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 […]
PayerMax, a leading global provider of payment solutions, has been named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony hosted on November 12 in Dubai. The award is a testament of PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa, as well […]
EdfaPay, a leader in electronic payment solutions, has announced a strategic partnership with OYAH!, a pioneering platform in social commerce that empowers Saudi businesses and customers through an innovative medium for sharing reviews, favorite purchases, exclusive offers, and cashback vouchers. This collaboration marks a significant enhancement to OYAH!’s customer experience, seamlessly integrating EdfaPay’s state-of-the-art payment […]
The agreement will entail the launch of distributed energy infrastructure that will utilize HODLER Investments’ digital energy platform, PermianChain, to monetize wasted energy such as flared gas to reduce CO2 emissions and to power AI and blockchain datacenter infrastructure. Dubai, UAE, November 7th 2024: UAE Hodler Investments, a UAE based investment company headquartered in the […]
RIYADH, November 6, 2024 — Jeel, the digital innovation arm of Riyad Bank, and audax Financial Technology (audax), a pioneering provider of digital banking technology solutions backed by Standard Chartered, have announced a strategic partnership to transform the digital banking ecosystem in Saudi Arabia. This collaboration brings together Jeel’s forward-looking digital expertise and audax’s established […]