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Microsoft's VP Zainab Al-Amin highlights their focused investments in Saudi Arabia, including data centers and over 80,000 jobs, 21,000 in IT. They'll partner with the Ministry to enhance human capital, specifically in universities, public education, and AI courses. Al-Amin also mentioned Microsoft's trainings and partnerships with Education and Misk Foundation, training over 60,000 teachers in generative AI and focusing on skills development. Microsoft https://lnkd.in/eNXhVwd5

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The Saudi Central Bank (SAMA) announced an agreement with Samsung to launch Samsung Pay in the Kingdom by Q4 2024, enhancing digital payments in line with Saudi Vision 2030. Samsung Pay uses NFC and MST technologies for secure transactions, available through the Samsung Wallet app. This move aims to increase financial inclusion and expand use of digital payment solutions, with SAMA's Mada system supporting digital transactions. Sally Arabia is one of Samsung's largest markets in the Middle East, with a large number of users interested in financial technology and electronic payments. Saudi Central Bank – SAMA Samsung Networks Samsung Electronics Samsung Display Samsung SSD

The Saudi Industrial Export Company's "Sadarat" Extraordinary General Assembly approved splitting its share value from 10 riyals to 1 riyal. The move increases the number of shares from 19.4 million to 194.4 million, without changing the capital. The assembly also transferred 642,000 riyals from the statutory reserve to extinguish a portion of the company's accumulated losses, and cancelled the dividend distribution policy amendment. https://lnkd.in/eYka6k4u

Hamad Al-Bakr, CEO of Jahez, unveiled 30 electric delivery vehicles in Saudi Arabia. The cars were manufactured in Tunisia, but plans are to move production to Saudi Arabia soon, reducing costs. An increase in manufacturing will also decrease costs. Hamad Albakr Jahez International Company https://lnkd.in/eN6KsbiT

Ziina, a UAE-based fintech, raised $22M in a Series A funding round led by Altos Ventures, with participation from other investors. Founded in 2020, Ziina targets individuals and small businesses with integrated solutions including an e-commerce payment gateway and point-of-sale systems. It's developing ZiiCard for expense management and supplier payments, and plans to expand into Saudi Arabia and Jordan, promoting economic empowerment and reducing cash dependency. Ziina زينة Founders: Faisal Toukan & Sarah Toukan Investors: Avenir & Y Combinator & Jabbar Internet Group & FJ Labs & FinTech Collective & Altos Ventures https://lnkd.in/efAqHsWK

Tabby, a $1.5 billion+ payment services company, acquired Tweeq, a Saudi Arabia-based digital wallet app licensed by SAMA. Tweeq, founded in 2020, allows users to send and manage money via a spending account. The acquisition expands Tabby's services to include digital wallets, spending accounts, and payment cards. تابي Tweeq https://lnkd.in/eCPXmYZF

Syarah, a used car platform, secured SAR 225 million in Series C investment, led by Artal Financial Company, with participation from several investors. The investment will enable Syarah to expand and solidify its position in the Saudi market, having evolved from a digital advertising platform to a fully integrated e-commerce system since its founding in 2015. #syarah #salah_sharef https://lnkd.in/exk43Qsj

The Saudi Arabian Central Bank published the second edition of its Open Banking Framework, enabling banks and fintech companies to offer open banking services. The framework includes technical standards and clarifies responsibilities for payment creation services, allowing clients to manage bank accounts directly. This is part of the National FinTech Strategy, aiming to make Saudi Arabia a global fintech center and strengthen economic empowerment. #The_Saudi_Arabian_Central_Bank #SAMA https://lnkd.in/ePmKqbKT