International payment systems provider Vocalink, a Mastercard company, announced last week it has partnered with the Saudi Payments, a fully owned subsidiary of the Saudi Arabian Monetary Authority (SAMA), to launch real-time payments in Saudi Arabia. According to Vocalink, the partnership will enable account-to-account payments… Read More
Temenos AG (SIX: TEMN), the Switzerland based banking software provider, announced on Wednesday it has been selected by Al Rajhi Bank, a Saudi Arabia-based bank, to enhance its Islamic lending and financing product capabilities. The bank has opted for a complete renovation using Temenos T24 Transact as well as… Read More
Following a meeting of The Executive Committee of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia have announced plans to collaborate on a “joint pilot cryptocurrency” for possible use in cross border banking, Emerati state news agency WAM reports. The initiative is one of seven… Read More
The Executive Committee of the Saudi-Emirati Coordination Council reportedly held its first meeting in Abu Dhabi with the participation of all 16 members from both sides to follow up on the execution of the joint initiatives outlined in the Strategy of Resolve. According to UAE’s… Read More
U.S.-based blockchain technologies firm Blocktech announced on Friday it is partnering with Taibah Valley to launch the Blockchain Lab at Taibah University in Madinah, Saudi Arabia. According to Blocktech, the launch will be directed by artificial intelligence (AI) expert, Professor Walaa Alharthi, and it is claimed to… Read More
On Monday, the Saudi Arabia Capital Market Authority announced it was opening applications for the second batch of the country’s Financial Technology Experimental Permit (FinTech ExPermit). Last year, the Authority announced the establishment of the FinTech ExPermit and opened the first batch of applications for… Read More
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
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
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
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
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
“My advice to female innovators and disruptors is to have balance in your relationships with mentors, advisors, close associates and friends that will ultimately broaden both your networks and channels to access capital. This is going to be critical as you scale, grow, and ultimately… Read More
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
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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