Saudi Arabia
10 articles
Ajij Steel lands SAR 75 million Islamic loan from Abu Dhabi bank
Ajij Steel, part of National Building and Marketing, clinched a SAR 75 million sharia-compliant loan from First Abu Dhabi Bank for working capital. The five-month deal puts Islamic finance at the center of Saudi industrial funding.
Foreign bank branches hit new high in Saudi Arabia
Saudi Arabia now counts 49 foreign bank branches after Bank of Jordan's arrival. The international banking scene is changing fast, and the kingdom's financial landscape is shifting.
Ben Dawood secures sharia-compliant funding for major food sector deal
Ben Dawood Holding has obtained a one-year sharia-compliant revolving credit facility worth SAR 217.8 million to finance its acquisition of a 51 percent stake in Faza Food. The deal involves no bank guarantees and signals a strategic move in Saudi retail.
UBS and Wells Fargo expect Brent oil to drop by 2027
UBS and Wells Fargo predict Brent oil prices will fall through 2027. But they warn that supply shocks and low inventories could keep markets on edge.
Saudi Riyal Rates Diverge Across Egyptian Banks in September 2026
Saudi riyal cash rates in Egypt on 27 September 2026 show a notable spread between banks, with differences in both buying and selling prices affecting travelers, remittances, and cross-border payments
UAE stock market liquidity jumps as big trades split Abu Dhabi and Dubai
UAE stock markets saw liquidity top AED 1.8 billion as large direct trades and selective buying sent Abu Dhabi and Dubai in different directions. Regional exchanges posted mixed results.
Paymob lands $35 million to push digital payments across MENA
Paymob has raised $35 million in pre-Series C funding to speed up its digital payment rollout for businesses in Egypt, Saudi Arabia, the UAE, Oman, and Pakistan. The company wants to reach more merchants across the MENA region.
Salla acquires PayLink to expand Saudi merchant payment options
Saudi fintech Salla has acquired PayLink and partnered with Naml to deliver broader payment acceptance and distribution tools for over 65,000 Saudi merchants seeking to reach customers at home and abroad
ADIB Appoints Chief AI Officer to Drive Digital Banking Ambitions
Abu Dhabi Islamic Bank has named Pedro Uria-Recio as its first chief AI officer, aiming to accelerate responsible AI adoption and support its Vision 2035 strategy for innovation in Islamic banking
Banking Technology Shifts: Saudi Digital Lending and Core Migrations
August 2026 saw major banking technology moves, including Saudi Arabia's GO Telecom entering digital lending, Australia's MoveBank migrating its core, and new investment in UK-based 10x Banking, with implications for payments and cross-border services