Simplified Financial Solutions Company (“SiFi”), an affiliate of SiFi AlHulul Almubassatah, a Saudi Arabian EMI-licensed entity, has successfully completed the acquisition of Neya Technologies, a Dubai-based B2B expense management platform. Founded in 2023, Neya Technologies had been operating in stealth mode prior to this acquisition. With this strategic move, SiFi reinforces its mission to simplify […]
MoneyHash Partners with Foodics to Enhance Payment Solutions in the F&B Sector across Middle East and Africa
Foodics, the award-winning restaurant and payment technology company, has chosen MoneyHash, the region’s leading payment orchestration and revenue operations platform, to increase operational efficiency for restaurants and food service businesses across the MEA region. Foodics leads by driving innovation and empowering food and beverage (F&B) businesses to thrive in a constantly evolving market and over […]
Saudi Alrajhi Bank Achieves 19% Growth with Net Profits of 19,722 Million SAR in 2024
Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of the Board of Directors of alrajhi bank, announced that the bank achieved net profits of 19,722 million Saudi Riyals for the year 2024, reflecting a growth rate of 19% compared to 16,621 million Riyals in 2023. Total operating income reached 32,055 million SAR, with a growth of […]
STC Bank received approval from SAMA set to lunch Full Operations in the Saudi Arabia
STC Bank, a subsidiary of state-owned Saudi Telecom Company (stc Group), is set to launch operations as a full-fledged digital bank in the kingdom. The Saudi Central Bank (SAMA) has granted “no objection” for STC Bank to offer digital banking services to customers in the Gulf state. Formerly known as stc pay that mainly offered […]
BSF Capital Partners with BlackRock to Deliver Innovative Investment Solutions in Saudi Arabia
23rd January 2025, Riyadh, Saudi Arabia – Saudi Fransi Capital (BSF Capital), a leading Capital Markets Institution in Saudi Arabia, announced it is partnering with BlackRock, the world’s largest Asset Management firm.The collaboration aims to integrate BSF Capital’s deep local insights and market knowledge leveraging BlackRock’s global expertise in Asset Management and Investment Advisory services. […]
Cenomi Centers partners with Visa to enhance Loyalty Program and Consumer Payment Solutions in KSA
Riyadh, Saudi Arabia: Cenomi Centers, the leading owner, operator and developer of retail lifestyle destinations in Saudi Arabia, is pleased to announce a strategic partnership with Visa, a world leader in digital payments. This collaboration is set to transform Cenomi’s loyalty program, offering customers unparalleled offers, benefits and exceptional experiences. Under the partnership, Cenomi Centers will […]
SAMA Grants License to Nama United Financing Company, Expanding the KSA’s Finance Sector
The Saudi Central Bank (SAMA) has officially granted a license to Nama United Financing Company, enabling it to offer a range of financial services, including real estate finance, production assets finance, SME finance, finance leasing, and consumer finance. This move marks a significant milestone in Saudi Arabia’s financial ecosystem, increasing the total number of finance […]
Kudo Trade secures Mauritius FSC License as Broker showcases at iFX EXPO Dubai
Global – Kudo Trade, a leading innovator in global financial trading services, is proud to announce that it has been granted a prestigious license by the Financial Services Commission (FSC) of Mauritius. The license, numbered GB24203599, underscores Kudo Trade’s commitment to operating at the highest standards of regulatory compliance and delivering exceptional services to its clients […]
SAMA and Google sign agreement to launch Google Pay in Saudi Arabia in 2025
Riyadh, Saudi Arabia – January 16, 2025 The Saudi Central Bank (SAMA) has announced a strategic agreement with Google to introduce Google Pay in Saudi Arabia through the national payment system, mada. The service is set to launch in 2025, as part of SAMA’s ongoing initiatives to enhance the Kingdom’s digital payments ecosystem under the […]
Four MENA Countries Stand Out with their Highly Mature Fintech Strategies
Arab Advisors Group released a new research report exploring the growing fintech market in the Arab World. The report expands on the current fintech landscape in the Arab region, covering the fintech regulatory frameworks, licensing, legality of cryptocurrency, fintech goals and initiatives, challenges and governmental vision for the sector in 19 Arab countries. Moreover, Arab Advisors […]