Tag: Saudi Arabia
Saudi Arabia’s PIF signs deals worth $50bn with Chinese banks
The wealth fund said the MoUs covered areas of cooperation such as encouraging two-way capital flows via both debt and equity
SAMA regulations enhance Saudi Islamic banks’ Sharia governance, Fitch says
The regulations issued cover profit-sharing investment accounts and aim to enhance Sharia compliance
Citi, Emirates NBD partner to launch US cross-border payments
Emirates NBD will fully utilise Citi’s 24/7 USD clearing capabilities, including commercial payments and execution of treasury payments
Emirates NBD, Pine Labs partner to strengthen merchant acquiring solutions
The bank plans to deliver cutting-edge merchant-acquiring processing solutions for its clients in the UAE, with plans to expand to Saudi Arabia and Egypt
Emirates NBD’s Q1 2024 profit surges 67% to AED 6.7 billion
The group’s asset base surpassed AED 900 billion as retail lending had its strongest-ever quarter and corporate lending closed landmark deals
ADNIC completes acquisition of 51% stake in Allianz Saudi Arabia
The acquisition will make ADNIC one of the Tier-1 listed insurers in Saudia Arabia
UAE’s ADCB secures banking licence from Saudi Central Bank
The bank will provide a comprehensive range of services for corporate and institutional clients, including financing and working capital solutions
Oman’s Sohar International secures Saudi banking licence
The bank’s expansion is poised to catalyse job creation, facilitate knowledge exchange, and promote skill development
Gulf International Bank raises SAR 1.5 billion from debut Tier 2 Sukuk
The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth
Saudi Awwal Bank, Mastercard partner to offer secure digital transactions
The bank will leverage Mastercard’s advanced AI-based cybersecurity technology to prevent payment fraud