Said Al Marhoobi

It’s essential to know how IPS works in the MENA region while having a central platform to facilitate the process. Reach out to me or our Fuse team if you are interested in growing your business in the region. #fusefinance #businessgrowthandpartnership

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Saudi Vision 2030 aims to build a harmonious culture in the country that prioritizes excellent social care and healthcare services, as well as a sense of national pride, high-quality entertainment, sustainable living, and cultural heritage. Saudi Arabia’s e-commerce channel is primed for continued growth. By 2024, the number of Saudi internet users for e-commerce (selling and buying) is expected to reach 33.6 million, an increase of 42 percent from 2019. Saudi Arabia boasts one of the highest smartphone penetration rates 97% in the world, its mobile broadband internet subscriptions are higher than the majority of advanced markets, it ranks tenth in the world for the fastest internet speed, and a relatively high share 72% of its population that is over the age of 15 possesses a bank account.  While local e-commerce platforms dominate the Saudi market, new players are entering – including Amazon Prime, which entered Saudi Arabia in January 2021. Importantly, the Saudi Arabian Government is taking steps to strengthen Saudis’ confidence in e-commerce and to spur the use of e-commerce platforms by strengthening the country’s e-commerce regulatory environment to protect consumers and companies. The existence of eCommerce enterprises is critical to successfully implementing Saudi Vision 2030’s aims, which seek to strengthen the economy and improve the community. Recognizing technology’s great potential, the Vision aims to contribute to economic growth, create job opportunities, and improve customer satisfaction. To achieve the economic goals defined in Vision 2030, Saudi Arabia is actively exploiting internet business platforms to promote non-oil industries such as technology and entrepreneurship. This program aims to provide job opportunities, stimulate innovation, and attract investment, particularly from young people. eCommerce platforms help small firms and entrepreneurs expand their consumer base by improving shopping experiences, which boosts the economy’s vibrancy and competitiveness. #ecommerce #businessgrowth #2024strategies #businessstrategy #businessdevelopment #ksavision2030 https://lnkd.in/gMiFCrUB. 

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Most banks are racing to understand what the new generation of digitally savvy mobile-oriented consumers want from their banking services. Our new Bank of the Future Saudi Arabia Retail Banking Survey revealed a clear demand for improved services and innovative products. But what exactly do consumers want from the bank of the future? ▪ 68% say they are comfortable to be guided by AI in their day-to-day decisions ▪ 84% want apps that provide personalized insights into their finances ▪ 86% want a better view of all their financial products in one place. Do you agree? 👉 To read the full report and explore how banks should respond, click here: https://okt.to/Xndyma Contact: Naim Alame, Kushal Dhammi, Nadir Basma, PhD #BankingSaudi #MiddleEastBanking #SaudiBanking #BankOfTheFuture #CapcoMiddleEast #GenAI #Hyperpersonalization #FutureOfBanking #CoreTransformation

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SNB vs. Alrajhi: First Half 2024 Hey folks, it’s about time to shed some light on the long awaited results from banking sector .. as usual I’ll start by offer a quick look on the two leading players 🔥🔥🔥 SNB continues to maintain its leading position on all shown indicators .. also manages to maintain assets above 🔥 Trillion-Riyal 🔥 mark, tailed by Alrajhi who’s comparison numbers with same period shows steady performance, I think we may see Alrajhi hit that Trillion-Riyal mark by Q2-2025 if not Q1. Loans portfolio favors SNB who almost doubled the gap from SR. 7.3B by end of 2023 to SR. 15.3B by Q2-2024. 🟩🟦🔝🟦🟩 (SAR Million) Operating Income: 🟩 17,856 3.64% 🔥 🟦 14,866 9.24% Net Profit: 🟩 10,270 2.32% 🔥 🟦 9,103 9.74% Deposits: 🟩 632,693 5.06% 🔥 🟦 622,572 9.09% Assets: 🟩 1,088,112 9.23% 🔥 🟦 866,960 10.59% Loans: 🟩 637,235 10.31% 🔥 🟦 621,891 7.39% Provisions: 🟩 775 36.20% 🔥 🟦 876 21.84% 💰Bye Bye Free Money: Time & Saving Deposits are at their highest historically in Saudi Banking Industry, at SR. 903,712 by Q2-2024. This represent 35% of total deposits, compared to 23% only as of end of 2021. Total Deposits Q2-2024 = SR. 2,669,519 (47% acquired by SNB & Alrajhi). 🏦 The Fed decision to maintain rates at its current levels is another confirmation of its past behavior: it’s too early, until it’s too late. Markets reaction tells it all. I think we all now know what is going to happen in the Fed’s next meeting in September. 🙆🏻‍♂️

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With Raidiam Advise, we bring our expertise to guide you through every stage of your open banking journey.🚀 In the rapidly evolving world of open banking and open finance, staying ahead of the curve is crucial. That’s why Raidiam Advise offers tailored training and education programmes to equip your team with the knowledge they need to navigate the complexities of open banking ecosystems. Whether you're looking to understand regulation, standards, or implementation models, our comprehensive courses are tailored to suit your organisation’s specific requirements. We can help your team: 📖 Understand open banking’s principles, standards, and global use cases. 💡 Gain practical knowledge through real-world examples and interactive workshops. 🔐 Develop the skills needed to deliver secure and trusted open banking frameworks. Our modular courses are flexible and designed to suit your organisation’s unique needs, no matter what role you play in the ecosystem. Ready to upskill your team? Learn more and get in touch today: https://hubs.li/Q02WNhJW0 #OpenBanking #OpenFinance #DigitalTransformation #FinTech

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Nice and complete edition to better understand financial services evolution du Pay

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Please share your views in the Draft Regulatory Framework of Open Banking Services of CBO #Fintech #OpenBanking

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🚨🚨🚨 Emkan Finance announced today obtaining BNPL license from SAMA. This move comes a week after Tamara the leading BNPL player move into Consumer Finance space. I covered that move last week ➡️ https://lnkd.in/dY_mdwCB Emkan has established itself as a digital financing player growing confidently in the shadows of Al-Rajhi Bank backing their activities. Targeting mainly underserved or excluded segments of credit seeking consumers and SMEs. Emkan move today, is the opposite of that of Tamara, which makes it a very interesting move in my opinion for many reasons. I have captured Neoleap and Urpay in the image below to show the brilliance of Al-Rajhi ecosystem. And, I hope my understanding is as accurate as I’m about to illustrate shortly because nothing yet is published about how the service will work. So my thinking is as follows: Currently, Urpay provides the digital wallet and cards for (Consumers) - Urpay is the fastest growing wallet in KSA with more than 5 million customers chasing StcPay who is leading the market with over 10 million customers. So, this covers the “issuing” side. Now, neoleap manages the “acquiring” side, providing merchants with various payments solutions. Remember Tamara, with more than 30,000 merchants. Well, neoleap has more than 180,000 merchants. Imagine the bargain power for Emkan as a BNPL orchestrator, who is already providing financing services to neoleap merchants. Emkan finance is a single sided platform and wouldn’t cut it alone, but the ecosystem does what neither of its parts can achieve alone. That’s the brilliance of neoleap, Urpay and Emkan as an ecosystem. Simply beautiful. 👋🏼🤓 #fintech #strategy #digitaltransformation

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Labor Market Leaps in Saudi Arabia Saudi Arabia has achieved in the labor market, as highlighted in the World Economic Forum 2024 reports: 🌟 Skilled Employee Availability: Ranked 4th globally, a significant leap of 3 ranks since 2021. This success is driven by the Professional Accreditation Program and Parallel Training initiatives focusing on fundamental and technical skills and career guidance. 🌟 Gender Equality: Climbing to 13th place globally, Saudi Arabia has achieved equal pay in 2024. Women now hold 43.8% of management positions in Q1 2024, with 35.8% economic participation and 34.1% in the labor market. 🌟 Flexible Working Arrangements: Ranked 4th globally, improving by 7 ranks since 2021. The introduction of new work patterns, including flexible work, freelance opportunities, and telework programs, has played a pivotal role. These strides reflect our commitment to fostering a dynamic, inclusive, and flexible labor market that supports both our economic growth and societal well-being. #SaudiArabia #LaborMarket #WorldEconomicForum #GenderEquality #business #EconomicGrowth #Innovation

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🚀 Is Apple Pay about to expand into Egypt next? Apple Pay has officially launched in Oman, completing its presence across the GCC with support from major banks like Bank Muscat, Sohar International, BankDhofar, National Bank of Oman, and more. 💳 Since its launch in the UAE (2017)with Central Bank of The UAE approval, followed by KSA (2019) With Saudi Central Bank – SAMA and Qatar (2021)with Qatar Central Bank. Apple Pay has brought secure, fast payments to millions of users. The GCC digital payments market is expected to hit $27 billion by 2025, with Apple Pay leading the charge. Next up? Rumors say Egypt is on the horizon, with talks underway with the Central Bank of Egypt to kick off Apple Pay’s North Africa expansion. 🇪🇬 Do you think Egypt is next? Let’s discuss below! 👇 hout out to the Apple Pay MENA team! Congrats Alain Giadin and Sabre Bugri on the great work! 🚀 #ApplePay #Fintech #DigitalPayments #GCC #Egypt #MENA #Innovation

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Using Big Data and AI , Hajj management could be a Big Game Changer! Enhanced Crowd Management Use Technology for Monitoring: Implement CCTV, drones, IoT sensors, and AI algorithms for real-time crowd monitoring and control. Staggered Ritual Timings: Reduce congestion by implementing staggered timings for rituals. Infrastructure Improvements Expand Key Facilities: Expand facilities at key sites and designate multiple emergency exits. Heat Mitigation: Install misting fans, shaded areas, and cooling stations. Health and Safety Measures Increase Medical Facilities: Boost the number of medical facilities and train volunteers in first aid. Hydration Stations: Establish numerous hydration stations for easy water access. Technology and Innovation Wearable Devices: Provide wearable devices for health monitoring. Mobile Apps: Develop mobile apps for real-time updates and use AI and big data for incident prediction. Regulatory and Policy Changes Enforce Pilgrim Quotas: Manage pilgrim numbers with quotas and enhance educational campaigns on safety. Environmental Control Cooling Solutions: Implement reflective surfaces and vegetation for cooling. Air Quality Monitoring: Continuously monitor air quality. Simulation and Training Emergency Drills: Conduct regular emergency drills and use virtual reality for training staff. Collaboration and International Cooperation Adopt Best Practices: Learn from global experts and invest in research for innovative solutions. Implementation Plan Data Integration and Coordination: Integrate data from various sources, coordinate efforts with stakeholders, and train staff in AI tool usage. Case Studies and Examples a) Tokyo Olympics: Crowd management systems used during the event. b) Disneyland: Use of predictive analytics for managing visitor flow. c) NYC Marathon: Health monitoring wearable devices used by participants. Conclusion Leverage Big Data: Enhance safety and efficiency during Hajj using big data analytics, aiming for zero loss of lives while accommodating increasing numbers of pilgrims. #HajjSafety #CrowdManagement #TechInnovation #HealthAndSafety #EnvironmentalControl #GlobalCooperation #BigData #SmartInfrastructure

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I agree, businesses in 2024 need to integrate their efforts in sales, marketing, and business development to ensure survival and growth. Saudi Arabia’s Ministry of Commerce has set up a strategic roadmap for its chambers of commerce in 2024. The directive emphasizes that entities must strategically invest in high-potential sectors and capitalize on regional diversification opportunities. Source file: https://lnkd.in/duvAZtJY 2024 will likely remain unchanged with a high demanding economic, geopolitical and technological landscape. Planning ahead is crucial to be prepared for 2024, leading businesses will need to think ahead, remain agile, and ensure a balanced approach to growth. As the year unfolds, businesses will need to remain agile, continuously evaluating and adjusting their strategies to navigate a challenging and ever-changing environment, from aligning your sales and marketing resource and strategy, exploiting the value of existing assets, to prioritising employee wellbeing. 1) Strategic adaptability: In 2024, businesses need flexibility and continuous evaluation to adapt to a dynamic environment. Contingency plans and diversification are crucial to navigating challenges. 2) Sales and marketing alignment: Streamline processes by aligning sales and marketing strategies. Clear handoff points, lead definitions, and automation tools enhance efficiency and collaboration. 3) Wise investments: Invest in growth wisely. Regularly evaluate the ROI of marketing campaigns and sales initiatives. Allocate resources based on data and analytics to optimize budget and maximize growth potential. 4) Utilize existing assets: Leverage existing data, content, and systems for growth. Analyze customer data, engage inactive contacts, repurpose content, and optimize systems like CRM for better results. 5) Employee wellbeing: Prioritize employee wellbeing for a motivated and productive workforce. Implement mental and emotional health initiatives, flexible work arrangements, stress management, and career development. Driving business growth in 2024 requires strategic planning, adaptability, efficient processes, wise investments, asset utilization, and employee prioritization. By implementing these strategies, companies can position themselves for success in a competitive and ever-changing marketplace. Stay agile, aligned, and committed for a successful 2024. Source file1: https://lnkd.in/d-NMsxw8 Source file 2:https://lnkd.in/dVDnHPVK #businessgrowth2024 #strategicadaptability #salesmarketingalignment #wiseinvestments #utilizeexistingassets #employeewellbeing #agilebusiness #2024success #efficiencymatters #adaptandthrive #ksavision2030

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in #Global_CSR_Forum a promising steps will be taken to redefine how businesses drive impactful changes for society and the environment

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For Manufacturing and Industrialization investors: #AbuDhabiBusinessWeek is a significant event for manufacturing and industrialization investors, not only within Abu Dhabi and the UAE but also on a global scale. Attendance at this event is crucial, as it offers valuable insights into the robust infrastructure of Abu Dhabi, which can facilitate business expansion and enhance investment opportunities. Engaging in this forum will undoubtedly contribute to the growth and value of their investments.

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Including Islamic Banking and Finance products and services enables to provide diverse options to attract, retain and grow customers as well as for portfolio diversification. Shaguftta Parveen Zubair Mughal #islamicbankingandfinance #interestfreebanking AEMFI National Bank of Ethiopia Digital Finance Practitioners Association of Zimbabwe

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This report highlights key themes, trends, and challenges in the industry, offering valuable insights into how social media can shape the future of banking in KSA. Read the full report: https://pwc.to/4epweim

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📢 Achieving CX Superiority Through Cross-Industry Insights Customer Experience (CX) superiority is not just about perfecting processes within a single industry—it’s about harnessing knowledge from various sectors to create value that truly resonates. A big thank you to Bank Muscat - Amna Al Zubaidi and BankDhofar -Ammar Askari for joining our recent panel discussion arranged by the CX team Al Mouj Muscat ! Their insights into leveraging digital transformation and maintaining a balanced omni-channel approach were invaluable. Plus, I had the fun opportunity to moderate the session—hopefully, managed to keep it as engaging as it was insightful! Here’s to more cross-industry learning and evolving together toward CX excellence! #CXExcellence #DigitalTransformation #OmniChannel #CustomerExperience #CrossIndustryLearning

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"ADIB is proud to announce a strategic partnership with Emirates Development Bank (EDB) to empower UAE SMEs. As a leading financial institution committed to fostering the growth of the local economy, we recognize the vital role SMEs play in driving economic development. This partnership strengthens our ability to provide tailored financing solutions that meet the unique needs of these businesses. Together with EDB, we are dedicated to advancing financial inclusion for SMEs across various sectors. Our goal is to empower enterprises to scale, innovate, and navigate financial challenges more effectively. This partnership aligns with ADIB's broader SME initiatives, including: Digital SME Instant Account Opening: Simplifying the onboarding process through our user-friendly mobile app. ADIB Business Souq: Offering exclusive deals and discounts to reduce operational costs. By combining our expertise and resources, we aim to create a more supportive ecosystem for SMEs in the UAE. Join us in driving economic growth and empowering businesses to reach their full potential. #SMEFinance #UAE #EconomicGrowth #Partnership #ADIB #EDB

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