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“2 Fintech Firms Receive Open Banking Certifications from Saudi Central Bank”

RIYADH: Saudi Arabia is fostering personalized financial products and services tailored to customer needs with the Kingdom’s monetary authority, granting open banking certifications to two fintech companies.  The Saudi Central Bank, or SAMA, has permitted Umg Alholol Trading Co. and Drahim App to test their open banking solutions in its regulatory sandbox, reported the Saudi Press Agency.  This brings the total number of innovators permitted to operate under the central bank’s regulatory sandbox to 45. 

Saudi Central Bank Certifies Tarabut Gateway for Open Banking

CAIRO: As part of its efforts to become a global fintech hub, Saudi Arabia has granted open banking certification to Dubai-based Tarabut Gateway.  Following the approval from the Saudi Central Bank, also known as SAMA, the fintech company aims to intensify its operations in the Kingdom.  Tarabut Gateway, the region’s leading regulated open banking platform, has become one of the early recipients of SAMA’s permit to carry out its operations in Saudi Arabia.

Cargoz, a UAE-based logistics startup, receives funding from Nama Ventures and RAZ Group

CAIRO: Saudi venture capital firms are bolstering the regional startup funding landscape, with Nama Ventures and RAZ Group leading the investment round to support the expansion of the UAE-based logistics startup Cargoz in the Kingdom.  Cargoz, often called the Airbnb for commercial warehousing, has secured an undisclosed amount in bridge funding from Nama Ventures, RAZ Group and a select few angel investors from the UAE and Saudi Arabia who are key players in the logistics industry. 

Saudi Businessman named President of Sports.com Platform

LONDON: Saudi businessman and senior executive Majed Al-Sorour was appointed president of sports platform Sports.com on Friday. A worldwide entrepreneur with a reputation for identifying performance potential in growth-focused businesses, Al-Sorour’s role will include investment strategy and execution as well as strategic communications and investor relations. He has a particular interest in the sports and technology industries, said a media statement issued on Friday.

Saudi Payments wins award for top transaction experience in 2023.

RIYADH: Saudi Arabia’s digital economy landscape has earned additional recognition as Saudi Payments, also known as Mada, received the Best Payment Experience of 2023 award at Seamless Middle East, a commercial technology event held in Dubai. Operating under the umbrella of the Saudi Central Bank, Mada was awarded for its public transport payments services in the Kingdom’s urban mobility space.

Euromoney’s Saudi Housing Finance Conference: Investment Leaders Convene in Riyadh

RIYADH: Bankers, policy officials, and financial regulators are set to descend on Riyadh to discuss real estate finance at the fourth edition of the Saudi Housing Finance Conference.   Hosted by Euromoney Conferences, the event will take place on May 24 under the theme “Opportunities and Challenges in the Housing Market,” reported the Saudi Press Agency on Wednesday.  

Elon Musk’s Twitter for 6 Months

Since Musk took over Twitter, it has changed for the worse, from reinstating previously banned accounts to layoffs.

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