Finance

The Saudi stock market saw a slight dip as the Tadawul All Share Index decreased by 0.08%, closing at 12,369.63. Trading volume reached SR6.92 billion, with 133 stocks rising and 97 falling. In the parallel market, Nomu dropped 27 points to 31,317.97, while the MSCI Tadawul Index declined by 0.17% to 1,549.08. Top Performers and Decliners Rasan Information Technology Co....

Saudi Arabia's Fintech Sector Transformation Saudi Arabia's financial sector is undergoing significant changes, fueled by Vision 2030 reforms, according to experts. The Financial Sector Development Program (FSDP) is at the forefront, aiming to diversify income and expand financial opportunities. Under the guidance of the Saudi Central Bank (SAMA), the fintech and digital banking sectors are flourishing. Yaseen Ghulam, an economics...

Riyad Bank of Saudi Arabia is exploring an initial public offering (IPO) for its investment banking division, partnering with JPMorgan Chase & Co. for this venture, as per insider sources. The IPO for Riyad Capital might occur by mid-2025, with an estimated valuation of $2.5 billion. However, specifics such as the offering size and precise timing are yet to be...

Saudi Arabia and Oman have taken a significant step to bolster their financial ties through a new agreement aimed at enhancing cooperation and sharing expertise. Signed during the Islamic Development Bank Group's board of governors' retreat in Madinah, the agreement seeks to improve financial policies, public sector governance, and coordination on regional and international matters. Saudi Finance Minister Mohammed Al-Jadaan...

The Saudi stock market experienced a slight decline as the Tadawul All Share Index fell by 17.03 points, or 0.14%, closing at 12,109.94. Trading turnover reached SR5.77 billion, with 114 stocks advancing and 119 retreating. The MSCI Tadawul Index also saw a minor decrease of 2.34 points, or 0.15%, finishing at 1,509.67. In contrast, the Nomu parallel market rose by...

The Saudi and Omani Finance Ministers, Mohammed Aljadaan and Sultan bin Salem Al-Habsi, have signed a Memorandum of Understanding (MoU) to enhance financial cooperation between Saudi Arabia and Oman. This took place during the Islamic Development Bank Group's Board of Governors' retreat in Madinah, Saudi Arabia. Minister Aljadaan described the MoU as a pivotal move to deepen financial ties, facilitating...

The Saudi Minister of Finance, Mohammed Aljadaan, took part in the Islamic Development Bank Group's Board of Governors’ retreat at the King Salman International Convention Center in Medina. This gathering was dedicated to high-level consultations for crafting the Bank's strategy for 2026–2035. In his address, Minister Aljadaan welcomed the Governors, underscoring the significance of the meeting as a venue to...

The Sultanate of Oman and Saudi Arabia have entered into an agreement aimed at boosting financial sector collaboration. This memorandum of understanding (MoU) was signed by Oman's Minister of Finance, H E Sultan Salim al Habsi, and his Saudi counterpart, Mohammed Abdullah al Jadaan. Key objectives of this MoU include strengthening bilateral relations, sharing financial expertise, and enhancing coordination on...

Saudi Arabia's banking sector is witnessing increased activity in the debt and sukuk markets as major banks aim to boost their capital and support growth. Key players like Al Rajhi Bank, Banque Saudi Fransi, and Arab National Bank are issuing significant amounts to attract local and international investors. This trend aligns with the Capital Market Authority's goal to transform the...

Saudi Arabia's banking sector is witnessing increased activity in debt and sukuk markets as major banks aim to bolster their capital and support growth initiatives. Leading institutions like Al Rajhi Bank, Banque Saudi Fransi, and Arab National Bank are issuing significant financial instruments to attract local and global investors. This trend aligns with the Capital Market Authority's Vision 2030, which...

Alinma Investment Company has received approval from both unitholders and the Capital Market Authority (CMA) for significant changes to the Alinma Saudi Government Sukuk ETF Fund - Short Maturity. These changes will take effect on 27 January 2025. The fund, adhering to Sharia principles, is an open-end public investment. Certification of its Sharia compliance has been granted by an appointed...

The GCC region saw a notable increase in Islamic debt issuances in 2024, driven by Qatar and Saudi Arabia, according to Kamco Invest. Total sukuk issuances reached a historic $82.1 billion, up from $56.1 billion the previous year, while non-GCC global sukuk fell to $50.4 billion from $65.1 billion. The GCC was the primary contributor to the rise in bond...

Saudi Arabia's Capital Market Authority (CMA) has announced its strategic plan for 2024-2026, aiming to advance the Kingdom's financial market and boost its global standing. This initiative, comprising over 40 projects, is designed to align with Vision 2030, transforming the capital market into a vital economic component. Bloomberg's Constantin Cotzias underscores the strategy's importance in fostering economic diversification through financial...

Saudi Arabia plans to address its funding needs of approximately 139 billion riyals ($37.02 billion) for 2025, as outlined by Finance Minister Mohammed al-Jadaan. The National Debt Management Centre (NDMC) announced these plans. The strategy focuses on diversifying both local and international financing methods to meet these needs efficiently. This will include issuing sovereign debt instruments within a solid risk...

Saudi Arabia has successfully issued a $12 billion bond as part of its Global Medium-Term Note Issuance Program, attracting significant interest with an order book reaching $37 billion. This issuance was managed by the National Debt Management Center (NDMC) and included three segments: a $5 billion bond due in 2028, a $3 billion bond maturing in 2031, and a $4...

Saudi Arabia has kicked off 2025 with significant borrowing to support its ambitious economic transformation goals. The kingdom issued $12 billion in bonds and secured a $7 billion Islamic loan from 20 banks. Recently, the finance minister also reported a $2.5 billion raise from three foreign banks. As part of Crown Prince Mohammed bin Salman’s Vision 2030, the government is...

Saudi Arabia's financial strategy for 2025 involves securing approximately 139 billion riyals ($37.02 billion) in funds. This plan has been sanctioned by Finance Minister Mohammed Al Jadaan, according to the National Debt Management Center (NDMC). The exchange rate at the time of reporting was $1 to 3.7550 riyals.

China and Saudi Arabia Strengthen Financial Bonds China has selected Saudi Arabia for its upcoming US dollar bond issuance, marking its first in three years. This decision indicates the strengthening financial relationship between the two countries. Saudi Arabia is increasingly relying on Chinese investments to fund its extensive development initiatives. The Vision 2030 project, aimed at transforming the Saudi economy...

The Saudi Arabian banking industry is experiencing significant change, spurred by Vision 2030 and the advancement of digital technology. Financial institutions are focusing on improving customer experiences, innovating services, and competing in a more dynamic market. The Saudi Arabian Monetary Authority (SAMA) has implemented progressive regulations to promote financial inclusion, enhance digital banking, and create opportunities for both traditional banks...

The Saudi Central Bank (SAMA) has lowered its key interest rates by 50 basis points. The repurchase agreement (repo) rate is now at 5.50 percent, and the reverse repurchase agreement (reverse repo) rate stands at 5.00 percent. This adjustment aligns with SAMA's goal of maintaining monetary stability in Saudi Arabia. The move follows the US Federal Reserve’s recent rate cut...

Saudi Arabia's Strategic Increase in US Treasury Holdings Saudi Arabia has boosted its US Treasury bills and bonds holdings by $2.4 billion, reaching a total of $142.7 billion in July 2024. This move aligns with the anticipation of a US interest rate cut and aims to capitalize on the high returns from these secure debt instruments, as reported by Al-Eqtisadiah....

The Saudi Tadawul All Share Index climbed by 1.34%, closing at 12,080.47, with a trading turnover of SR9.47 billion ($2.52 billion). Out of the listed stocks, 152 rose while 73 declined. The parallel market, Nomu, dipped by 1.01% to 25,337.96 points, with 30 stocks advancing and 41 retreating. The MSCI Tadawul Index also saw a rise of 1.41%, ending at...

Saudi Gazette Report RIYADH — The Saudi Central Bank (SAMA) has cut the repurchase agreement (repo) rate by 50 basis points to 5.50% and the reverse repo rate by the same margin to 5.00%. This move aligns with SAMA's commitment to maintaining monetary stability. Following the US Federal Reserve, central banks in the UAE, Bahrain, Qatar, and Kuwait also reduced...

Saudi Arabia has reduced its benchmark interest rate from 6% to 5.5%, following a 50-basis-point cut by the central bank. This decision aligns with the US Federal Reserve's recent rate reduction, marking a shift after two years of increases aimed at controlling inflation. Gulf Cooperation Council (GCC) central banks, including Saudi Arabia, adjusted their rates due to their currencies being...

The US Federal Reserve has lowered interest rates for the first time in over four years, marking a significant policy shift. This move, after a period of high rates to control inflation, aims to make borrowing less expensive for consumers. As major central banks reduce rates, emerging markets stand to gain. Historically, lower rates in developed countries make emerging markets...

CATRION Catering Holding Company has signed a Sharia-compliant credit facility deal with Saudi Awwal Bank (SAB) for SAR 221 million. CATRION Catering Services LLC, a subsidiary, secured the funding on 16 September 2024, as revealed in a bourse disclosure. Out of the total, SAR 209 million will fund the Red Sea catering project, while SAR 12 million will cover the...

The Saudi EXIM Bank recently hosted a meeting for the Global Association of Risk Professionals (GARP) to explore best practices in managing financial risks within international operations. This event aimed to foster collaboration and share expertise among top experts and decision-makers. A key session addressed risk management trends and challenges in Saudi Arabia, featuring insights from Saudi EXIM Bank Chief...

Saudi Arabia's central bank, SAMA, announced a reduction in its Repurchase Agreement (repo) rate by 50 basis points to 5.50%, and its reverse repo rate by the same margin to 5.0%. This decision aligns with the Federal Reserve's recent cut of U.S. interest rates by half a percentage point. The Saudi riyal, pegged to the U.S. dollar, is directly influenced...

Saudi Banking Sector Thrives Amid Economic Diversification: Moody’s Saudi Arabia's push for economic diversification is significantly boosting its banking sector, with industries like construction and tourism presenting lucrative lending opportunities, according to a recent Moody’s report. Moody’s highlighted that the Kingdom’s focus on reducing reliance on hydrocarbon revenue has positively impacted the performance of the banking sector’s loan portfolio. The...

Saudi Arabian stocks saw an uptick on Wednesday, driven by gains in various sectors. The overall market index rose by 0.30% at closing. Among the top performers, Red Sea Housing Services surged 9.96% to settle at 53.00. Batic Investments and Logistics climbed 5.22% to 3.63, and Saudi Awwal Bank increased by 4.32% to 35.05. On the downside, Gulf Insurance Group...