Saudi National Bank chairman resigns following Credit Suisse losses
Saudi National Bank was the largest shareholder in Credit Suisse before it was taken over by UBS.
Saudi Arabia
Saudi BNPL firm Tamara lands $150m debt facility from Goldman Sachs
The receivables warehouse facility will help Tamara finance the accelerating demand for its flagship BNPL product.
Riyad Bank taps SunTec for e-invoicing integration with Saudi tax office
The integration allows banks to share standardised e-invoices with Saudi tax office Fatoora.
Saudi fintech Hala acquires UAE paytech Paymennt.com
Maher Loubieh, co-founder of Hala, says Paymennt’s product was a “clear fit” with their own strategy.
Chief strategy and digital officer of Banque Saudi Fransi departs
He describes his tenure at BSF as an “amazing four years” in a LinkedIn post about his departure.
Saudi Central Bank debuts open banking lab to boost innovation
The Open Banking Lab will provide a technical testing environment to ensure compatibility with the country’s Open Banking Framework.
Saudi financial super-app Tweeq lands central bank e-money licence
Tweeq leverages Paymentology’s Banking.Live platform and hopes to launch its app soon.
Saudi fintech platform Tameed picks Moneythor for loyalty features
With Moneythor’s solution, Tameed aims to enhance its purchase order financing offering with a loyalty programme.
Banque Saudi Fransi digital head Grant Niven departs
Niven was responsible for developing and executing the bank’s company-wide “digital vision”.
Saudi Central Bank debuts new open banking framework
The framework includes legislation, regulatory guidelines and tech standards based on international best practices.
New fintech start-up Five FS launches in the UAE and KSA markets
The start-up has officially launched in the UAE and Saudi Arabian markets.
Middle East and Africa fintech funding round-up: Julaya, erad, SecondSTAX and Exits.me
A round-up of the recent funding endeavours of fintech companies across the Middle East and Africa.
Saudi BNPL firm Tamara raises $100m Series B
The latest raise brings the fintech’s total funding to date to $216 million in equity and debt.
Dubai BNPL firm Tabby secures $150m debt financing
The debt financing has been supplied by Atalaya Capital Management and existing investor Partners for Growth.
UAE’s YAP secures $41m to support continued expansion
Start-up says the funding will support expansion into Saudi Arabia, Pakistan, Ghana and Egypt.
Loan Financing Company turns to ICSFS for core banking tech
LFC has also received a preliminary approval from Saudi Arabia’s regulator, SAMA.
Mastercard partners HyperPay to boost digital payments across MENA
As part of the deal, Mastercard has also invested in HyperPay, leading a $40 million funding round.
Banque Saudi Fransi and DSK Bank tap Backbase to revamp digital customer experiences
Both financial institutions are set to implement Backbase’s Engagement Banking Platform.
ICYMI fintech funding round-up: Payrails, Nexta, Malaa Technologies, & Playter
Our weekly fintech round-up for you to get the latest funding news from around the world.
BNPL platform tabby raises $54m in Series B extension round
The cash will go towards expanding its product offering and supporting its international expansion.
New digital bank D360 gets regulatory approval in Saudi Arabia
D360 becomes the third digital bank in Saudi Arabia to be licensed.
SAIB rolls out Moneythor’s PFM solution
The Saudi Investment Bank has implemented Moneythor’s personal financial management tools.
Lean Technologies lands $33m funding to build infrastructure for fintech in the Middle East
The Series A funding round was led by Sequoia Capital India.
Ejabiah picks Path Solutions to power 0% interest financing
New Saudi Arabian fintech aims to help SMEs with their growth.
UAE-based BNPL provider tabby lands $50m Series B funding
The round takes the company’s valuation up to $300 million.
Saudi Arabia grants first digital banking licences
STC Pay and ARTAR given green light by central bank.
Tamara scores MENA’s largest Series A round with $110m investment
The BNPL provider aims to reach all GCC markets by the end of the year.
Saudi Arabia launches new real-time payments system with IBM and Mastercard
The kingdom enlisted the help of IBM and Mastercard for the roll-out.
Banque Saudi Fransi upgrades treasury systems with Finastra
Saudi Arabian bank goes live on new version of Finastra platform.
ICYMI funding round-up: FlexxPay, Raqamyah, and JustUs
A trio of funding rounds that may have passed you by last week.
Saudi Arabia plans new SME bank to underpin local funding
The new bank brings “all financing solutions under one umbrella”.
Saudi start-up Hakbah raises $1.2m in seed funding
Hakbah aims to “modernise and ease” savings in Saudi Arabia.
Saudi Arabia’s central bank plans open banking go-live for 2022
SAMA has already “collected the local financial market participants’ feedback”.
Tamam to launch Saudi Arabia’s first digital microfinance service
Tanam give green light after 18 months of sandbox testing.
Western Union snaps up 15% stake in Saudi telco’s payments arm
Currently Western Union provides stc pay with money transfer services.
Saudi Stock Exchange launches new markets on Nasdaq technology
Tadawul debuts derivatives market and clearing house.
Mastercard partners with AlRaedah Finance on Saudi SME payments
The “SME in a Box” will offer SMEs direct access to fast funds.
Transfergo raises $10m, expands into 11 new markets
Remittance firm claims uptake in growth during COVID-19 pandemic.
Halal fintech Wahed lands $25m from Saudi Aramco’s venture arm
The Islamic finance industry is set to grow to $3.8tn by 2022.
MoneyGram signs remittance partnership with Al Rajhi Bank
The remittance firm will support Al Rajhi in Saudi Arabia both digitally and in-branch.
