Saudi Arabia

Mambu Partners Ta3meed to Provide Digital Islamic Financing Solutions for SMEs

SaaS banking platform Mambu and Ta3meed, an Islamic fintech in trade finance in Saudi Arabia, announced a strategic partnership to deliver Islamic fintech financing solutions for SMEs in the region. With this partnership, Mambu’s agile core banking technology will be

Read More

Virgin Mobile Awarded Banking Agent License Through Saudi Investment Bank

Telecom provider Virgin Mobile was awarded a banking agent license through the Saudi Investment Bank, allowing it to offer electronic international remittance to its customers in KSA. Under the agreement, The Saudi Investment Bank and Virgin Mobile will use their

Read More

Saudi Central Bank Releases Its Open Banking Framework

The Saudi Central Bank (SAMA) has issued its open banking policy which outlines its objective for implementation in Saudi and the benefits that the financial sector stands to gain from it. SAMA plans to go live with its open banking

Read More

Sarwa Gets Greenlight for Fintech Experimental Permit From Saudi Regulator

Sarwa, a Dubai-based investment advisory platform, was granted a fintech experimental permit by the Capital Markets Authority (CMA) of Saudi Arabia and will be expanding its service there. With the new license in hand, Sarwa can offer its wealth management

Read More

Zain’s Fintech Arm First to Receive Micro Loans License From Saudi Central Bank

Zain Group, a telecommunications company in the Middle East and North Africa region, announced that its fintech arm Tamam has been officially licensed by the Saudi Central Bank (SAMA) to provide micro-financing services to consumers across the Kingdom. This makes Tamam

Read More

Aramco Teams up With Google Cloud Services for Push Into Saudi Market

Saudi Aramco Development Company, a subsidiary of Aramco, announced it had teamed up with Google Cloud to offer high-performance, low-latency cloud services to enterprise customers in Saudi Arabia. The Kingdom is being added to the global network of Google Cloud

Read More

Saudi and UAE Central Banks Release Report on Joint Digital Currency Project Aber

The Saudi Central Bank (SAMA) and the Central Bank of the United Arab Emirates (CBUAE) have released the report on their joint central bank digital currency (CBDC) initiative dubbed as Project Aber. The wholesale CBDC used only by the central

Read More

Payment Gateway FSS Expands Its Reach to Saudi

FSS (Financial Software and Systems), a global payments technology company, announced that it would be expanding its footprint to the Kingdom of Saudi Arabia (KSA). KSA is among the advanced digital payment economies in the Gulf Cooperation Council (GCC), with

Read More

Western Union to Snatch up 15% Stake in stc pay for $200 Million

Western Union, an American worldwide financial services and communications company, has set out to acquire a 15% stake for $200 million in Saudi Digital Payments Company (stc pay), a fully owned subsidiary of Saudi Telecom Company. The transaction is expected

Read More

Alinma Bank Signs on Japan’s JCB Cards for Acceptance in Saudi

Alinma Bank has partnered with Japanese credit card company JCB International Co., Ltd. (JCBI) to enable the acceptance of JCB Cards through its POS and ATM network devices deployed in Saudi. The expansion is in line with the Kingdom’s strategic

Read More