As GenAI revolutionises customer experiences, we explore the pivotal role of technological innovations and regulatory frameworks in shaping the future of financial services
The bank will provide services for both corporate and institutional clients, including financing and working capital solutions
GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf countries’ currencies are pegged to the dollar
These developments follow the $32m Series A fundraise and partnership with Visa aimed at strengthening its presence in the Saudi market
The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month
The open banking platform plans to use the proceeds of the Series A funding round to accelerate growth in Saudi Arabia
The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate