Stay updated with breaking news from Abdullah Almoayed. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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
RIYADH: Saudi shoppers can soon find more flexible payment options with two more buy now, pay later companies entering the consumer finance market. The Saudi Central Bank, also known as SAMA, has granted permits to Spotii and Madfu to provide consumer finance through the BNPL platform, the Saudi Press Agency reported. This move is projected to attract a new segment of
CAIRO: As part of its efforts to become a global fintech hub, Saudi Arabia has granted open banking certification to Dubai-based Tarabut Gateway. Following the approval from the Saudi Central Bank, also known as SAMA, the fintech company aims to intensify its operations in the Kingdom. Tarabut Gateway, the region’s leading regulated open banking platform, has become one of the
Raised: $13 million Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment. Entrepreneurship “is something that I’ve been brought up with,” says Abdullah Almoayed, the chief executive of open banking platform Tarabut Gateway. “I was born and raised into a business family that's been a trading family quite known in the Middle East region for the last four generations,” he said. Yet, instead of taking what would have seemed to many as the natural route i...
Why the UK risks losing its fintech crown to Bahrain Does the slow pace of UK fintech regulation mean we’re falling behind new challenger hubs like Bahrain? 8 January 2021 • 6:00am The UK established a banking system in the late seventeenth century. In the Middle East, and in particular the gulf island nation of Bahrain, the banking sector was established in 1961. Fast forward to the late twentieth century and progress looks surprisingly equal. When it comes to Open banking, which is transforming the global banking for a post-Covid-19 world, Bahrain has arguably forged ahead. What has c...