Bank transfers and electronic payments from Saudi Arabia to the United Arab Emirates are in some cases being blocked, while those going through other corridors are operating as usual, Bloomberg reported Tuesday (July 7), citing unnamed sources. Both businesses and individuals have encountered these problems...
Barclays is moving ahead with its plans in Saudi Arabia, despite the war in Iran, Barclays Group Chief Executive C.S. Venkatakrishnan said Thursday (April 16). The bank is seeking a banking license in Saudi Arabia and is preparing to open a regional headquarters in the country later this...
Saudi Arabia’s National Infrastructure Fund (Infra) and the kingdom’s global artificial intelligence (AI) company Humain announced a $1.2 billion strategic financing framework agreement to expand AI and digital infrastructure projects in Saudi Arabia. The framework agreement includes nonbinding financing terms of Humain’s development of as much as...
Saudi Arabia is harnessing advanced technologies to power its national digital transformation guided by a five-pillar framework, according to Aramco’s senior vice president of digital and information technology. “Saudi Arabia is undergoing a profound transformation,” said Aramco’s Sami Ajmi, during a speech at recently held...
May 21, 2025
Saudi Arabia is emerging as a focal point in cross-border payments thanks to the rise of digital wallets. The PYMNTS Intelligence report “Global Money Movement: Saudi Arabia Edition,” a collaboration with TerraPay, revealed that 54% of Saudi consumers who made cross-border payments in the past year used digital wallets. The figure placed the country behind […]
October 15, 2024
In Saudi Arabia, consumers love Click-and-Mortar™ shopping, which mixes the best of online and in-store experiences. More than half of the country’s shoppers prefer either digitally assisted in-store shopping...
March 21, 2024
Saudi Arabia aims to carve out a leadership role in the burgeoning artificial intelligence (AI) field with a proposed $40 billion investment fund, as The New York Times reported. The...
July 05, 2023
Real-time payments have gained significant traction worldwide, revolutionizing how consumers and businesses conduct financial transactions. Many countries have successfully implemented real-time payment systems to enhance efficiency and meet the growing...
September 20, 2026
Saudi Arabia has reportedly withdrawn from China’s mBridge digital currency/cross-border payments program. That’s according to a report Sunday (Sept. 20) by the Financial Times (FT), which says the program has drawn controversy in the U.S. due to concerns that participating countries could use it to skirt dollar-dominated payment systems like Swift. mBridge, soon due to […]
July 07, 2026
Bank transfers and electronic payments from Saudi Arabia to the United Arab Emirates are in some cases being blocked, while those going through other corridors are operating as usual, Bloomberg...
April 16, 2026
Barclays is moving ahead with its plans in Saudi Arabia, despite the war in Iran, Barclays Group Chief Executive C.S. Venkatakrishnan said Thursday (April 16). The bank is seeking a banking license in...
January 21, 2026
Saudi Arabia’s National Infrastructure Fund (Infra) and the kingdom’s global artificial intelligence (AI) company Humain announced a $1.2 billion strategic financing framework agreement to expand AI and digital infrastructure projects in Saudi...