Saudi Arabia

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

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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

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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

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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

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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

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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

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Saudi’s Capital Market Authority Grants 2 More Fintech Experimental Permits

The Capital Markets Authority of Saudi Arabia (CMA) has granted the Financial Technology Experimental Permit (FinTech ExPermit) to the Sukuk Capital Company and Osool & Bakheet Investment Company. The FinTech ExPermit aims to provide a regulatory framework conducive to the

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LogRhythm Launches Tool for Cybersecurity Compliance in Saudi

Cybersecurity company LogRhythm has launched reporting capabilities and compliance use cases that make it simple and efficient to comply with the Kingdom of Saudi Arabia’s (KSA) Essential Cybersecurity Controls (ECC). It enables organisations of all kinds to use automation to

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BIOS Middle East Taps VMware for UAE and Saudi Customers

BIOS Middle East, provider of cloud and managed IT services for enterprises, announced that it will offer VMware’s SD-WAN to customers in the UAE and Saudi Arabia. BIOS said it would be the first cloud provider to launch VMware SD-WAN

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Saudi E-Wallet STC Pay Selects Temenos to Expand Digital Payments Capabilities

STC Pay, a Saudi Arabian digital wallet, has selected banking software company Temenos to expand its digital payments capabilities, aiming to double its customer base by 2021. The e-wallet that was launched in late 2018, has chosen the API-first Temenos Transact

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