Arab News Business Weekly Review - September 10.
This week in Saudi: Fintech Hits $1B, Real Estate Loans Reach $218B, and Licenses Surge; Egypt Gains 30%.

Arab News Business Weekly Review - September 10.

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发布日期: 2024年9月10日
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Saudi fintech industry rakes in $1bn in revenues, says top SAMA official

Saudi Arabia’s fintech sector has become a major player in the country’s financial services landscape, with companies generating over SR3.75 billion ($1 billion) in revenues and reaching millions of customers daily.

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Saudi banks’ real estate loans reach $218bn thanks to annual 12% growth

Saudi banks real estate loans reached SR816.83 billion ($217.82 billion) in the second quarter of 2024, marking an annual 12 percent rise, according to official data.

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Construction licenses drive investment surge in Saudi Arabia; Egypt secures 30% of total share in Q2

Construction permits led Saudi Arabia’s investment licenses in the second quarter of 2024, with 737 issued, representing 27 percent of the total, according to official data.

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Education Transformation: A Catalyst for Economic Breakthrough in the GCC

Education quality needs to be improved across the Gulf if the region is to truly unlock its economic potential, experts have told Arab News.

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Startup Wrap – Saudi ecosystem flourishes with funding and acquisitions

Saudi Arabia’s startup ecosystem continues to gain momentum, with multiple companies across diverse sectors securing significant funding.

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Saudi fintech investment increases sixfold to reach $666m in 2023

Venture capital investment in Saudi fintech companies, especially in the financing sector, surged sixfold in 2023 compared to the previous year, Abdullah Binghannam, deputy of financing and investment at the Capital Market Authority, told Arab News.

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Riad Salameh arrest – turning point or strategic maneuver by former Lebanese central bank chief?

The arrest of Riad Salameh, Lebanon’s former central bank governor, has sent shockwaves through Lebanon’s financial and political spheres.?

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Saudi Arabia scraps export customs fees, cuts import charges

Saudi Arabia will eliminate fees for all customs services related to exports and cut import service fees to 0.15 percent of the goods’ value starting Oct. 6, according to an official release.

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Saudi debt market liquidity soars to $666m in 2023

The liquidity of Saudi Arabia’s debt market surged to SR2.5 billion ($665.9 million) in 2023, a significant increase from SR800 million in 2019, according to Mohammed El-Kuwaiz, chairman of the Capital Market Authority.

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Saudi Arabia and GCC drive global sukuk market amid economic diversification push: Moody’s

The global sukuk market is poised for a strong performance in 2024, with issuance volumes expected to surpass those of 2023 despite a slowdown in the year’s second half.?

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