Business

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions

The decision shows SAMA's endeavor to support the financial sector.
By TRENDS Desk
May 16, 2024 6:15 am
  • With Hala Financing, there are now 11 authorized companies offering debt-based crowdfunding solutions in Saudi Arabia
  • The addition brings the total number of finance companies licensed and permitted by SAMA to 62, according to a SAMA news release

Riyadh, Saudi Arabia – The Saudi Central Bank (SAMA) has licensed “Hala Financing” to provide debt-based crowdfunding solutions.

With Hala Financing, there are now 11 authorized companies offering debt-based crowdfunding solutions in Saudi Arabia. The addition brings the total number of finance companies licensed and permitted by SAMA to 62, according to a SAMA news release.

According to the statement, the decision shows SAMA’s endeavor to support the financial sector, increase efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

SAMA reiterates the importance of dealing exclusively with authorized financial institutions.

Most Read

Environment Agency – Abu Dhabi issues marine water quality policy

ABU DHABI,  UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…

Energy, commodity prices hurt profits of GCC firms

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise

Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.

3 ways travel drives economic growth while enhancing global connections and sustainability

WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and tourism has recovered and is set to reach new heights.…

The future of wellness hospitality: From short escapes to lifelong longevity

In recent years, wellness travel has evolved from a niche pursuit to one of the most dynamic sectors in global tourism. What began as an occasional escape from stress has…