Saudi Tourism Fund Chooses Local Bank For $346 Million Project
Saudi Arabia’s Tourism Development Fund will help finance a 1.3 billion-riyal ($346.7 million) project in the holy city of Medina together with Riyad …
Middle East
Privatization Is The New Buzzword In Saudi Arabia To Reduce Deficit
Saudi Arabia is hoping to speed up privatizations to narrow a budget deficit that ballooned last year due to the pandemic and a slump in oil …
Saudi Buy-Now-Pay-Later Firm Raises $110m in Funding
The e-commerce market is growing in the world. Investors are rushing to help online retailers sell larger items to consumers with the so-called …
Saudi Real Estate Refinance Eyes $1bn Sukuk by Year-End
Saudi Real Estate Refinance Company (SRC) plans to issue up to $1 billion in Sukuk (Islamic bonds) by the year-end, reported Reuters. A wholly-owned …
Indonesia’s Haj Fund To Invest In Saudi Tourism Industry
The Indonesian Haj Fund Management Agency (BPKH) is planning to invest in Saudi Arabia to help Indonesian pilgrims who want to go on the haj or umrah …
Saudi Arabia Chooses Prime As The Sole Halal-Certification Body In The Philippines
Saudi Arabia has chosen Prime Certification and Inspection, a subsidiary of the United Arab Emirates-based Prime Group of Companies, the only …
Saudi Arabia Allows Umrah For Immunized Pilgrims In Ramadan
Only pilgrims and worshippers who have been immunized against COVID-19 or have fully recovered from the pandemic will be allowed into the Grand …
Qatar FinTech Hub Announces Wave 2 Of Its Incubator, Accelerator Programs
22 FinTechs selected to take part in Wave 2 of the Incubator and Accelerator Programs to run from March until June 2021. The Qatar FinTech Hub …
Saudi Arabia, Malaysia To Strengthen Trade Relations
Minister of Commerce Dr. Majid Bin Abdullah Al-Qasabi has confirmed that the trade relations between the Kingdom of Saudi Arabia and Malaysia have …
Saudi Arabia Extends Support for Hajj, Umrah Operators
Riyadh: Saudi Arabia’s King Salman approved a range of initiatives to assist firms and individuals operating in support of Islamic pilgrimages of Hajj …
Deutsche Bank To Announce A Major Sukuk Issuance In Saudi Arabia
Deutsche Bank expects to bring to the market a “major” Islamic bond in Saudi Arabia by the end of the first quarter, as part of a wider push into the …
Brazil’s BRF Purchases Saudi Food Processing Unit
The Brazilian food company strengthens its foothold on the international market with manufacturing operations in Saudi Arabia. It will invest USD 7.2 …
Pakistan, UAE To Boost Bilateral Trade
Pakistan and the UAE are working on a new economic roadmap to boost bilateral trade volume and establish joint ventures between the two nations’ …
Saudi Arabia Poised to Become a Global Leader in Islamic Finance
The Kingdom of Saudi Arabia, being the largest Islamic finance market globally in economies with dual financial systems (comprising both conventional …
IRTI Launches Saudi Arabia Islamic Finance Country Report
In conjunction with the G20 Summit being held in Saudi Arabia on 21-22 November 2020, the Islamic Research and Training Institute (IRTI) of the …
Pakistani Meat Export To Middle East Increase
Pakistan is pushing hard to increase its export of halal meat to various countries in the Middle East. The Pakistani government is trying to boost …
Dubai Becomes A Center Of Global Trade
“In a world where every second counts and every decision can shape the future, Dubai has emerged as the beating heart of global trade, revolutionizing …
IDB, UAE Discuss The Impact Of COVID-19 On Private Sector & Global Economy
The Islamic Development Bank Group and the UAE Ministry of Economy and Annual Investment Meeting, recently conducted a live webinar entitled “IsDB …
COVID-19 Pandemic & Localization Initiatives in GCC Countries
COVID-19 coronavirus is here to stay. This is a painful fact none of us can ignore anymore. Central banks around the world have been using various …
Oman Arab Bank To Merge With Alizz Islamic Bank
Oman Arab Bank and Alizz Islamic Bank are planning to merge after securing regulatory approval from the Central Bank of Oman. The deal will further …
COVID-19 & Oil Price Collapse: A Double-Edged Sword For GCC
COVID-19 and oil price collapse are proving a double-edged sword to the Gulf Cooperation Council (GCC) countries. The World Bank recommends these …
COVID-19 To Impact GCC Sukuk Issuance In 2020
Global Islamic bond issuance is set to remain stable at around $180 billion
Dubai: Islamic finance is set to keep expanding in 2020 and beyond as the …
GCC Ministers Discuss Economic Impact Of COVID-19
RIYADH: Commerce ministers of the Gulf Cooperation Council (GCC) held a virtual meeting to discuss the economic impact of the coronavirus disease …
Asian Economies To Suffer Heavily Due to COVID-19 Outbreak
WASHINGTON- The World Bank is estimating that the coronavirus outbreak will cause economic growth to slow significantly this year in China and other …