Banking & Finance

Profits at top Saudi Arabian banks jump by 17.6% in Q1 2022

Growth attributed to several factors, including a buoyant energy market

Saudi shows foreign investor appetite and soaring IPOs in Q1 report

Foreign investors rose to historical levels in Q1, with 9,383 new licenses

Saudi’s PIF acquires 24% stake in Capital Bank for SAR 695 mln

Total shareholders’ equity raises to SAR 3.2 billion

S&P: Global Islamic finance to continue expansion in 2022-2023

Continued mortgage demand in Saudi supports the industry

Oman launches additional support package for SMEs, entrepreneurs

In an attempt to mitigate the effects of the Covid-19 pandemic

Kuwait’s Central Bank issues $1.2bn worth of bonds, tawarruq

The maturity period will be 6 months, with a rate of return standing at 2%

UAE: 90% of clients don’t relish the bank account opening process

82% of bank customers don’t favor having to physically hand over documents

Did Saudi just unleash a fintech boom?

106 deals worth in excess of $558 million, highest in the region

Top 5 attractive sectors for startups to invest in

MENA startups generated $297 million in investments in April 2022

Qatari “Al Rayan” completes merger of operations with “Al Khaliji Bank”

It succeeded, in under 6 months, in completing merger procedures

UAE banks highlight increase in profitability in Q1

Deposits to grow driven by projected interest rate increase

With a smile or a wave, paying in store just got personal with Mastercard

New era of biometric payments enhance the check-out experience

Does Elon Musk really want to buy Twitter?

CEO Parag Agrawal: "We aren't perfect at catching spam"

Anghami’s revenues surge to $35.5 million in 2021

Preliminary Q1 2022 revenue amounted to $9.3 million

Jadwa, GII partner to promote healthcare sector in GCC

Jadwa sold its majority stake in Al Meswak to GII

UAE’s IHC and India’s Adani ink AED 7.3 billion contract

IHC provided capital through preferential allotment route

Will Elon Musk renegotiate the Twitter deal’s value?

Musk believes fake users make up 20% of total users

Bank Muscat keeps pace with digital technologies

The bank calls on its clients to use the QR code scanning option