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RIYADH: Open banking services in Saudi Arabia are set for a boost after the Kingdom’s central bank announced the launch of a new lab to allow businesses to test out their products against an established framework. The service is a new concept that enables the consumers of financial institutions to securely share their data with a third-party provider, facilitating new and
RIYADH: With the highest growth rate among the G20 countries, continuous efforts to diversify the economy and a healthy inflow of foreign direct investment, Saudi Arabia’s market performance has been resilient. “Tadawul is by far the largest stock exchange in the Middle East, and it is seeking to become a regional center with cross-listings of companies from other countries in
Saudi Arabia-based fintech Manafa, has closed its Series A funding of $28 million (SAR106 million), led by STV and Wa’ed Ventures,...
RIYADH: Manafa Capital, the first authorized crowdfunding platform in Saudi Arabia, announced the closing of its Series A round of SR106 million ($28 million) on Wednesday, led by Riyadh-based venture capital firm STV and Wa’ed Ventures, the venture capital arm of Saudi Arabian Oil Co. Founded in 2018, the company provides debt and equity financing to small and medium
RIYADH: The rise of technological advancements in the Middle East has spun across all sectors, with financial technology becoming a trademark for innovation. The fintech sector has become one of the most important industries in the world, gaining the attention of entrepreneurs, investors and governments. Every year the industry witnesses unprecedented growth by doubling the