Company Insights Saudi Central Bank Banking & Finance Saudi Central Bank News Analysis Economy Why Saudi Arabia expects public debt to rise Saudi Arabia expects its public debt to steadily rise in the next three years, despite the massive financial reserves controlled by the central bank and the Public Investment Fund (PIF). Estimates by the Saudi Finance Ministry show that public debt will swell by around SAR375 billion ($100 billion) between the end of 2024 and the […] December 23, 2024 Opinion Banking & Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024 Banking & Finance Saudi Central Bank says loans at 18-month high Saudi Arabia’s bank loans reached their highest level in 18 months, according to the latest data from the Saudi Central Bank (Sama). Figures released for August show loans reached SAR2.82 trillion ($753 billion), a 12 percent increase from the previous year. The monthly bulletin said personal loans made up 46 percent of the market total, […] October 21, 2024 Retail BinDawood to invest $390m in delivery hubs Saudi grocery retailer BinDawood Holding has announced plans to invest SAR1.5 billion ($390 million) in robotics and delivery hubs. CEO Ahmad BinDawood confirmed that the investment, with partners, would be made in the company’s automated “dark stores” and the infrastructure needed to run them. The stores, typically hubs for online shopping orders, will range from […] September 16, 2024 Retail Online retail sales in Saudi Arabia to double, report says Ecommerce in Saudi Arabia’s retail sector is likely to double between 2020 and 2025, with annual compound growth of 15 percent a year, a government report has revealed. “As the second-highest venture capital-funded sector in Saudi Arabia, ecommerce is booming,” the report by the Small and Medium Enterprises Authority said. Venture capital funding in ecommerce […] September 9, 2024 Analysis Real Estate Saudi Arabia woos US investors to bolster housing sector As growth in mortgage lending in Saudi Arabia runs up against local liquidity constraints, several US investment giants are looking to step in. After a visit by Saudi officials to the US at the end of August, household names such as BlackRock and King Street Capital signed preliminary agreements with the Saudi Real Estate Refinance […] September 9, 2024 Banking & Finance Mubadala-backed Tabby prepares for Saudi IPO Tabby, the buy-now-pay-later startup backed by Abu Dhabi sovereign wealth fund Mubadala, is on track to prepare for its initial public offering, the company’s CEO confirmed on Wednesday. The fintech unicorn – a startup worth more than $1 billion – was originally founded in the UAE but is now headquartered in Saudi Arabia. It is […] September 4, 2024 Markets Saudi forex assets fall but US Treasury holdings rise Saudi Arabia’s net foreign assets fell by $15.2 billion month on month in July, but the kingdom’s US Treasuries holdings shot up by another $4 billion in June, new data showed this week. The Saudi central bank’s net foreign assets decreased from SAR1.67 trillion ($445.3 bn) in June to SAR1.613 trillion in July, preliminary data […] August 16, 2024 Finance Expat remittances from Saudi rise 12% to $3.4bn Expat remittance from Saudi Arabia jumped by 12 percent year on year to SAR12.6 billion ($3.4 billion) in May, according to the Saudi Central Bank (Sama). Remittances rose 11 percent month on month, or SAR1.3 billion, in May, the central bank said. Globally, remittances to low- and middle-income countries grew by an estimated 3.8 percent […] July 10, 2024 Analysis Banking & Finance Buy now, pay later growing fast in UAE and Saudi Arabia A tech-savvy society, an expanding ecommerce market and the appeal of flexible financing options is fuelling the UAE and Saudi Arabia’s buy-now-pay-later (BNPL) sector, according to industry experts. BNPL – when people can make immediate online purchases and spread payments over interest-free instalments – has grown in popularity in the Gulf since the Covid-19 pandemic. […] July 3, 2024 Posts navigation Previous 1 2 3 … 8 Next
Analysis Economy Why Saudi Arabia expects public debt to rise Saudi Arabia expects its public debt to steadily rise in the next three years, despite the massive financial reserves controlled by the central bank and the Public Investment Fund (PIF). Estimates by the Saudi Finance Ministry show that public debt will swell by around SAR375 billion ($100 billion) between the end of 2024 and the […] December 23, 2024
Opinion Banking & Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024
Banking & Finance Saudi Central Bank says loans at 18-month high Saudi Arabia’s bank loans reached their highest level in 18 months, according to the latest data from the Saudi Central Bank (Sama). Figures released for August show loans reached SAR2.82 trillion ($753 billion), a 12 percent increase from the previous year. The monthly bulletin said personal loans made up 46 percent of the market total, […] October 21, 2024
Retail BinDawood to invest $390m in delivery hubs Saudi grocery retailer BinDawood Holding has announced plans to invest SAR1.5 billion ($390 million) in robotics and delivery hubs. CEO Ahmad BinDawood confirmed that the investment, with partners, would be made in the company’s automated “dark stores” and the infrastructure needed to run them. The stores, typically hubs for online shopping orders, will range from […] September 16, 2024
Retail Online retail sales in Saudi Arabia to double, report says Ecommerce in Saudi Arabia’s retail sector is likely to double between 2020 and 2025, with annual compound growth of 15 percent a year, a government report has revealed. “As the second-highest venture capital-funded sector in Saudi Arabia, ecommerce is booming,” the report by the Small and Medium Enterprises Authority said. Venture capital funding in ecommerce […] September 9, 2024
Analysis Real Estate Saudi Arabia woos US investors to bolster housing sector As growth in mortgage lending in Saudi Arabia runs up against local liquidity constraints, several US investment giants are looking to step in. After a visit by Saudi officials to the US at the end of August, household names such as BlackRock and King Street Capital signed preliminary agreements with the Saudi Real Estate Refinance […] September 9, 2024
Banking & Finance Mubadala-backed Tabby prepares for Saudi IPO Tabby, the buy-now-pay-later startup backed by Abu Dhabi sovereign wealth fund Mubadala, is on track to prepare for its initial public offering, the company’s CEO confirmed on Wednesday. The fintech unicorn – a startup worth more than $1 billion – was originally founded in the UAE but is now headquartered in Saudi Arabia. It is […] September 4, 2024
Markets Saudi forex assets fall but US Treasury holdings rise Saudi Arabia’s net foreign assets fell by $15.2 billion month on month in July, but the kingdom’s US Treasuries holdings shot up by another $4 billion in June, new data showed this week. The Saudi central bank’s net foreign assets decreased from SAR1.67 trillion ($445.3 bn) in June to SAR1.613 trillion in July, preliminary data […] August 16, 2024
Finance Expat remittances from Saudi rise 12% to $3.4bn Expat remittance from Saudi Arabia jumped by 12 percent year on year to SAR12.6 billion ($3.4 billion) in May, according to the Saudi Central Bank (Sama). Remittances rose 11 percent month on month, or SAR1.3 billion, in May, the central bank said. Globally, remittances to low- and middle-income countries grew by an estimated 3.8 percent […] July 10, 2024
Analysis Banking & Finance Buy now, pay later growing fast in UAE and Saudi Arabia A tech-savvy society, an expanding ecommerce market and the appeal of flexible financing options is fuelling the UAE and Saudi Arabia’s buy-now-pay-later (BNPL) sector, according to industry experts. BNPL – when people can make immediate online purchases and spread payments over interest-free instalments – has grown in popularity in the Gulf since the Covid-19 pandemic. […] July 3, 2024
