Month: June 2020

Ministry of Justice suspends more than 37,000 applications due to suspected violations of financing activity

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Raising real estate financing

Reading time: < 1 MinuteThe Ministry of Justice has suspended proceedings on more than 37,000 enforcement requests (as a first phase) due to suspected violations of financing regulations, and the applicants’ information has been added to the Ministry’s lists until the competent authorities verify their legal status, in accordance with the Royal Decree issued by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, may God protect him, which mandates the establishment of controls to ensure the restriction of the practice of … Read more

Banks and financial institutions to gradually return to normal operations in accordance with health regulations and instructions

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SAMA Saudi Central Bank - Bank Profits

Reading time: 2 MinutesThe Saudi Arabian Monetary Authority (SAMA) has directed all banks and financial institutions under its supervision to resume operations gradually, at their own discretion, so that all operations in general departments return to normal. The Authority emphasized the need to equip workplaces in accordance with the regulations and instructions issued regarding preventive and precautionary measures in light of the coronavirus pandemic … Read more

Al-Ahli Bank Plans to Recover 1 Billion Saudi Riyals from Tier 1 Sukuk

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National Bank - Sukuk - Bank

Reading time: < 1 MinuteAl-Ahli Commercial Bank intends to redeem Category 1 sukuk worth 1 billion Saudi riyals at their face value on June 22, 2020. The sukuk were previously issued on June 22, 2015, through a private placement totaling 1 billion Saudi riyals and classified as Tier 1 supplementary sukuk in accordance with the Basel III framework. The bank has decided to redeem … Read more

148 countries to participate virtually today at Arabian Travel Market in Dubai

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Arabian Travel Market - Dubai

Reading time: 2 MinutesWith 12,000 participants and 148 countries taking part, the Arabian Travel Market kicks off today in Dubai via virtual platforms, bringing together leading experts and specialists in the travel and tourism sector. The event, which is being held for the first time, will run through June 3, 2020, with gold sponsorship from the Saudi Ministry of Tourism. This year’s edition focuses on emerging trends and opportunities, … Read more

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