Search Results for "Saudi Central Bank"

STC Pay Clinches One of the Two Digital Bank Licenses in Saudi

The Saudi cabinet has granted a digital bank license to STC Pay, a digital payments company which is a fully owned subsidiary of Saudi Telecom. STC Pay will be converted into a local digital bank, with a capital of SAR

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Saudi Fintech Tweeq Raises an Undisclosed Seven-Figure Funding

Tweeq, a Saudi-based provider of spending accounts for individuals and SMEs, announced the closure of an undisclosed seven-figure investment round, co-led by STV and Raed Ventures. The funding round, which follows on the heels of the company’s exclusive partnership with

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Saudi Payments Unveils Instant Payments System Sarie With IBM and Mastercard

Saudi Payments, under the supervision of the Saudi Central Bank (SAMA) announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM and Mastercard. ‘sarie’ now supports all Saudi banks across the Kingdom and is available for

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Saudi’s Buy Now Pay Later Platform Raises US$ 110 Million Led by Checkout.com

Tamara, a Saudi Buy Now, Pay Later (BNPL) platform announced the closing of its Series A funding round by raising US$ 110 million led by Checkout.com. The cash injection will be used by the company to scale its team, expand

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Saudi Licenced Fintech Startup Hala Closing a $6.5 Million Series A Round

Hala (previously Halalah) one of the first fintech startups to obtain the full SAMA license, secures $6.5 Million (24.3 Million SAR) Series A round. The round included the participation of Impact46 Growth fund, Wamda & strategic investors. With the recent

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Saudi Crowdlending Platform Lendo Secures $7.2 Million in Series A Funding Round

Saudi-based crowdlending platform Lendo announced that it has successfully raised US$ 7.2 million (SR 27 million) in Series A within a year of its launch. The Series A round was led by Derayah Ventures, with participation from Seedra, Shorooq Partners,

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Open Banking Platform Tarabut Gateway Bags $13 Million in Seed Funding

Bahrain-based open banking platform Tarabut Gateway has secured $13 million during a seed funding round. The announcement follows Tarabut Gateway’s recent expansion into the UAE in October 2020. Tarabut Gateway, which has offices in Abu Dhabi, Dubai, London and Manama,

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Saudi Arabia: Open Banking Expected to Go Live in H1 2022

The Saudi Central Bank, previously known as Saudi Arabian Monetary Authority (SAMA), is planning to go live with open banking during the first half of 2022. The Go-Live Phase will be the third and last phase of SAMA’s open banking

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Saudi Fintech Startup Hakbah Secures USD 1.2 Million Seed Funding

Hakbah platform, a Saudi-based fintech startup that specialises in alternative savings and savings groups, announced the closure of its seed round with a value of USD 1.2 million (SAR 4.5 million). Details of the investors were not disclosed. The startup

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Saudi Fintech Tamara Raises US$ 6 Million in Largest Seed Funding Round in the Kingdom

Tamara, a Saudi-based buy now pay later platform, announced the closure of its seed funding round with an investment of 22.5 million Saudi riyals (US$ 6 million) led by the Impact46 Venture Capital Fund. The startup reported that this is

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