14 Hrs
Source:
الاقتصادية
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Saudi-Qatari Deal for Mada and Hemyan at Money20/20 ME
The activities on the second day of the Money20/20 Middle East Conference in Riyadh focused on announcing an agreement between the Saudi Central Bank and the Qatar Central Bank, allowing holders of the Mada and Hiam cards to use them easily and securely in both countries. This enhances financial cooperation between Saudi Arabia and Qatar. The day also saw significant announcements, including Barq company's completion of a funding round worth $329.5 million, valuing the company at $1.85 billion, and the launch of Network International's payment acceptance services in Saudi Arabia. Emphasizing the rapid growth of the fintech sector, which now includes more than 371 companies and is witnessing increased foreign investment and expansion of digital services. The discussions highlighted the importance of trust, regulatory frameworks, and technologies such as artificial intelligence in supporting the growth of the Saudi financial market.
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