Saudi Arabia
Saudi Arabia Licenses Debt-Based Crowdfunding Startup Themar
The Saudi Central Bank (SAMA) licensed “Themar” to provide crowdfunding solutions. With Themar, there are now seven authorized companies offering debt-based crowdfunding solutions in Saudi Arabia. This decision reflects SAMA’s endeavor to support the finance sector, increase efficiency of financial
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The Saudi Central Bank Permits Additional BNPL Company
The Saudi Central Bank (SAMA) permitted “Tabby” to provide Buy Now Pay Later (BNPL) solutions. With Tabby, there are now five authorized companies offering BNPL solutions in Saudi Arabia. The BNPL solutions provide finance to customers wishing to buy products
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Saudi Central Bank Finalizes Regulations for Law of Payment Services
The Saudi Central Bank (SAMA) announces the issuance of the Implementing Regulations for the Law of Payments and Payment Services to support the objective of enhancing soundness and efficiency of the payment systems infrastructure in Saudi Arabia. The relevant regulatory
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Saudi Central Bank Permits New BNPL Company
The Saudi Central Bank (SAMA) granted “Tamara” a permit to provide Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law. With Tamara, there are now four authorized companies offering BNPL solutions. SAMA
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Cisco Plans Cloud Security Data Center in Saudi Arabia
Cisco announced plans to establish a data center for cloud-delivered security in the Kingdom of Saudi Arabia (KSA) to help customers protect their users, infrastructure, and investments against threat actors. The announcement is part of Cisco’s continued effort to empower
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Mastercard Partners With UAE Life-Style Banking App to Issue Virtual Prepaid Cards Across GCC
Mastercard is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. This partnership marks a significant stride in Mastercard‘s ongoing commitment to advancing digitalization in the payments
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Saudi Arabia Permits 3 New Fintech Companies to Operate Under Its Regulatory Sandbox
The Saudi Central Bank (SAMA) announces granting permits to three innovators to test their Open Banking solutions in the Regulatory Sandbox. These companies are: Tarabut Gateway Company for Information Technology, Umg Alholol Trading Co (known as Single View), and Drahim
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Saudi Central Banks Permits First Time BNPL Companies
The Saudi Central Bank (SAMA) granted “Spotii” and “Madfu” permits to carry out Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law for providing finance to customers wishing to purchase products or
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Major Trends Driving Transformation in the Middle East’s Digital Payment Landscape
In the Middle East, the digital payment landscape is changing at a rapid pace, shaped by the advent of instant payments, booming adoption of new payment methods and the rise of online retail, a new whitepaper produced by Euromonitor International
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Top 20 VCs and Funds Backing Saudi Arabia’s Tech Startups
Against all odds, venture capital (VC) investments in Saudi Arabia reached a new all-time high last year, growing by a staggering 72% year-on-year (YoY) to reach US$987 million in 2022, data from the 2022 Saudi Arabia Venture Capital Report show.
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