Saudi Arabia

Saudi Arabia Permits New Fintech Companies to Operate in Regulatory Sandbox

The Saudi Arabian Monetary Authority (SAMA) announced that it has Permitted 9 FinTech Companies as a new batch to operate in the Regulatory Sandbox. These companies have, therefore joined the list of companies permitted in the two previous cohorts, bringing

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Saudi Banks Need to Accelerate Digital Transformation Plans Amid COVID-19 Disruptions

Banks in Saudi Arabia have to revisit their digital transformation plans and strive to launch new channels that will sustain delivery of products and services amid the Covid-19 pandemic, according to the findings of a new report released KPMG Al

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A QR-based National Payment System for Saudi Arabia

To enhance the electronic payment throughout Saudi Arabia and reduce the dependence on cash, High-tech Payment Systems (HPS) has been appointed by Saudi Payments, a fully owned subsidiary of Saudi Arabia Monetary Authority (SAMA), to provide a unified QR code

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BayanPay Gets Licensed by the Saudi Arabian Monetary Authority

Finablr network brand BayanPay, a Saudi Arabia-based digital payment solutions provider, has been awarded a payment services provider licence by the Saudi Arabian Monetary Authority (SAMA). Following its successful graduation from the SAMA regulatory sandbox, BayanPay will offer digital wallets, e-commerce

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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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Saudi Arabia Drafts Regulation For The Provision Of Payment Services

The Saudi Arabian Monetary Authority “SAMA” announces the launch of a Draft Regulation governing the Provision of Payment Services in the Kingdom, inviting the public and those interested – in furtherance of the principle of transparency and participation – to

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3 Must-Attend Upcoming Fintech Events in Saudi Arabia

2018 was a key year for Saudi Arabia’s fintech sector as the government began to actively support the development of a healthy and vibrant fintech ecosystem. 2018 was marked by several milestones in the Saudi fintech landscape, with the launch

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Swiss Fintech Provider Crealogix Accelerates Middle East Expansion with New Office in Saudi Arabia

CREALOGIX, a leading international Fintech company headquartered in Switzerland announced the opening of its new office in Riyadh, Saudi Arabia. The Riyadh office will be headed by Jamal M. Habahbeh, an expert in technology transformation with over 28 years of

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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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Saudia Arabia Grants Fintech Experimental Permits to 3 Equity Crowdfunding Platforms

In reference to Fintech Experimental Instructions permits issued by the Capital Market Authority Saudia Arabia (CMA), Buthoor Solidarity, Afaq and Emkan Alarabiya will be able to experiment in equity crowdfunding which allows investors to participate in funding small and medium-size

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