Probably because the project will run on mostly Mena countries and they have a shaky history with legal system, the author may be nervous about if some government sees this and just decide to delete because of any little reason it disturbs them or even they can't understand what is going on and think about, lets ban this.

But for now, this countries never act on any crypto related things so it is a long shot.

Am I right if i presume this will be exclusive to the following list of countries?

Algeria, Bahrain, Djibouti, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Malta, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates, West Bank and Gaza, and Yemen. Ethiopia and Sudan are sometimes included.

Yes, why would they do an exclusive service, more country means more income. By the way, you should add Turkey to the country list because their team and most of their partners are based in Turkey even their head office located in Dubai.

is MenaPay going to add fiat gateway also?

If this happens, and the segment in which the Company operates is interesting to do to win more markets around the world, it is necessary to gradually expand to new currencies and new Countries, but initially to have USD and EUR as a priority

it's probably going to happen if the project is successful enough. but that will be further down the line.

yes is an interesting question, would be an interesting feature the addition of the fiat if they will do it i hope beyond the local currencies also put international ones like dollar, euro, pound

Their goal is to just use MenaCash but to achieve that they need a fiat exchange for sure, it's batter if they integrate it because you can't trade in fiat every token in every exchange

Wouldn't that need more banked people, in the videos they talk about how many people in this region is unbanked.

That's a valid point. Every crypto currency is measured in fiat money and unless the whole world makes the switch you need people investing fiat first.