Search Results for "SAMA"

The Status Quo of Open Finance in the Arab World

In Arab countries, open banking is rapidly evolving into the more comprehensible model of open finance, expanding from payment accounts and related services, to a larger variety of financial services, including investments, pensions, insurance and consumer credit. With so many

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Saudi Personal Finance Platform Yabi Grabs USD 8M Seed Funding

Yabi by Souqalmal was launched in Saudi Arabia this November, boasting a localised personal finance wellbeing platform. Driven by its firm belief in localisation for true value creation when it comes to personal finance, Yabi launched in both English and

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MENA’s Banking Sector Driven by AI and Digital Transformation

The banking sector in the Middle East and North Africa (MENA) is anticipated to experience significant growth, a development which will be driven by rising demand for banking services, ongoing progress of digital transformation, and the expansion of digital banking,

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Roland Berger Teams with DFINITY to Transform Recycling with Blockchain-Based Credits

Roland Berger has recently embarked on an ambitious project in partnership with the DFINITY Foundation, a Swiss-based non-profit organization known for its contributions in the blockchain field and developing the Internet Computer. This collaboration aims to develop the first-ever global

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Saudi and Singapore Central Banks to Share Fintech Expertise

The Saudi Central Bank (SAMA) and the Monetary Authority of Singapore (MAS) have agreed to work together on fintech and innovation. The agreement was signed by H.E. Mr. Ayman Al-Sayari, Governor of SAMA, and H.E. Dr. Vivian Balakrishnan, the Minister

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Salt Edge Partners with SeaPay to Offer Open Banking Solutions in Saudi Arabia

In a significant move towards advancing digital technology and open banking in the Kingdom of Saudi Arabia, SeaPay, a leading Omni-Channel Payment Solutions provider, has announced a strategic partnership with Salt Edge, a renowned financial technology company. This collaboration aims

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Saudi Arabia Central Bank Licenses 2 New Insurance Aggregation Companies

The Saudi Central Bank (SAMA) licensed “Al-tizam for electronic insurance brokerage” and “Altheqa Insurance Brokers” to provide insurance aggregation services (soft launch). With Al-tizam and Altheqa, there will be five authorized insurance aggregation companies operating in Saudi Arabia. This decision

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Saudi Fintech Sector Doubles in Size

Saudi Arabia’s fintech sector is growing at a fast pace, doubling in size in the span of just a couple of months. As of the end of 2022, the country was home to 89 fintech companies, a number that soared

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Saudi Arabia Licenses Debt-Based Crowdfunding Startup Themar

The Saudi Central Bank (SAMA) licensed “Themar” to provide crowdfunding solutions. With Themar, there are now seven authorized companies offering debt-based crowdfunding solutions in Saudi Arabia. This decision reflects SAMA’s endeavor to support the finance sector, increase efficiency of financial

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The Saudi Central Bank Permits Additional BNPL Company

The Saudi Central Bank (SAMA) permitted “Tabby” to provide Buy Now Pay Later (BNPL) solutions. With Tabby, there are now five authorized companies offering BNPL solutions in Saudi Arabia. The BNPL solutions provide finance to customers wishing to buy products

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