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Al-Rajhi Bank is a Saudi bank established on January 23, 1978. It practices banking and investment business following the provisions of the Islamic Sharia for its account or the account of others, for individuals and companies, inside and outside the Kingdom of Saudi Arabia, and its main headquarters is located in the capital, Riyadh . The bank was listed on the ' Saudi Tadawul ' on December 1, 1988, and its shares are traded on the main Saudi market 'Saudi Tadawul' within t...
Income Tax on Foreign Establishments in the Kingdom of Saudi Arabia is a mandatory tax imposed by the Zakat, Tax, and Customs Authority in the Kingdom. Income tax is applied to every natural or legal person who carries out an activity in the Kingdom, non-residents who earn income from a source within the Kingdom, resident capital companies on the shares of non-Saudi partners, and individuals engaged in the production of oil and hydrocarbon materials. Income tax rate to the tax base The tax is c...
The Saudi Exchange originated informally in the 1950s and continued to operate in this manner until the 1980s, when the government introduced fundamental regulations. With the issuance of the 'Capital Market Law' under Royal Decree No. (M/30) on July 31, 2003, the Capital Market Authority (CMA) was established. It is a governmental authority with financial and administrative independence, directly reporting to the Prime Minister. The Capital Market Law stipulates the establishment of ...
Banque Saudi Fransi is a Saudi bank listed as a public joint stock company in the Saudi stock market 'Saudi Tadawul.' It is one of the oldest Saudi banks, operating since 1977 from its headquarters in the capital, Riyadh. The bank's capital is SAR12.05 billion. All its banking transactions are supervised and controlled by the Saudi Central Bank's Banking Supervision Department. 1 2 3 The shares of Banque Saudi Fransi are traded on the main market of Saudi Tadawul within the ...
Fintech Saudi is an initiative launched by the Saudi Central Bank in partnership with the Capital Market Authority in April 2018, as an incentive step to develop the fintech sector in the Kingdom of Saudi Arabia and enhance its role in national socioeconomic development. Fintech, the word, is a shortened combination of “financial technology.” It refers to the use of new and evolving technologies in financial services. Objectives of Fintech Saudi Fintech Saudi works to serve the financial se...
The Communication and Financial Knowledge Center ( CFKC) is a knowledge platform and one of the initiatives of the Ministry of Finance in the Kingdom of Saudi Arabia. The Ministry launched the platform under its current name in 2020. It is concerned with financial education and knowledge exchange to raise financial awareness and promote communication partnerships with stakeholders in the financial and economic system. Furthermore, it supports the efforts of the Ministry of Finance to improve th...
STC Bank is considered the first digital bank in the Kingdom of Saudi Arabia, established by converting the Saudi Digital Payments Company (STC pay) into a local digital bank to conduct banking operations in the Kingdom with a capital of SAR2.5 billion. In June 2021, the Saudi Council of Ministers issued a decision approving the bank's license. A second digital bank, the Saudi Digital Bank, was also licensed. This bank was established through a consortium of companies and investors led by ...
D360 Bank is a Saudi digital bank that relies on advanced digital technology in its banking transactions. A decision was issued by the Council of Ministers in the Kingdom of Saudi Arabia approving its licensing as a local digital bank under the name D360 Bank on February 15, 2022. The bank was founded by a group of investors from entities and individuals, in addition to the cooperation of the Public Investment Fund (PIF,) and led by Derayah Financial Company, with a capital estimated at around ...
Saudi Investment Bank is a Saudi bank listed as a public joint stock company on the Saudi Exchange (Saudi Tadawul). It was established in 1976. The bank's headquarters is located in the capital, Riyadh, and it is subject to the supervision and control of the Banking Control Department affiliated with the Saudi Central Bank, with a capital of SAR10 billion. Establishment of Saudi Investment Bank Saudi Investment Bank was established pursuant to Royal Decree No. M31, dated June 23, 1976, in ...
Saudi Awwal Bank (known also as SAB) is a Saudi joint stock company and one of the large banks in the Kingdom of Saudi Arabia. It is the result of a legal merger between the Saudi British Bank and al-Awwal Bank in March 2021, with its headquarters located in Riyadh City. It has a history dating back more than ninety years. SAB was ranked first in 2021 among the best workplaces in the Middle East. The Saudi Awwal Bank stocks are traded on the Saudi Exchange 'Saudi Tadawul' on the main ...
The National Debt Management Center was initially established as the Public Debt Management Office in the fourth quarter of 2015 as an initiative of the Fiscal Sustainability Program. Then, by Council of Ministers Decision No. 139 dated October 15, 2019, it was transformed into the 'National Debt Management Center'. The National Debt Management Center enjoys an independent legal personality, as well as financial and administrative independence. It is organizationally affiliated with t...
Alinma Bank is a Saudi bank listed as a public joint stock company. It is the most recent financial banking institution established in the Kingdom of Saudi Arabia, as it began its operations in 2006. After two years of starting its activity, it was listed on the Saudi Stock Exchange (Tadawul). The bank's capital is SAR20 billion. Its headquarters are located in the capital, Riyadh. Its banking operations are supervised by the Banking Control Department of the Saudi Central Bank. Establishm...
