Riyadh, Saudi Arabia – Arthur D. Little (ADL) has announced the signing of a Memorandum of Understanding (MoU) with Blossom Accelerator to officially launch the second phase of the ADL Startups Mentoring Initiative. This collaboration underscores ADL’s dedication to fostering innovation and supporting the burgeoning startup ecosystem in the region. Building on the success of […]
Quintes Protocol is set to redefine decentralized finance (DeFi) with its innovative no-depreciation cryptocurrency model. Now protected by a newly-secured Patent Cooperation Treaty (PCT) PCT/IB2024/061188 from the World Intellectual Property Organization (WIPO), this groundbreaking protocol offers a unique approach to perpetual asset growth, ensuring long-term value stability and positioning itself as a global disruptive force […]
Dubai, United Arab Emirates – Geidea, a leading provider of digital payment solutions in the Middle East, is set to launch its innovative SoftPos service in Egypt, following a successful two-year rollout in Saudi Arabia and later in the UAE. This expansion marks a significant milestone in Geidea’s strategy to drive digital transformation in the region, […]
Saudi-based Nice One Beauty Digital Marketing Company has announced its decision to proceed with an initial public offering (IPO) and the listing of its ordinary shares on the main Saudi Exchange (Tadawul). It will be done through the sale of a combination of existing and newly issued shares. A leading beauty and care e-commerce platform […]
Riyadh: Citigroup, one of the leading financial institutions in the US, has received approval to establish its regional headquarters in Riyadh, Saudi Arabia, marking a significant milestone in its expansion strategy within the Kingdom. According to an internal memo obtained by Reuters, the Wall Street giant secured the authorization from the Ministry of Investment Saudi […]
Riyadh, Kingdom of Saudi Arabia – 19 November 2024: Tarabut, the MENA region’s leading, regulated open banking platform, and Geidea, Saudi Arabia’s leading payments solutions provider, have entered a strategic partnership to explore and potentially develop tailored SME financing solutions, subject to regulatory approvals. Today, SMEs represent 1.3 million businesses in Saudi Arabia, and they […]
Riyadh, Saudi Arabia – November 19, 2024EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA) and an EFG Holding company, has announced the launch of its $300 million Saudi Education Fund (SEF). The private equity arm of EFG Hermes aims to establish a world-class K-12 education operator in the Kingdom […]
Jozo, a cutting-edge real estate fintech company, has unveiled its new digital platform in Saudi Arabia, offering individuals the chance to own fractional shares in real estate properties with unparalleled ease and transparency. This innovative platform is set to redefine property investment in the Kingdom by making real estate ownership more accessible and inclusive. With […]
Riyadh — Credit card loans by Saudi banks hit a record high of SR30.27 billion ($8.07 billion) in the third quarter of 2024, marking a significant 14.24 percent increase compared to the same period last year, according to data released by the Saudi Central Bank (SAMA). The surge in credit card borrowing reflects evolving consumer […]
The Saudi Central Bank (SAMA) has announced the issuance of new “E-Wallets Rules” to strengthen the regulatory framework governing Electronic Money Institutions (EMIs) and foster the development of the financial sector. The guidelines, now formally implemented, underscore SAMA’s commitment to enhancing the stability and security of the electronic money ecosystem, enabling EMIs to operate under […]