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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 t...

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...

The Budget of the Kingdom of Saudi Arabia is the general budget of the state, representing the regulatory framework for revenues and expenditures for one year. It contributes to achieving the ambitious goals of Saudi Vision 2030, funding programs to realize the vision. It is also crucial for improving the country's credit rating and developing the gross domestic product. Stages of preparation The annual general budget of the state goes through three main stages every year, which are: Prepa...

Fiscal policies in the Kingdom of Saudi Arabia involve the management of all instruments of government spending and revenues, including state-owned assets and liabilities. Through these policies, the government aims to achieve a set of economic goals, such as macroeconomic stability, optimal resource allocation to ensure full employment, income redistribution, and financial sustainability. Importance of the fiscal policy Fiscal policies are a cornerstone of macroeconomic policies, encompassing ...

  After the unification of Hejaz with Najd in 1925, and by the order of King Abdulaziz Bin Abdulrahman Al Saud , large quantities of copper coins of half qirsh and quarter qirsh denominations were minted. The full name of King Abdulaziz (Abdulaziz Bin Abdulrahman al-Faisal Al Saud) is engraved on its face in Tughra Script, along with the year of minting (1925). The back of the two denominations shows their value and the place of minting; ie; Umm al-Qura ( Makkah al-Mukarramah ). This issuance,...

Real Estate Mortgage in the Kingdom of Saudi Arabia is one of the financing products that contribute to providing financing to beneficiaries, including individuals, institutions, and companies, for the purpose of owning real estate. Ownership serves as a guarantee for the borrowed funds. This entails securing the real estate with another party or entity as a condition for obtaining a loan, debt, or other financial obligations until the debt is fully repaid, and the property is subsequently recl...

The Instant Payment System, “Sarie,” is a round-the-clock payment system that accelerates ‎and facilitates money transfers among local banks in the Kingdom of Saudi Arabia. It is a service initiated on February 20, 2021, by the Saudi Central Bank to optimize the national ‎payments system and the entire financial sector. Services of the Instant Payment System “Sarie”‎ Customers of local banks can transfer money through the instant payment system by using their mobile phone ‎numbe...