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BANKING

Saudi Arabia Bankrolled Iran’s MEK with Tons of Gold, Rolexes – Report
September 19, 2018

A former high-ranking MEK official confirmed long-held suspicions that Saudi Arabia has been financing the political-militant group bent on violent regime change in Iran through sophisticated channels to provide the group with valuables like gold and Rolex watches, according to a new report.

In an interview with Jordanian news outlet Al-Bawaba Tuesday, a former MEK member who oversaw the"...

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Saudi Arabia’s NCB Joins RippleNet, Saudi British Bank Enters R3’s Consortium
September 15, 2018

Ripple, the company behind the cryptocurrency with the same name, announced on Thursday that the National Commercial Bank (NCB), also known as AlAhli Bank, joined RippleNet after the blockchain firm conducted a pilot with the Saudi Arabian Monetary Authority. The NCB is the first bank founded in the Kingdom of Saudi Arabia, and the second largest bank in the Arab"...

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Saudi British Bank Joins Consortium R3's Global Blockchain Ecosystem
September 12, 2018

The Saudi British Bank (SABB) has become the first Saudi bank to join enterprise software firm and global banking consortium R3’s blockchain ecosystem, local news outlet Trade Arabia reports today, September 11. SABB enjoys a strong reputation, having reportedly been named by Global Finance magazine as the “Best Trade Finance Bank” in Saudi Arabia for the 10th consecutive year, “Best Supply Chain Finance Bank” in the Middle East for 2018, as well as Saudi’s “2018 Best Trade Finance Bank” for the 2nd year running. The bank joins R3’s efforts to enlist a broad spectrum of partners and members from different industries in both the private and public sectors to help develop its Corda open-source blockchain platform, alongside its commercial iteration,......

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Merger Agreement between Barwa Bank and International Bank of Qatar (ibq)
August 29, 2018

Barwa Bank and International Bank of Qatar (ibq) have announced that they have signed a final agreement regarding the merger of the two banks to create a leading Sharia compliant financial institution with a solid financial position and robust liquidity to support Qatar’s economic growth and finance development initiatives in line with Qatar National Vision 2030.

According"...

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