Search Results for "Saudi Central Bank"

Banking and Fintech Predictions for Middle East in 2021

COVID-19 has created a sea change across the financial services sector with respect to remote work and a push for digitisation. The financial sector experienced the most disruption, with an accelerated innovation roadmap that saw manual processes including account opening,

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New Report Calls for Open Banking Harmonization Across the Arab World

Open banking is making inroads in the Arab world but visions and strategies between countries across the region vary dramatically. Defining a holistic vision for open banking in the region will allow Arab countries to fully reap the fruits of

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Open Banking Makes Foray Into the Middle East

Globally, initiatives across different jurisdictions have emerged to make open banking a reality, ranging from direct regulatory requirements, like what’s been done in the UK and the European Union (EU), to market-coordination and industry-led initiatives such as in the US

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Neobanks Make Inroads in the UAE

Though still a nascent industry in the United Arab Emirates (UAE), neobanking is steadily making inroads into the country. Last month, news broke that Abu Dhabi state-owned holding company ADQ will be setting up a digital bank in the United

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Saudi Monetary Authority Deployed Blockchain Tech for Money Transfer With Local Banks

Saudi Arabian Monetary Authority (SAMA) has recently used blockchain technology to deposit part of the liquidity that SAMA had previously announced, to be injected into the banking sector, as part of SAMA’s actions aimed at enhancing the sector’s capabilities to

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Saudi Arabian Startup Funding Hit New Records

In 2019, Saudi Arabian startups raised a record of US$67 million through 71 deals, representing a 35% increase in investment amount and a 92% increase in deal count, according to the 2019 Saudi Arabia Venture Capital Snapshot report by startup

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Fintech Saudi Arabia Access Guide and Annual Ecosystem Report

Fintech Saudi, a financial sector development program initiative launched by the Saudi Arabian government in 2018, has released its latest Fintech Access Guide, a bi-annual booklet for local and foreign fintech entrepreneurs covering topics such as regulation and business strategies.

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Saudi Arabia: Green Light To Test Robo-Advisory Service

Saudi Arabia’s capital markets watchdog has granted Haseed Investing Company and Wahed Capital a Fintech ExPermit, allowing the two companies to test their robo-advisory services, the Capital Market Authority (CMA) of Saudi Arabia informed. With the permit in hand, the

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Saudi Arabia: 18 Companies Join Fintech Regulatory Sandbox

The Saudi Arabian Monetary Authority (SAMA) has selected 18 companies to form the second batch of ventures to join its fintech regulatory sandbox. The companies will be testing fintech solutions they intend to launch in the country. The 18 companies

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A Glimpse into Fintech in Saudi Arabia

Experts are optimistic about the outlook for fintech development in Saudi Arabia, which they claim will be driven by the tech-savvy, young population, and favorable government initiatives and support. Islam Al Bayaa, head of advisory at KPMG Al Fozan &

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