Lewa Abukhait

Saudi Exchange is actively enhancing its products to align with global best practices and positioning the main market as a gateway for potential growth opportunities. Saudi Exchange, along with broader Saudi Tadawul Group, has played a pivotal role in bringing about significant changes and improvements to the infrastructure, services, and products within the market. This manual provides detailed insight on the procedures for assisting companies for listing on the Saudi Exchange. ✅ The goal is to empower local, regional and international investors to access diverse investment opportunities, including securities , debt instruments , financial derivatives , closed end funds, exchange traded funds, sukuk, bonds etc. ✅ The manual provides vital information on procedures for obtaining approval from the Capital Market Authority or the Saudi Exchange. ✅ Foreign entities seeking listing on the main financial market should have a minimum market capitalization of not less than 4 billion Saudi Riyals for a period of at least six months preceding the application date. ✅ They should have sufficient insurance coverage from a local insurance company for all board members and senior executives to compensate shareholders for damages that may arise due to violations or negligence. ✅ The auditor reviewing the financial statements must be from one of the major accounting firms and must conduct the audit process in accordance with international audit standards. ✅ Financial claims should include legal costs, lawsuits, fines, fraud, and dishonesty. ✅ The auditor must commit to provide the authority with requested information and audit papers, and the foreign issuer must commit to disclosing specified information upon changing auditors. ✅ It also emphasizes on the importance of meeting the established criteria and requirements to enhance the chances of obtaining the necessary approvals for the listing of foreign companies on the Saudi Exchange.

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Join the Monroe Capital team at the Future Investment Initiative's (FII) 8th Edition in Riyadh from October 29 - 31, 2024. Chairman and CEO Ted Koenig will speak on the "Alt Asset Series: Can Alternative Assets Still Buffer Portfolios During Geoeconomic Stress?" panel. He will discuss if alternative assets can continue to provide a reliable buffer against market volatility or if diversification and growth will lead to a reevaluation of their role in investor portfolios. If you’d like to meet with members of our team, reach out Sweta Chanda and Waleed Noor. #FII8 #PrivateCredit

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Saudi can lead the Semiconductor Industry by focusing on: 1. National Semiconductor Strategy: Align with Vision 2030, focusing on public-private partnerships and targeted investments. 2. R&D Investment: Establish specialized R&D hubs and incentivize innovation through grants and tax benefits. 3. Skilled Workforce Development: Create advanced education programs and attract global talent. 4. Strategic Partnerships: Form alliances and consider acquisitions of leading semiconductor firms. 5. Local Ecosystem Development: Build a robust local supply chain and supportive industries. 6. Leverage Strengths: Utilize energy resources and regional leadership to position Saudi Arabia as a semiconductor hub. 7. Focus on Niche Markets: Specialize in rapidly growing areas like AI chips, automotive semiconductors, and IoT. 8. Pro-business Policies: Implement favorable policies and strengthen IP protection. 9. Global Branding: Host industry events and build a strong brand around Saudi-made semiconductors. 10. Sustainability Focus: Invest in green manufacturing and remain adaptable to industry changes. National Center for Privatization & PPP should take a leading role to bring public and private sector to achieve #MBS Saudi Vision 2030 goals. Others should align to support form PPP initiatives by bringing and facilitating global collaboration. Ministry of Investment Ministry of Industry and Mineral Resources Ministry of Energy Ministry of Transport and Logistic Services Talat Hafiz https://lnkd.in/dRS_y7Pz

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e& enterprise has signed a three-year MoU with SERGAS Group to revolutionize gas distribution in the GCC region. This partnership focuses on delivering cutting-edge solutions including: ✅ Smart meters & IoT-enabled systems ✅ Cybersecurity & multi-cloud infrastructure ✅ Digital payment platforms & custom software development Together, e& enterprise and SERGAS Group are introducing advanced technologies to enhance safety, ensure early incident detection, and promote sustainable gas consumption. Ragy Magdy, Chief Commercial Officer at e& enterprise, emphasized: "By harnessing AI and smart solutions, we’re enhancing safety, operational efficiency, and sustainability across gas distribution systems." Mohamed Damak, CEO of SERGAS Group, added: "Our collaboration introduces state-of-the-art technologies for remote monitoring and control, setting new benchmarks for safety and sustainability." This partnership reinforces both companies' commitment to building resilient gas infrastructure while empowering consumer participation in sustainable energy practices. #DigitalTransformation #SmartEnergy #Sustainability #IoT #EnergyEfficiency #Innovation #eandEnterprise #SERGASGroup

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE’s Masdar (Abu Dhabi Future Energy Company) acquiring a ~$1.7B stake in #Spain’s Saeta Yield, #SaudiArabia topping the #GCC with $2.1B in #entertainment sector revenue, #Egypt maintaining its record high interest rates, #Pakistan targeting $25B in #IT exports, Dubai Blockchain Center and Cardano Foundation partnering on MENA #blockchain education, MENA countries ranking 2nd globally on IBM’s #cybercrime loss study, #Thailand’s production firms seeking growth on #streaming platforms, Tencent Cloud expanding #palmverification in #Southeast Asia, and the Tower Semiconductor-Adani Group JV planning a $10B #semiconductor manufacturing facility in #India. 🇦🇪 #UAE New department CEOs named for Dubai Department of Economy and Tourism including Issam Kazim, Mohammed Shael Alsaadi, Sahia Ahmad, Yousuf Lootah, and Essa Bin Hadher 🇸🇦 #KSA 230 #fintechs generating $1B+ in revenue 🇪🇬 #EGYPT 4 medical cities to be established with $1.8B investment 🇵🇰 #PAKISTAN Google to manufacture 500,000 #Chromebooks / year by 2026 🇰🇼 #KUWAIT Agility may offload Tristar Group stake 🌍 #MENA Tenaui Middle East opens largest digital printing press 🇹🇷 #TURKEY Global #AI regulation needed - Industry and Technology Minister 🇹🇷 #TURKEY, Egypt agree to 3x trade to $15B, 2x flights 🇸🇬 #SINGAPORE companies 1st movers in India, MENA expansion 🇹🇭 #THAILAND to fall short of #EV target 🇮🇳 #INDIA #Africa’s biggest insurer Sanlam enters market via #ShiramCapital partnership

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE’s XRG securing approval for its $15B Covestro takeover, NEOM and Samsung Electronics' $350M construction #robotics JV in #SaudiArabia, #Egypt's Paymob enabling #ApplePay for merchants, #Pakistan exempting Special Tech Zones from #internetshutdowns, Careem Pay launching instant transfers to #Lebanon, Mastercard and Dgpays developing advanced #payment and loyalty tech for the #MENA, #ASEAN concluding cross-border #digitaleconomy rules by 2025, #SoutheastAsian #tech #startups missing out on the $60B #AI boom, and #qcommerce users in #India voicing concerns over safety. 🇦🇪 #UAE UAEV Official to introduce Ministry of Energy #EV charging rates from 1/2025 🇸🇦 #KSA drives 44% ▲ in #MENA festive #ecommerce orders - Flowwow and Admitad 🇪🇬 #EGYPT MrBeast rents pyramids for 100 hours for a video 🇵🇰 #PAKISTAN faces pressure over #internet, #socialmedia bans from governing coalition 🇴🇲 #OMAN licenses Serb #drone registration, traffic platform 🌍 #MENA e& becomes 1st globally to deploy Nokia network slicing 🇹🇭 #THAILAND's PTT Group hits roadblock with Foxconn EV JV on hold 🇮🇩 #INDONESIA studying nickel mining quotas to ▲ prices 🇮🇳 #INDIA proposes law to ban unregulated #lending

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Saudi Banks: Among the Most Profitable and Strongest Globally 🔅 Saudi Arabia's Minister of Finance, highlighted that the Saudi banking sector is ranked among the 𝘁𝗼𝗽 𝗳𝗶𝘃𝗲 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝘀𝘁 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝘀𝗲𝗰𝘁𝗼𝗿𝘀 𝘄𝗼𝗿𝗹𝗱𝘄𝗶𝗱𝗲, as confirmed by assessments from the International Monetary Fund (IMF) and global credit rating agencies. 🔅 The Ministr clarified that Saudi banks' borrowing from international markets does not reflect any liquidity issues. Instead, it aligns with international recommendations to diversify asset and liability portfolios prudently. He emphasized the importance of leveraging diverse financing tools such as bonds and sustainable sukuk, rather than relying solely on deposits. 🔅 He further added that Saudi banks are ranked among the most profitable globally, with the ability to generate returns significantly exceeding financing costs. This positions the Saudi banking sector as one of the most efficient and resilient systems in the world. 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭 𝐒𝐚𝐮𝐝𝐢 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡: 🔸️ The IMF Report (September 2023) noted the Saudi economy’s robust growth and the banking sector’s strong capital adequacy and financial intermediation efficiency. 🔸️ In April 2023, Fitch Ratings upgraded 8 Saudi banks to "A-" with a stable outlook, citing strong financial standing and the positive impact of Saudi Arabia's economic reforms. 🔸️ The 2024 IMF Report affirmed the resilience of Saudi banks to external shocks, supported by solid foundations and high liquidity levels. 𝐀 𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐋𝐞𝐚𝐝𝐞𝐫 🔸️ The Saudi banking sector continues to achieve exceptional profitability and efficiency, reinforcing its status as one of the strongest financial systems globally and contributing to the success of Saudi Vision 2030. #SaudiBanks #BankingSector #SaudiEconomy #Vision2030 #FinancialMarkets #SustainableSukuk #GlobalBanking #Finance #Investment #EconomicReform #Profitability #Efficiency #IslamicFinance #SaudiVision2030 #Markets #Economy

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE’s DUBAI FUTURE FOUNDATION introducing a RDI grant, #SaudiArabia’s Saudi Tadawul Group bosting cooperation with Qatar Stock Exchange, #Egypt positioning itself as India’s gateway to Africa, #Pakistan developing an #EV framework by November, #Jordan's #KingAbdullah naming a new Prime Minister, Qatar Investment Authority raising its stake in # Iberdrola, #Vietnam’s M&As recovery, low-cost #Chinese goods pressuring #SoutheastAsian governments to protect local manufacturers, and #India using #qcommerce data to understand consumption. 🇦🇪 #UAE G42 begins receiving NVIDIA #AI #semiconductors 🇸🇦 #KSA Alcoa selling its 25% stake in Ma'aden JV 🇪🇬 #EGYPT PM, Finance Minister in KSA to boost ties, investment 🇵🇰 #PAKISTAN NHA, WAPDA, PAKISTAN POST designated essential SOEs 🌍 #GCC Revolut seeks #EMI, remittances licenses from Central Bank of The UAE for regional push 🌍 #GCC #EV sector to gain momentum despite headwinds 🇹🇷 #TURKEY Central Bank to maintain rates at 50%, consider November cut 🇹🇷 #TURKEY #Construction contractors generate $18.5B in global revenue 🇸🇬 #SINGAPORE Financial hub status may gain from businesses exiting #HongKong 🌏 #SEA Global funds deploying assets due to rate cut potential, attractive valuations 🇮🇳 #INDIA Meta betting on #Reels, WhatsApp for Business for growth

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🔥 Breaking Ground in Saudi Tech! Abikhdmh, a pioneering digital services platform, has just secured $800,000 in Seed funding. Founded by brothers Abdulmohsen and Mohammed Al-Mufadli in 2022, the startup is set to revolutionize how Saudis access government and business services. Key Highlights: - Innovative e-services platform transforming digital transactions - Expanding into flight bookings, business services, and recruitment solutions - Perfectly aligned with Saudi Arabia's Vision 2030 digital transformation goals The funding will supercharge ابي خدمة | Abikhdmh 's mission to create a seamless, user-friendly digital ecosystem. Watch this space as they redefine convenience in Saudi Arabia's digital landscape! #SaudiTech #Startup #DigitalTransformation #Vision2030 #Innovation https://lnkd.in/dTYPJGQz

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ADQ and Oman Investment Authority (OIA) have partnered to launch a $180 million technology-focused fund. This strategic move aims to accelerate digital transformation and economic growth across the MENA region. The fund will invest in high-potential SMEs and startups in key sectors like FinTech, EdTech, and cleantech. This will empower these businesses and stimulate the emergence of a vibrant tech ecosystem, ultimately enhancing regional competitiveness. This initiative builds on a 2022 framework agreement between ADQ and OIA, highlighting their long-term commitment to fostering innovation and prosperity in the MENA region. #MENA #technology #investment #partnership #digitaltransformation #SMEs #startups #innovation #MENAtech #economicgrowth

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🚀 Key Takeaways from the Saudi Arabia’s Fintech 2023 Annual Report 🚀 The Saudi fintech scene is experiencing massive transformation. With innovation at its core, strong regulatory support, and a surge in investments, the Kingdom is quickly becoming a global fintech powerhouse. Here’s what’s happening: 1️⃣ Digital Payments Take the Lead - 70% of all retail transactions are now cashless! The adoption of POS systems and EMI digital wallets is skyrocketing. - This shift is reshaping how businesses and consumers interact, placing Saudi Arabia at the forefront of digital payments. 💳📲 2️⃣ BNPL is Booming - BNPL saw a huge 32% jump in users, reaching 13.2M consumers in 2023. - This flexible payment model is changing the game for both retail and e-commerce, offering consumers easier ways to shop and businesses a boost in sales. 🛒💸 3️⃣ Debt Crowdfunding Growth - Debt Crowdfunding platforms recorded a 146% growth in loan value in 2023, helping SMEs secure vital funding. - This model is opening up new doors for financial inclusion, allowing more businesses to scale. 🏦💡 4️⃣ Record-Breaking Investments - Saudi fintech companies raised a whopping SAR 6.9B in 2023, far exceeding the SAR 742M target. - The sector is well on its way to hitting the SAR 12.2B target by 2030, fueling even more innovation and growth. 🚀💰 5️⃣ Big Economic Impact - Fintech contributed SAR 3.075B to Saudi Arabia’s GDP in 2023, surpassing expectations and playing a key role in diversifying the economy. 📊 6️⃣ Job Creation on the Rise - Employment in the fintech sector doubled, with 6,726 direct jobs created in 2023, exceeding the target of 3,045. The fintech sector is becoming a major economic driver in the Kingdom. 👩‍💻👨‍💻 7️⃣ Regulatory Support at its Best - With strong backing from SAMA, CMA, and the new Insurance Authority, the fintech ecosystem is thriving in a regulatory sandbox that promotes innovation while ensuring security and compliance. ✅ Saudi Arabia is on track to become a global fintech hub, with even more innovation, job creation, and economic growth ahead—all aligned with Vision 2030. 🌟 #Fintech #SaudiArabia #BNPL #DigitalPayments #DebtCrowdfunding #VentureCapital #FintechStrategy #EMI #Vision2030 #EconomicImpact #Innovation #TechLeadership #SMEs #FintechGrowth

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE’s DUBAI FUTURE FOUNDATION launching an #IP hub, EFG Holding mulling a #SaudiArabia #regionalHQ, #Egypt’s Beltone launching 8 new funds on the Egyptian Exchange - EGX, 80+ firms from #Pakistan attending GITEX GLOBAL Largest Tech & Startup Show in the World, Dubai Financial Market emerging as the best performing #GCC stock market, rising tensions hitting #MENA investor confidence, Dyson cutting #Singapore jobs, Oracle planning a$6.5B #Malaysia investment, and 13 companies filing for #IPOs in a day in #India. 🇦🇪 #UAE Space42 makes Abu Dhabi Securities Exchange debut after Bayanat Smart Solutions-Yahsat Space Services merger 🇸🇦 #KSA Asset management AUM ▲to $300B by 2026 🇪🇬 #EGYPT International Monetary Fund delays 4th review of $8B loan program 🇵🇰 #PAKISTAN is 2nd largest #Chinese solar #PV market 🌍 #GCC LuLu Group International may just do a single #ADX listing 🌍 #GCC talabat’s valuation may surpass parent Delivery Hero in Dubai #IPO 🇹🇷 #TURKEY is largest MENA crypto market, 7th globally, $137B in transactions - Chainalysis 🇹🇷 #TURKEY ADQ may acquire Odeabank 🇸🇬 #SINGAPORE plans $92M boost for #AI for Science initiative 🇲🇾 #MALAYSIA, #Cambodia introduce #crossborder #QRpayments   🇮🇳 #INDIA #Ecommerce orders ▲ 20% as festive season begins

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Saudi Arabia FinTech Ecosystem Mapping Saudi Arabia has a variety of advantages when it comes to FinTech growth. In addition to a young population (two-thirds below 35 years), large market size (35 million people), and OECD membership, Saudi Arabia’s tech sector has a large ecosystem of stakeholders ready to invest and support entrepreneurs. Accelerators, such as Taqadem, Badir, Flat6Labs, and even MIT’s Enterprise Forum Arab Startup Competition, are crucial to early-stage growth, giving fintechs the opportunity to test and tweak their product. These accelerators also give fintechs metrics of their product’s viability which they can show to investors. Raising earlystage capital is particularly crucial for fintechs operating in regulated verticals in order to obtain the necessary financing to satisfy the regulators’ capital requirements to obtain the license. Endeavor recently published a report on the Riyadh Tech Sector which maps out accelerators, funds, and support organizations facilitating tech entrepreneurship in Saudi Arabia’s capital. Vision 2030, the national strategy for diversifying the Kingdom’s economy, essentially calls for an all-hands-on-deck approach to spurring fintech growth to reach 525 fintechs by the year 2030. SAMA, CMA, the Financial Sector Development Program, and government-sponsored initiatives such as Fintech Saudi are vital elements of that strategy. Total Capital Raised by Segment 2017-2022 A snapshot of the FinTech sector below shows that many companies remain small, while a few have grown substantially in terms of number of employees. The largest players by employee size – such as Foodics, geidea, Emkan Finance, PayTabs, Hala, among others – raise some of the sector’s largest rounds, generate high transaction volume, and have the highest rates of gender diversity. Raising capital is a crucial part of startup growth, particularly in FinTech where international competition is tough. Broken down by segment, Lending companies have captured 51% of total financing raised, followed by Payment services, which have raised 26%. These two segments raised large rounds in 2021 and 2022, such as a US$110 million Series A and a US$100 million Series B both raised by Tamara, a Lending startup founded by entrepreneurs Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Al Babtain. Payments companies such as PayTabs and Geidea have captured large amounts of financing. InsurTech companies are raising large rounds as well as they transform a traditional industry by applying digital models to partially or fully analog firms. Catalyzed by the pandemic-induced push towards digitization and technology adoption, InsurTech is a small but growing sector with a large market potential. Startups such as Rasan, an InsurTech startup led by Founder and CEO Moayad Alfallaj which raised a US$24 million Series A round led by Impact46, is one of the success cases of InsurTech. Source Endeavor #fintech #saudiarabia #payments

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#SaudiArabia's leading #retail #banks are facing a critical juncture, as revealed by a new report from PwC Middle East and DataEQ. While overall consumer sentiment towards these institutions has seen a slight improvement, significant operational challenges persist, hindering their reputation and customer #satisfaction. The report, based on an analysis of over 62,800 online conversations, highlights the urgent need for banks to address these issues to maintain a #competitive #edge in the evolving financial landscape. ▪️Despite the slight uptick in overall sentiment, the report reveals a wide disparity in performance across individual banks. Five banks, including بنك البلاد | Bank Albilad and alrajhi bank, secured positive net sentiment scores, while four others lagged with negative scores. This variance underscores the need for a focused approach to customer service and operational efficiency. The report emphasizes that while attractive product offerings are important, they are not enough; excellent #customer #service and #reliable #digital #platforms are essential for acquiring and retaining customers in today's competitive market. ▪️Digital channels, especially #mobile #banking #apps, are increasingly becoming the preferred mode of interaction for #Saudi #consumers. However, the #report identifies #technical #issues, downtime, and difficulties in completing transactions as major pain points. To capitalize on the growing preference for digital banking, Saudi banks must prioritize resolving these issues and ensuring a seamless and user-friendly experience. By actively listening to customer feedback and investing in robust customer service improvement programs, banks can strengthen their reputation and foster greater customer loyalty. ▪️The PwC Middle East and DataEQ report serves as a wake-up call for Saudi Arabia's retail banks. It underscores the importance of operational excellence and customer-centricity in building a resilient and successful banking sector. By addressing customer service gaps and enhancing the digital experience, banks can #solidify their #position in the #market and #navigate the challenges of the evolving #financial #landscape with greater #confidence.

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE’s Bayanat forming a JV with #Korea’s Autonomous a2z, stc enabling Snap Inc. users in #SaudiArabia to join @Snapchat+, Shell relaunching its Intilaaqah #startup program in #Egypt, #Pakistan’s State Bank of Pakistan (SBP) linking #Raast with Buna (The Arab Regional Payments Clearing and Settlement Organization), #Qatar’s #BNPL trials seeing overwhelming interest, #Jordan’s national #blockchain technology network, #Malaysia’s U Mobile planning a $500M IPO, the #Philippines banning offshore gaming, and the National Payments Corporation Of India (NPCI) launching #UPIOneWorld for international visitors. 🇦🇪 #UAE Careem Pay launches near-instant transfers to the Philippines 🇸🇦 #KSA aramco plans $2.2B gas deal with #Spanish-#Chinese JV 🇪🇬 #EGYPT Compass Capital subsidiary #Bonyan plans $120M IPO 🇵🇰 #PAKISTAN Pakistan Telecommunication Authority (PTA) issues draft #telecom tariff regulations 🌍 #GCC BlackRock sets up UAE research unit for regional push 🌍 #MENA Anghami dominates music streaming despite Spotify’s global lead 🇹🇷 #TURKEY likely to hold interest rate to wait for inflation to ▼ 🇹🇷 #TURKEY OTO raises $8M Series A led by Sanabil Investments for GCC expansion 🇹🇷 #TURKEY Jewelers invest in Egypt due to gold quota, 30% of sector at risk  🌏 #SoutheastAsia Grab makes restaurant booking foray with Chope acquisition 🇲🇾 #MALAYSIA, #Singapore expand #socialmedia oversight 🇮🇳 #INDIA PhonePe, Google Pay lose #UPI market share to new players

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🚀 Strategic Investment Opportunities in Saudi Arabia The Ministry of Investment of Saudi Arabia (MISA) continues to drive economic growth through innovative and strategic initiatives. Recent data from the Q1 2024 Economic and Investment Monitor highlights MISA's impressive progress: 📈 FDI Growth: Foreign Direct Investment inflows into Saudi Arabia increased by 32.2% YoY in Q4 2023, with the total FDI stock reaching SAR 808 billion, marking a 6.1% YoY growth for 2023. 🏆 Investment Licenses: MISA issued 3,157 investment licenses in Q1 2024, a 93% increase from the previous year. This includes a 477% rise in licenses for regional headquarters, showcasing the Kingdom's appeal as a business hub. 🌍 Global Engagement: MISA has been actively promoting Saudi Arabia on the global stage, organizing key events such as the Future Minerals Forum and participating in the Gujarat Global Summit. These efforts are crucial in positioning Saudi Arabia as a prime destination for global investment. 🎖️ Enhanced Investor Experience: MISA's commitment to improving the investment climate is evident from their customer service achievements, including processing 445 business visit visas and delivering over 58,000 e-platform services in Q1 2024. As Saudi Arabia continues to evolve as a strategic investment hub, there are significant opportunities for established companies looking to expand into the Middle East. If your business is generating revenue and is ready to explore growth opportunities in this dynamic market, please feel free to DM me. Disclaimer: This invitation is for companies with existing revenue streams, not startups. #Investment #SaudiArabia #FDI #MISA #ZabCapital

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“Companies in this sector raised SR2.5 billion ($666.02 million) across 10 funding rounds in 2023. This represents substantial growth in the sector, with the investment amount increasing more than sixfold, and the number of funding rounds more than doubling compared to 2022.” - Abdullah Binghannam, Deputy of Financing and Investment at the Capital Market Authority. #gcc #ksa #saudi #vc #investment #fintech #funding #businessmodels #growth #venture #capital #cma #sama #regulatory #compliance #profit

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Interesting developments with international banking businesses in the KSA

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