled for distribution in August.

DTC’s segment performance

DTC’s core taxi business posted Q2 revenue of Dhs539.7m, up 18 per cent year-on-year, driven by fleet expansion and high utilisation.

As of June, the operational taxi fleet stood at 6,210 vehicles, including 335 fully electric taxis.

The limousine segment generated Dhs30.5m in Q2 revenue, an 8 per cent increase year-on-year. Across the taxi and limousine business, DTC completed 13.6 million trips in the quarter, marking a 19 per cent jump over the same period last year.

The bus segment saw revenue decline by 12 per cent to Dhs31.3m due to changes in the revenue recognition cycle. The company clarified that the changes did not affect overall annual contract values.

Meanwhile, the delivery bike segment recorded the fastest growth, with revenue more than doubling year-on-year to Dhs18.2m, reflecting continued demand in the on-demand delivery space.

DTC’s total operational fleet rose 23 per cent year-on-year to 10,180 vehicles by the end of June.

Balance sheet and capital allocation

As of June 30, DTC maintained a cash balance of Dhs236m, including Wakala deposits, and reported a net debt-to-EBITDA ratio of 1.2x, underscoring a strong financial position.

Strategic Initiatives

A key highlight of the quarter was the onboarding of over 6,000 taxis onto the Bolt e-hailing platform, as part of a broader digital strategy to transition 80 per cent of taxi trips in Dubai to e-booking.

DTC also launched 200 all-electric BYD SEAL taxis through its partnership with Al-Futtaim Electric Mobility, reinforcing its goal of full electrification by 2040 in line with the UAE’s Net Zero 2050 target.

DTC and Bolt further deepened collaboration through a tie-up with talabat, offering talabat pro users exclusive ride discounts to integrate lifestyle and transport services.

Chairman Abdul Muhsen Ibrahim Kalbat said the results reflected “continued strength in DTC’s operating model” and its alignment with Dubai’s dynamic infrastructure and population growth.

CEO Mansoor Alfalasi highlighted growing demand for smart mobility and described the Bolt partnership as a key step toward building the UAE’s largest e-hailing ecosystem.

DTC expects growth to remain robust across all segments, supported by rising tourism, infrastructure investment, and its ongoing partnership with Dubai Airports.