Page 5 - Financial Sector Development Program News Today

EFG Hermes collaborates with the Saudi Exchange to showcase compelling Saudi equities to global investors

Mozn and Bayan Credit Bureau collaborate to boost financial industry development in Saudi Arabia

Although there are challenges, such as a lack of legislation and expertise, Islamic finance may present new avenues for attracting investment.

This is an excerpt from The Future of Fintech in the Middle East 2023 report. Data plays an importan...

The Saudi government has granted both the Minister of Finance and the Chairman of the Board of Directors of the Insurance Authority the power to set the appropriate mechanisms to invest the funds of the new entity. Earlier this month, the Saudi Cabinet, chaired by Crown Prince Mohammed bin Salman, approved the establishment of the Insurance Authority, within an endeavor to foster robust and competitive insurance entities within the Kingdom.

The Saudi Cabinet, chaired by Crown Prince Mohammed bin Salman, approved on Tuesday the establishment of the Insurance Authority. This move aims to foster robust and competitive insurance entities within the Kingdom. Finance Minister Mohammed Al-Jadaan characterized this measure as pivotal within the developmental blueprint of the financial sector, a component of the Vision 2030 program designed to elevate the role of the insurance sector. This initiative seeks to amplify its contribution to the...

Saudi Arabia-based fintech Wadaie has secured a pre-Seed funding round led by RZM Investments, along with Bunat Ventures and other Saudi...

How open banking can give regional banks in MENA the opportunity to expand their ecosystems, reach and balance sheets.

RIYADH: Saudi Arabia is fostering personalized financial products and services tailored to customer needs with the Kingdom’s monetary authority, granting open banking certifications to two fintech companies. The Saudi Central Bank, or SAMA, has permitted Umg Alholol Trading Co. and Drahim App to test their open banking solutions in its regulatory sandbox, reported the Saudi

This is the sixth tranche under the SAR20bn sukuk programme handled by SRC