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Saudi liquidity level hit new high; soars to $744bn in AugustThe available funds (liquidity) in the Saudi economy have marked a record year-over-year growth rate, increasing by 8.7% to hit over SAR2.91 trillion ($774 billion) by the end of August compared to over SAR2.67 trillion ($710 billion) last yea More… |
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24 Fintech Conference in Riyadh a big drawThe inaugural 24 Fintech Conference (September 3-5) in Riyadh, hosted 10,000 foreign delegates, 350 speakers, including 252 international experts, where several agreements were also signed, a report said. The event also hosted 500 inves More… |
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Saudi CenBank launches government banking services platformThe Saudi Central Bank (SAMA) has introduced 'Naqd,' a government banking services platform. A vital tool, it enables government agencies to conveniently access their accounts at the central bank More… |
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SAMA rules boosting Saudi Islamic banks’ transparency, says expertIslamic finance-specific rules issued by the Saudi Central Bank (SAMA) over 2020 to the first half of 2024 are enhancing Islamic banking regulations to some extent, says Fitch Ratings, through better transparency and reporting requirements, st More… |
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Saudi Arabia's liquidity soars to hit all-time high of $752bnSaudi Arabia's liquidity levels continued to grow strongly, reaching SAR2.826 trillion ($752 billion) at the end of May, thus marking an annual growth of approximately 8.6%. This represented an increase of more than SAR222.9 billion ($59.3 More… |
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Saudi investment funds' assets surge to $33bn in Q4The assets of local and foreign investment funds in the Saudi market totalled SR122.578 billion ($33 billion) at the end of the fourth quarter (Q4) of 2023, marking a 5% growth from the previous quarter. More… |
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New e-wallet solutions company gets Saudi licenceThe Saudi Central Bank (Sama) has granted licence to 'Alhulul AlMubassatah Financial Company (SiFi)' for lauching its e-wallet solutions in the kingdom. With this, the number of licenced companies More… |
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Insurance authority will strengthen sector: SAMA chiefThe establishment of an independent insurance authority tasked with regulating and supervising the insurance sector in the kingdom is expected to enhance the sector’s efficiency, increase its contribution to the non-oil GDP and adherence More… |
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Saudi Islamic finance assets top SAR3trn: SAMA ChiefSaudi Arabia houses the largest Islamic Finance market in the world with total assets across sectors exceeding SAR3.1 trillion ($826.5 billion), said Governor of the Saudi Central Bank (SAMA) and Chairman of the Islamic Financial Services Boar More… |
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New debt-based crowdfunding firm gets Saudi licenceThe Saudi Central Bank (SAMA) has given licence to a new debt-based crowdfunding company - Themar - to launch its operations in the kingdom. With this, the total number of firms offering debt-based crowdf More… |
