Tagged: saudi arabia

Ripple Update: National Commercial Bank of Saudi Arabia Has Joined RippleNet; Currency Exchange Also Moves into Japan

On Thursday, Ripple announced the National Commerical Bank (NCB) of Saudi Arabia has joined RippleNet. According to Ripple, NCB was the first bank established in the country and, as of today, it is one of the largest financial institutions in the Middle East with more than… Read More

Saudi Monetary Authority Prohibits “Unauthorized Virtual Currencies”

Citing “negative consequences,” “high risks,” and a lack of “government supervision,” the Saudi Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in FOREX Markets has officially declared, “Unauthorized virtual currencies…illegal inside the Kingdom of Saudi Arabia.” The announcement came August 12th in the… Read More

Saudi Arabia’s Capital Market Authority Grants First Two Trial Fintech Licenses

Last week, Saudi Arabia’s Capital Market Authority (CMA) announced the approval of the first two trial financial technology licenses to Manafa Capital and Scopeer. According to the organization, these trial licenses will qualify the two companies to provide crowd-funding service in the Kingdom of Saudi Arabia…. Read More

Gulf Capital Acquires Strategic Stake in Saudi Arabia Fintech Geidea

Middle East alternative asset management firm Gulf Capital announced on Monday it has acquired a strategic stake in Saudi Arabia fintech, Geidea. According to the company, this deal with Geidea is claimed to be the largest acquisition in the Saudi Fintech sector to date and the… Read More

SoftBank & Trump: $50 Billion & 50K Jobs. Will this Boost Fintech?

In a grand mashup of investment and politics, President-elect Donald Trump and Tokyo-based SoftBank Group Corp.‘s CEO Masayoshi Son announced their plan this week to create 50,000 new jobs in the U.S. via a $50 billion investment namely in startups. Deal Street Asia reported that the… Read More

Search in MENA Finds AngelList Success: Next Alibaba of the Middle East Seeks $400K

Hoping to be the next Alibaba of Middle East, the B2B marketplace Search in MENA helps SMEs create both new channels to attract clients online and build a vast network of product and service providers for Arab Enterprises in the MENA (Middle East and North Africa)… Read More

Prince AbdulAziz International Prize for Entrepreneurship in Saudi

Is the annual awards launched by His Royal Highness Prince Abdulaziz bin Abdullah bin Abdulaziz , a Centennial Fund global initiatives . The first prize in the world for entrepreneurship , under the supervision of the advisory (Team one ) It serves as a pilot… Read More

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