Saudi Arabia launches 10th round of ‘Sah’ savings product with 4.83% return
Saudi Arabia has launched the 10th round of its subscription-based savings product, Sah, for December, offering a competitive return of 4.83 percent. The initiative, aimed at fostering financial stability and supporting economic growth, is Shariah-compliant and government-backed. The sukuk opened for subscription on Dec. 1 and will remain available until Dec. 3. Allocations are scheduled […]
COP16: A turning point for global land restoration and drought resilience
The 16th session of the Conference of the Parties to the UN Convention to Combat Desertification is set to be a pivotal moment in the global fight against desertification and land degradation. Scheduled for Dec. 2-13, 2024, in Riyadh, COP16 carries the theme “Our Land. Our Future.” This event aligns with the 30th anniversary of […]
Saudi banks post 3.7% loan growth in Q3 amid rising credit demand: report
Saudi Arabia’s banking sector recorded a 3.7 percent sequential increase in loans and advances in the third quarter of 2024, driven by a 4.4 percent surge in corporate and wholesale banking, according to Alvarez & Marsal. Deposit growth lagged behind, rising 1.4 percent during the same period, as credit demand continued to outpace deposit mobilization. […]