Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Saudi CMA looks to double $213bn funds under its control

The sukuk and debt instruments market has witnessed significant developments in recent years.
By TRENDS Desk
September 25, 2021 10:58 pm
  • The Capital Market Authority wants to create more jobs in the financial sector by increasing the assets under management
  • The Fintech accelerator is helping to build the capabilities and talent required by financial technology companies

The Saudi Capital Market Authority (CMA) intends to double the $213 billion funds under its management, and create more jobs in the financial sector.

According to SPA, the CMA is looking to increase the assets under management in funds, portfolios or other innovative financial tools, including private equity funds, venture capital, and financial technology.

The CMA’s Assistant Undersecretary for Strategic and International Affairs Ahmed Al-Enezi said that Saudi Arabia has invested in infrastructure, including the Saudi Fintech initiative, launched by the Saudi Central Bank in partnership with the CMA in April 2018, as a catalyst for the development of the financial technology sector in the Kingdom.

The Fintech accelerator is helping to build the capabilities and talent required by financial technology companies, and is supporting entrepreneurs at every stage of their development, Al-Enezi said

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]