Saudi National Bank, Mastercard launch UEFA Champions League cards
Saudi National Bank (SNB), and Mastercard, the official sponsor of the UEFA Champions League, have partnered to launch the UEFA Champions League card portfolio, the first of its kind in the kingdom, offering cashback credit card and prepaid card without annual fees. Saud Bajbair head of Retail Business Group at SNB said: “SNB holds a prominent position […]
Saudi Venture Capital invests in a VentureSouq Fintech Fund
Saudi Venture Capital (SVC) has invested $5 million in a fintech fund managed by VentureSouq (VSQ). VentureSouq (VSQ) is a MENA-based venture capital fund manager with a global portfolio. VSQ manages thematic funds, with a current focus on FinTech. Dr. Nabeel Koshak, CEO and Board Member at SVC, said that the investment in the fintech […]
Saudi SME Bank signs cooperation deal with India’s SIDBI
The Small and Medium Enterprises Bank (SME Bank) of Saudi Arabia has signed a joint cooperation agreement with the Small Industries Development Bank of India (SIDBI). SMEB acting CEO Mr. Abdulrahman bin Mohammed bin Mansour and SIDBI Deputy Managing Director Mr. Sudatta Mandal attended the signing ceremony in the Indian capital, New Delhi, on the […]
Saudi Arabia plans to issue $9.6bn in sukuk after buyback
Saudi Arabia has completed an early purchase of more than SAR35.7bn ($9.5bn) of outstanding debt and will issue about SAR35.9bn in sukuk , as the kingdom plans to bolster its domestic market. The government bought a portion of its debt instruments maturing in 2024, 2025 and 2026, the National Debt Management Center said in a […]
Saudi Central Bank & Hong Kong Monetary Authority explore bilateral ties
The Saudi Central Bank (SAMA) has explored bilateral relations with its international counterpart, Hong Kong Monetary Authority (HKMA). The two sides discussed a number of initiatives to strengthen collaboration in several common areas, including financial infrastructure development, open market operations, monetary policy, and Fintech. Both parties shared their experiences in research, development and innovation, highlighting […]
Rawabi closes Saudi’s largest private sector syndicated financing of $2bn
Rawabi Energy and its subsidiaries have concluded the financial close of $2 billion Syndicated multi-currency senior secured term and revolving SAR and USD facilities, marking one of the largest private sector syndicated financing in the Kingdom of Saudi Arabia. Led by strong market demand, the landmark Transaction was oversubscribed by 1.33x, reinforcing confidence in the Kingdom’s […]
Riyad Capital’s new $133mln fund to launch mixed-use project in Riyadh
Riyad Capital, the investment arm of Riyad Bank, announced on Monday the launch of 500 million Saudi riyal ($133.33 million) Riyadh Real Estate Development Fund – Durrat Hittin in partnership with Al Ramz Real Estate Company. The fund will develop a mixed-use project in Hittin district in Riyadh on a total area of 27,119 square […]
Saudi’s SFDA lifts ban on poultry and eggs from Poland
The Saudi Food and Drug Authority (SFDA) has decided to lift a temporary ban on the import of poultry meat, eggs, and their products and preparations from Poland. SFDA said it made the decision based on the immediate notification report issued by the World Organization for Animal Husbandry, which states that the highly virulent bird […]
IsDB Group to bring together ministers from 57 member countries
The Islamic Development Bank (IsDB) Group is set to host its 2023 IsDB Group Annual Meetings in Jeddah from May 10 to 13 bringing together a large spectrum of stakeholders, including ministers from the 57 member countries. Held under the patronage of The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, […]
IsDBI, IFSD, and OPHI organize training for IsDB Group staff
Jeddah, Kingdom Saudi Arabia: The Islamic Development Bank Institute (IsDBI), Islamic Solidarity Fund for Development (ISFD), and Oxford Poverty and Human Development Initiative (OPHI) jointly organized a training workshop on measuring multidimensional poverty. The workshop was designed to build the capacity of IsDB Group staff in producing data-driven research that supports evidence-based policymaking. The training […]