Navigating Opportunities in the MENA: Cultivating a Smart Mobility Ecosystem

HONG KONG SAR - Media OutReach Newswire - 29 October 2024 - Mobile Shop Group Limited ("Mobile Shop" or the "Company"), a Hong Kong based taxi management and operation company, is pleased to announce a collaboration with Zand Bank, the United Arab Emirates (UAE)'s fully licensed all-digital bank, to provide "Smart City Innovation Solutions" in the Middle East & North Africa Region (MENA) via CabCab, a subsidiary brand of Mobile Shop, in building a smart transportation ecosystem.

Transportation is an integral part of daily life, underscoring the critical importance of advancing "smart mobility" initiatives in the UAE and Hong Kong, both recognized leading hubs of financial technology (FinTech). Leveraging on the partnership, CabCab delivers a comprehensive suite smart transportation solution for transportation in the MENA region, including smart taxi metre, e-payments, financial services, as well as providing taxi radio calls and a positioning system.

Mr. Sam Hui Kin-sang, CEO of Mobile Shop, said, "We are honoured to partner with Zand Bank. We believe that the partnership provides a breakthrough for the 'smart mobility' in the MENA region, thereby solidifying strong foothold for both parties at the forefront of FinTech revolutions. By integrating secured digital payments into our 'Smart City Services,' we are committed to delivering a more convenient and efficient experience for users. Looking ahead, we will actively integrate the relevant ecosystem into transportation modalities beyond traditional taxis, enabling citizens to reap the benefits of 'smart mobility.'"

Mr. Michael Chan, CEO of Zand Bank, said, "We are excited to partner with Mobile Shop to drive innovation in smart city solutions and shape the future of urban technology."

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Hashtag: #MobileShop #ZandBank #SmartMobility

The issuer is solely responsible for the content of this announcement.

CabCab – Operation and Business Development by Mobile Shop Group Limited

Mobile Shop Group Limited mainly specializes in the operation, promotion, and business development of taxi services in Hong Kong. The company is dedicated to leveraging technology in collaboration with partners to address industry pain points. It focuses on adapting to Hong Kong's unique traffic conditions and introduces the smart meters, which enhance the quality of taxi services and foster a sustainable industry ecosystem, as well as enable the public to embrace the advantages of "smart mobility."

CabCab, a subsidiary brand of Mobile Shop, is committed to integrating technology into daily life, as well as providing more comprehensive and accurate real-time information on road and data analysis.

Zand Bank

Zand Bank is a fully licensed bank by the Central Bank of UAE since July 2022. Our mission is to enable our UAE and global corporate, institutional, and wealth clients to unlock new opportunities, foster sustainable growth, and drive together positive impact in the evolving digital economy. Think beyond banking; think Zand, where infinite opportunities await.

For more information, please visit www.zand.ae