Zain KSA has announced its financial results for the first nine months of 2024, achieving revenue of SAR 7.7 billion, a 4.5% year-on-year growth. Net profit over the period amounted to SAR 322 million, a 33% increase compared to the corresponding 2023 period, excluding the tower sales earnings. This financial performance reflects Zain KSA’s strategic…
The FDI boom is a product of Saudi Arabia’s ‘Vision 2030’ plan, first announced in 2016. Driven by a desire to diversify away from hydrocarbons, Saudi Arabia is looking to transform its economy by nurturing new industries, attracting investment and positioning itself as an early adopter of advanced technologies. One area that Saudi Arabia is…
e& enterprise, the digital transformation arm of the global technology group e&, and its partner World Wide Generation (WWG) are enhancing the ‘Sustainability as a Service’ offering for the MENA region. By joining forces with UAE entities—including regulators, financial institutions, and government bodies—they aim to support banks, investors, and corporations in meeting upcoming reporting regulations,…
Investcorp, a leading global alternative investment firm, is pleased to announce a commercial partnership with Awaed, the first commission-free Saudi trading platform. Under the terms of the partnership, Awaed will enable their clients to invest into Investcorp’s Saudi Pre-IPO Growth Fund. Investcorp is one of the first global asset manager to set up a strategic…
The Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) government Paul Chan has recently stated that fintech cooperation between Hong Kong and the Middle East region will enter a new milestone. Chan said in his blog that he will lead a business delegation consisting of representatives from the financial and innovation sectors to…
Global payment technology leader, Mastercard, has announced the expansion of its Product Express platform to include FinTechs in Africa, the Middle East, Europe, North America, and additional markets across Latin America. The move follows a successful regional rollout earlier in Latin America and aims to enable FinTechs to launch card programmes with enhanced speed and…
Rwanda has unveiled an ambitious five-year FinTech strategy (2024-2029) aimed at positioning the country as a regional hub for financial services while advancing financial inclusion. The plan seeks to strengthen Rwanda’s FinTech ecosystem by leveraging technology to drive economic growth and socio-economic transformation. While the global FinTech sector promotes financial inclusion by improving access to…
Nasdaq reported a rise in third-quarter profit, helped by strong demand in its solutions business that houses the exchange operator’s financial technology products. To generate steady revenue growth, the company has been branching out from its market-sensitive core operations of trading and listing to products that help traders and investors navigate the capital markets. Revenue…
Kuwait Finance House (KFH) is set to implement Indian software vendor Gieom’s Digital Blueprint software to centralize and streamline its policy and procedure management. The software will enable the $55 billion-asset Islamic bank to create role-based business process flows in collaboration with employees and stakeholders using Gieom’s in-built BPMN 2.0-compliant drawing tool or Microsoft Visio….
Retail heavyweight, Shein, is launching its first branded credit card worldwide through a partnership with Mexican fintech Stori, the firms said on Tuesday, touting synergies that should help both expand in Latin America’s second-largest economy. The push will simultaneously aim to draw more Mexicans to the credit market, where they lag in access, as well…
