Banking & Finance

Saudi Fund for Development invests $205 million in Serbia for agriculture, education, and energy projects

The funds will create jobs, boost the economy, and enhance Serbia’s global standing 

Saudi Venture Capital to invest $15 million in a VC Fund by Vision Ventures

Saqr Fund II aims for a total size of $90 million and will focus on early-stage startups, ranging from pre-seed to pre-Series B 

PIF-owned AviLease purchases Boeing 787-9 aircraft from BBAM

This transaction marks AviLease's first partnership with BBAM, adding its first Boeing 787-9 on operating lease

Saudi Arabia launches air bridge to support Lebanon

This aid reflects the Kingdom's commitment to ongoing humanitarian efforts for individuals and nations in need

Saudi Central Bank issues compliance, internal audit principles for finance, real estate refinance companies

This initiative is part of SAMA's supervisory responsibilities aimed at ensuring the stability and growth of the financial sector

Vision 2030 to propel Saudi Arabia’s assets under management to over $300 billion, says Fitch

Assets under management rose 13.5 percent year-on-year to over $250 billion during the first half of 2024

Saudi Arabia’s CMA Chairman: 50 percent of recently listed companies are SMEs

Elkuwaiz noted that the CMA is expanding financing options by streamlining fund management for efficient public offerings 

EFG Hermes KSA: Banking on opportunities in Saudi Vision 2030 and beyond

Since 2019, firm has successfully completed more than 14 IPOs in the Kingdom

Visa responds to challenges and opportunities in Saudi Arabia’s growing tourism sector

Innovating payment and tourism ecosystems key to leveraging consumers’ increasingly digital lifestyle

SMEs account for 90 percent of the industrial sector in Saudi Arabia, says Minister Alkhorayef

The ministry has launched initiatives in the industrial and mining sectors for entrepreneurs and SMEs to leverage

Saudi fund to finance $41-million infrastructure rehabilitation project in Dominica

This initiative aims to boost socio-economic growth and improve residents' quality of life 

Saudi Arabia’s liquidity grows 9 percent to record high of $772.37 billion in Q2 2024

Since the beginning of the year, Saudi Arabia's liquidity has grown 5.5 percent, rising by over SAR148.83 billion

Saudi Arabia-based barq partners with Mastercard on advanced payment acceptance technology

Partnership will contribute to the digital transformation of financial services in Saudi Arabia, in line with Vision 2030

24 Fintech: $213 million fintech venture capital fund announced

In 2023 alone, investments in fintech in Saudi Arabia exceeded $790 million, an 8-fold increase from 2021's $91 million

IMF commends Saudi Arabia’s progress under Vision 2030: Report

The Fund highlighted resilient non-oil growth in the Kingdom, applauded record low unemployment

Saudi Central Bank confirms Q4 2024 as launch period for ‘Samsung Pay’ service in Kingdom

Samsung Pay provides secure payments, letting users manage digital cards in the Samsung Wallet app

Saudi Arabia’s PMI rises to 54.8 in August 2024, driven by new business and government investment

The PMI noted significant job creation, with employment rising at one of the highest rates in a decade

24 Fintech: Saudi Arabia to increase number of fintech companies to 525 by 2030 

By the end of Q2 2024, the number of Fintech companies in the Kingdom reached 224, exceeding the target of 168

Saudi fund deploys $20 billion globally in 50 years

800+ development projects have been funded by SFD since inception

ACWA Power secures $2.58 billion for three major solar projects in Saudi Arabia

This funding will support the development, design, construction, and operation of the projects

Riyadh Air, noon Payments partner to offer seamless digital payment options

Partnership showcases the airline's dedication to fostering local innovation and contributing to the broader economic goals of Saudi Arabia

Saudi housing company reports $3.59 billion in sales, achieving 4-fold growth with over 13,000 units sold in H1 2024

The sales surge is linked to the company’s launch of multiple housing projects across the Kingdom

New business park with $1 billion investment aims to transform Saudi’s Boulevard City

 The park features 60,000 sqm of creative spaces, nine innovative office buildings