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  • Despite ‘Kafalah’ Lending Programs for SMEs, Saudi Banks Leave Startup Entrepreneurs Without Needed Funding
     

    Saudi banks are making it difficult for startups get off the ground by decreasing loans to new entrepreneurs, according to a Bloomberg report, despite the fact that these loans are backed by a government SME Loan Guarantee Program.  Deema Almashabi writes that entrepreneurs cannot count on receiving necessary startup capital because “banks are not lending to any startups […]

     
  • Cracking the Online Payments Puzzle in MENA
     

    Online payments have been at the center of electronic commerce challenges in the Middle East and North Africa since the first regional e-commerce sites came online. In many cases, they’ve kept both investors and founders worried about venturing into e-commerce businesses, and prevented many consumers from enjoying the benefits. Research shows that 47% of people […]

     
  • NCB’s October 19th IPO May be 2014’s Second Largest Behind Alibaba
     

    Saudi Arabia’s National Commercial Bank is set to issue an IPO in October that might raise as much as 16 billion riyals ($4.3 billion), which would be the second largest of 2014 behind China’s Alibaba Group Holding Ltd., Bloomberg’s Matthew Martin reports.  The IPO will list 300 million shares totaling 15% of the lender’s share capital, with an additional 200 million shares, […]

     
  • 5 Things to Know about the TASI Opening
     

    Last month’s announcement that the Saudi Arabian stock market, known as the Tadawul or TASI, would open to foreign investment has created waves of optimism from news outlets to seasoned investors. Most think the opening of the market will be great for investors and provide extra liquidity and capital into the market, but the Saudi […]

     
  • SMEs in Saudi Arabia: How the Supreme Economic Council Can Support SME Growth in the Kingdom
     

    SMEs (small and medium-sized enterprises) are key to an economy’s growth and account for 60% to 70% of jobs in most Organisation for Economic Cooperation and Development (OECD) countries, with a particularly large share in Italy and Japan, and a relatively smaller share in the US. The percentage contribution of SMEs to GDP/total value added […]

     
  • Saudi Minister of Finance Ibrahim Al-Assaf to Represent Saudi Arabia at the G20 Meetings in Washington on Thursday
     

    The Saudi Press Agency reports the Minister of Finance, Dr. Ibrahim Al-Assaf, will represent Saudi Arabia in Washington on Thursday at the G20 meethings. He will join other finance ministers and governors of central banks.

     
  • Royal Decree May Ease a ‘$67B Housing Logjam’ in Saudi Arabia, Reuters Reports
     

    Reuters is reporting that last week’s Royal Decree to tackle Saudi Arabia’s housing program has removed “an obstacle to a $67 billion program to ease the country’s housing shortage,” which “may push the program forward by opening up thousands of acres of state-owned land for construction.”

     
  • Saudi Arabia to Shift Weekend to Friday Start
     

    Pending approval from the Council of Ministers, Saudi Arabia could soon join its GCC neighbors in establishing a Friday-Saturday weekend.  Oman will officially shift its weekend beginning this May leaving only Saudi Arabia to make the transition. The current Thursday-Friday weekend has long been considered a drag on the Saudi economy and the Ministry of […]

     
  • Al-Assaf, Al-Rabiah Headline Important Private Sector Initiative in Riyadh
     

    The high-level meeting, an ambitious private sector initiative, addressed joint Arab action agendas, with 21 proposals of developmental projects discussed. Saudi Finance Minister Ibrahim Al-Assaf and Commerce Minister Tawfig Al Rabiah headlined this important event in Riyadh, which was widely discussed on Social Media sites and in the general media.

     
  • Saudi Is World’s Largest Market For Islamic Assets
     

    Saudi Arabia is emerging as the largest market for Islamic assets, according to a new report by Ernst & Young. According to the report, Saudi Arabia, with an estimated $207 billion of Islamic assets in 2011, was ranked first in the world. Malaysia was ranked second with total assets of $106 billion and UAE ranked […]

     

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