Saudi Arabia News

SAMA and Hong Kong's HKMA recently held a meeting to discuss ways of boosting financial services integration and cooperation

Saudi National Bank's chairman, Ammar Al Khudairy, has resigned from his post following the banking crisis that has hit Credit Suisse Group AG.

The Saudi Central Bank (SAMA) has announced its ongoing experiment with Central Bank Digital Currencies (CBDCs). SAMA is working with local banks and FinTechs to better realize the potential uses of domestic or national wholesale CBDCs.

Global oil giant Saudi Aramco has denied reports stating that the company intends to mine bitcoin in the foreseeable future.   Initial Claims of Bitcoin Mining Activity  Reports had surfaced in recent days that Aramco intended to launch bitcoin mining operations.…

The conclusion of Project Aber and subsequent review by the Central Banks of the Kingdom of Saudi Arabia (Saudi Arabian Monetary Authority) and the United Arab Emirates (CBUAE) shows that Distributed Ledger Technology (DLT) can improve remittance and satisfy privacy…

Saudi Arabia’s central bank – the Saudi Arabian Monetary Authority (SAMA) – announced that it recently deposited part of its liquidity injections to local banks via a blockchain-powered system.  Saudi Central Bank Uses DLT for Banking Operations In an announcement dated June…

During the first edition of the Financial Sector Conference, a part of the Financial Sector Development Program, held in Riyadh, Saudi Arabia, on 24th & 25th April, Saudi British Bank announced the launch of its Ripple-powered payment services for instant…

The UAE and Saudi Arabian governments have revealed Aber, their joint Cryptocurrency which will soon begin its trial run in a number of selected banks in both countries. The announcement was published by Saudi Arabian Monetary Authority, January 29, 2019. Introducing…

Saudi Arabia and the UAE have launched a cryptocurrency aimed at facilitating cross-border payments. The new digital asset was unveiled during the first meeting of the Saudi-Emirati Coordination Council held on January 19, 2019, in Abu Dhabi, according to a…

Saudi Arabia’s financial watchdog, the Standing Committee for awareness on dealing in unauthorized securities has stated categorically on August 12, 2018, that cryptocurrency trading is illegal in the kingdom of Saudi Arabia. Bitcoin is Illegal in the Kingdom As stated…