Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

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.

Al Rajhi Bank to provide digital guarantee service in Saudi Arabia

Al Rajhi Bank was one of the 10 banks analyzed by Alvarez & Marsal.
  • The new service intends to ensure smooth financial operations for beneficiaries, according to a bank statement
  • Al Rajhi Bank customers in the corporate sector will be able to issue digital guarantees and easily link them to the beneficiary electronically via the platform

Al Rajhi Bank of Saudi Arabia will start providing a digital guarantee service through the electronic financial services platform called Etimad.

The new service intends to ensure smooth financial operations for beneficiaries, according to a bank statement. It will all be done in partnership with the Ministry of Finance’s National Center for Government Resources Systems.

Al Rajhi Bank customers in the corporate sector will be able to issue digital guarantees and easily link them to the beneficiary electronically via the platform.

The service will entail electronic management of bank guarantees, automatic linkage of them with government competition for issuance, and the automatic cancellation of preliminary guarantees for non-winning competitors.

The steps come in line with Saudi Vision 2030, in building digital governance, improving work efficiency, and increasing the effectiveness of projects.