Burgeoning domestic economy set to return country to growth this year as oil revenues lag
China’s growing use of currency swap agreements — most recently with Saudi Arabia — are a key part of its strategy to lessen the global influence of the US dollar.
In an increasingly fragmented world, collaboration on solving the world’s most pressing challenges is an urgent priority, writes Saudi Arabia’s finance minister.
Al Rajhi Bank’s growth sees it top Saudi Arabia’s performance tables, even as SNB remains the country’s largest lender.
After many years in the shadow of the UAE, Saudi Arabia’s start-up and venture capital ecosystem is growing rapidly.
Credit growth is set to ease in 2023 as the country’s mortgage market cools, while tighter liquidity increases funding costs, writes John Everington.
Mohammed Bin Abdullah Elkuwaiz, chairman of Saudi Arabia’s Capital Market Authority, on the surge in local listings, and the regulator’s plans for tokenised and virtual assets.
Halfway through the country's Vision 2030 programme, Saudi Arabia has made significant progress in its economic reform programme. Yet efforts to further boost the private sector and attract foreign investment face stiff challenges.
Lenders in the region are witnessing an increase in profitability.
Higher oil prices mean a return to budget surplus, even as investment challenges remain.
SABB CEO Tony Cripps talks about the impact of higher interest rates, the bank’s digital ambitions and how it plans to increase its foothold in Saudi Arabia’s retail market.
Further growth in retail mortgages will continue to underpin credit growth for banks as the economy improves.
Middle Eastern fintechs and neobanks are attracting investment from overseas, as the wave of mega-mergers among the region’s largest lenders grinds to a halt.
The country’s two largest banks saw gross total loans increase by about 37% between 2016 and 2020.
Digital-only banks in the Gulf Co-operation Council are experiencing a boom.
Abdullah Al-Othman on the prospects for Saudi Arabia’s first digital-only banks.
Despite a double hit from the pandemic and falling oil prices, the country’s plan to diversify its economy continues apace.
With a new open banking initiative planned, Saudi institutions are ramping up their digital offerings.
Tie-up between NCB and Samba Financial heralds a second wave of bank consolidation in the region.
Gulf kingdom reportedly seeking to snatch multinationals from Dubai, as sovereign wealth fund ramps up investment.