fbpx
Read Watch
Money

Saudi Central Bank licenses debt-based crowdfunding company Themar

by WAYA staff - Aug 2, 2023
Saudi Central Bank licenses debt-based crowdfunding company Themar

The Saudi Central Bank (SAMA) licensed new crowdfunding company Themar, a platform connecting SMEs to investors online.

With Themar, seven authorized companies are now offering debt-based crowdfunding solutions in Saudi Arabia.

Through its online funding platform, Themar supports businesses with their local purchases.

Saudi central bank SAMA’s goal is to support the finance sector, boost the efficiency of financial transactions, and market innovative financial solutions for financial inclusion in Saudi Arabia.

The Central Bank is ensuring the importance of dealing financially with the authorized institutions only, and that can be done by checking SAMA official website.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Recommended stories

UAE’s healthtech UDENZ secures US$5m Series A funding round

by WAYA Staff - Aug 2, 2023
UAE’s healthtech UDENZ secures US$5m Series A funding round 

Dubai-based digital dental health platform UDENZ announced it secured US$5 million series A funding backed by Performance Guarantee and led by a consortium of leading UAE-based venture capital firms: Hakim Capital Holding, Techcelerate Investments LLC, Inspira Management, and Dubai Business Corporation. The startup, which specialized in...

Read More

Egypt signs 3 oil, gas exploration agreements worth US$320m

by WAYA Staff - Aug 1, 2023
Egypt signs 3 oil, gas exploration agreements worth US$320m

Egypt recently announced the signing agreements of three contracts for exploring and producing natural gas and crude oil in the Mediterranean. Two contracts were signed with EGAS and ExxonMobil Egypt in the Masry and Cairo offshore blocks on the Mediterranean. The third agreement was signed with EGPC and PICO...

Read More

TMG subsidiary issues securitization bonds worth US$12.9m

by WAYA Staff - Aug 1, 2023
TMG subsidiary issues securitization bonds worth US$12.9m

Talaat Moustafa Group (TMG) subsidiary, the Arabian Group for Urban Development and Projects Management, announced it issued US$1.9 million worth of securitization bonds on the membership fees of its clubs in Madinaty and Al-Rehab, according to local media reports. The TMG holding...

Read More

Saudi Aramco completes US$3.4b purchase of Rongsheng stake

by WAYA Staff - Aug 1, 2023
Saudi Aramco completes US$3.4b purchase of Rongsheng stake

The world’s integrated energy and chemicals company Aramco announced the successful closing of a key transaction to acquire a 10% interest in  Petrochemical company Rongsheng through its subsidiary Aramco Overseas Company BV, based in the Netherlands. The step was taken after a primary signing of a strategic agreement between Aramco and Rongsheng last March. The...

Read More

Cryptocurrency exchange Binance wins license to operate in Dubai

by WAYA Staff - Aug 1, 2023
Cryptocurrency exchange Binance wins license to operate in Dubai

World’s cryptocurrency exchange Binance won an operational license in Dubai after it received a preparatory license in September 2022. Binance met pre-conditions set since receiving a preparatory license in September 2022, the company announced. According to Dubai’s regulations, Binance has passed the third step out...

Read More

FRA, National Training Academy collabrate to boost women inclusion in non-banking finance

by WAYA Staff - Jul 31, 2023
FRA, National Training Academy collabrate to boost women inclusion in non-banking finance

Egypt’s Financial Regulatory Authority (FRA)and the National Training Academy announced their bilateral cooperation to provide a training program that helps boost women’s capabilities and skills in managing non-banking financial services. Mohamed Farid, the Chairman of the Financial Regulatory Authority said in an official statement that providing training on empowering...

Read More

Saudi PIF launches new tourism investment company Asfar

by WAYA Staff - Jul 31, 2023
Saudi PIF launches new tourism investment company Asfar

Saudi Arabia’s sovereign wealth fund PIF (The Public Investment Fund) announced the establishment of a new Saudi Tourism investment company (Asfar) to boost the country’s tourism sector. The main goal of the investment firm is to inject money into new tourism projects and develop attractive destinations with...

Read More

Saudi Arabia-based insurtech DESAISIV secures US$2m pre-Seed round

by WAYA Staff - Jul 27, 2023
Saudi Arabia-based insurtech DESAISIV secures US$2m pre-Seed round

The Saudi-Arabia-based insurance tech startup DESAISIV announced it secured a US$2 million pre-Seed round from 500 Global, Terra VC Oqal, and other investors across the MENA region, the UK, and the US. The company also secured a US$100,000 grant from Saudi accelerator Taqadam earlier...

Read More