黑料社区 launches 7th round of 鈥楽ah鈥 savings product with 5.31% return
黑料社区 launches 7th round of 鈥楽ah鈥 savings product with 5.31% return/node/2569652/business-economy
黑料社区 launches 7th round of 鈥楽ah鈥 savings product with 5.31% return
The Sah product is available to Saudi nationals aged 18 and above who open an account with SNB Capital, Aljazira Capital, or Alinma Investment. SAB Invest and Al Rajhi Bank are also eligible options. File
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Updated 01 September 2024
MOHAMMED AL-KINANI
黑料社区 launches 7th round of 鈥楽ah鈥 savings product with 5.31% return
Bonds will be distributed to investors on Sept. 10
Subscriptions for Sah start at a minimum amount of $266.66, which is the value of one bond
Updated 01 September 2024
MOHAMMED AL-KINANI
JEDDAH: 黑料社区 has launched the seventh round of its subscription-based savings product, Sah, for September, offering a 5.31 percent return to promote financial stability and growth among citizens.
The issuance of these Shariah-compliant, government-backed sukuk began on Sunday and will continue until 3 p.m. on Sept. 3. Bonds will be distributed to investors on Sept. 10, as announced by the National Debt Management Center on X (formerly Twitter).
Subscriptions for Sah start at a minimum amount of SR1,000 ($266.66), which is the value of one bond. The maximum subscription limit is set at SR200,000, allowing individuals to purchase up to 200 bonds during this period.
Issued by the Ministry of Finance and organized by the NDMC, these fee-free savings products offer low-risk returns and are distributed through the digital channels of approved financial institutions.
Sah is the first government sukuk designed to enhance saving habits by encouraging Saudis to set aside a portion of their income regularly.
This initiative aligns with the Financial Sector Development Program, a key component of Saudi Vision 2030, which aims to increase the national savings rate from the current 6 percent to the international standard of 10 percent by 2030.
The Sah product is available to Saudi nationals aged 18 and above who open an account with SNB Capital, Aljazira Capital, or Alinma Investment. SAB Invest and Al Rajhi Bank are also eligible options.
The Sah bonds are issued monthly, with a one-year savings period and a fixed return. Profits are paid out at the bonds鈥 maturity date.
NDMC CEO Hani Al-Medaini mentioned in February that the sukuk aims to foster private sector collaboration. Future initiatives will include developing and launching tailored savings products for various individual categories through banks, fund managers, financial technology companies, and other institutions.
鈥淚 believe that issuing Sah is a significant financial initiative by the Saudi government to encourage saving and enhance financial inclusion in the Kingdom. It ensures access to financial products and services that meet people鈥檚 needs, such as having a bank account or savings product like Sah,鈥 Al-Medaini said at the time.
The CEO also noted that the Sah initiative will not only encourage Saudis to save but will also positively impact the national economy, driving economic growth and raising national savings rates to international standards.
Last month, the NDMC completed its riyal-denominated sukuk issuance for August at SR6.018 billion, marking an 87.22 percent increase compared to July. This figure was the third highest this year, following SR8.82 billion issued in January and SR7.39 billion in April.
In July, 黑料社区 concluded the issuance of Islamic financial instruments at SR3.21 billion, with amounts reaching SR4.4 billion and SR3.23 billion in June and May, respectively.
Where the money is flowing: AI, agritech, and fintech set to lead
Updated 7 sec ago
Nour El-Shaeri
RIYADH: 黑料社区鈥檚 venture capital ecosystem is entering a pivotal phase of growth, fueled by a surge in domestic and international investment targeting sectors aligned with the Kingdom鈥檚 Vision 2030.
Agriculture tech, fintech, artificial intelligence, and clean energy are emerging as key pillars of this transformation, driven by regulatory reforms, demographic shifts, and a rising global investor appetite.
The country鈥檚 ambition to become a regional innovation hub is drawing sustained capital inflows, placing it at the center of the broader emerging venture market investment narrative.
Domestic ambition shapes sectoral disposition
Said Murad, senior partner at investment firm Global Ventures, cited 黑料社区鈥檚 high food import dependency and its ambitions to boost domestic production as key in drawing funds to the Kingdom.
鈥淎gritech and climate-related technologies will certainly contribute to the next phase of investment growth,鈥 he told Arab News in an interview.
Complementing this trend, Philip Bahoshy, CEO of MAGNiTT, pointed to fintech, AI, clean energy, logistics, and advanced manufacturing as areas expected to dominate future funding.
鈥淭hese sectors align with Vision 2030鈥檚 push for economic diversification and digital transformation,鈥 he told Arab News, with health tech and deep tech also gaining traction due to increasing research and development support and regulatory tailwinds.
Philip Bahoshy, CEO of MAGNiTT. Supplied
AI, in particular, is emerging as a dominant investment theme in the region. According to MAGNiTT鈥檚 2025 predictions, the sector is set to double its share of venture capital funding in emerging venture markets this year, following a surge of high-profile deals in 2024.
鈥淎I was the main driver of investment activity both in the private and public markets in the US and other mature markets in 2024,鈥 the platform noted, referencing data from PitchBook.
In the first nine months of 2024, AI accounted for 41.3 percent of US venture capital funding. In 黑料社区, this momentum is reflected in deals such as Intelmatix鈥檚 $20 million Series A round and Amazon Web Services鈥檚 planned data center investment, both signaling the Kingdom鈥檚 rising stake in the global AI landscape.
MAGNiTT also cited broader geopolitical and commercial developments in the AI space, including chip export agreements, as indicators of the sector鈥檚 rising importance in the region.
鈥淏ased on our proprietary data, we expect AI funding to double in 2025 due to increased investor attention to innovative AI startups,鈥 the company stated.
Beyond AI, Global Ventures鈥 investment in Iyris, an agritech company spun out of King Abdullah University of Science and Technology, illustrates the potential of local innovation to address long-standing structural challenges.
鈥淚yris is positively disrupting agricultural practices for mid-to-low-tech farmers, particularly in hot climates,鈥 Murad said.
The startup launched the National Food Production Initiative in 2023, partnering with SABIC and Red Sea Global to establish a sustainable farming project in Bada, 黑料社区, aimed at regenerating unproductive land and enhancing food security.
Fintech remains another strong area of interest, supported by a digitally connected population and a push toward financial inclusion.
鈥淲ith 98 percent internet penetration and 97 percent smartphone adoption among the 18-to-78-year age group, the Kingdom has one of the world鈥檚 most digitally enabled populations,鈥 Murad said.
He views this as a key enabler for innovation in financial services, both consumer-facing and enterprise-driven.
Focused sectors, broad appeal
Capital inflows into 黑料社区 are being driven not only by sector performance but also by global institutional interest in the region.
According to MAGNiTT, firms including BlackRock, Golden Gate Ventures, and Polen Capital have already established offices or acquired licenses in the Kingdom, the UAE, or Qatar.
Others, including General Catalyst and the BRICS Investment Fund, have made their investment debuts or launched dedicated MENA-focused funds.
鈥淚n 2025, we expect even more investors and asset managers to set up offices in the EVM regions, particularly 黑料社区 and the UAE,鈥 MAGNiTT stated, attributing this to the region鈥檚 鈥渇riendly business-enabling environment.鈥
Said Murad, senior partner at investment firm Global Ventures. Supplied
Deal flow in the Kingdom has grown across all funding stages. 鈥満诹仙缜 saw a surge in pre-seed and seed-stage funding,鈥 said Murad, noting that demand for later-stage capital is increasing as startups validate their models and seek international expansion.
Supporting this trajectory is a growing exit pipeline. In 2024, 黑料社区 completed 42 initial public offerings, ranking seventh globally in capital raised.
鈥淭his growing pipeline of exits signals the increasing maturity of the country鈥檚 capital markets and reinforces the long-term viability of its venture ecosystem,鈥 Murad added.
As international capital intensifies, local venture firms are adapting their strategies to remain competitive.
鈥淩egional players active in the market will understand local nuances, ultimately providing a competitive advantage,鈥 Murad said.
He emphasized that investors offering operational support and showcasing portfolio success stories will be best positioned to attract international limited partners.
The Kingdom鈥檚 regulatory environment is increasingly seen as a strength in the region鈥檚 venture capital narrative.
鈥淕overnment initiatives and the regulatory framework are geared to venture capital firms investing in startups in a secure, forward-thinking, and robust environment,鈥 Murad said.
Still, he cautioned that strong business fundamentals remain essential. 鈥淭he need for entrepreneurs to have strong, sustainable business models with good unit economics is as necessary as ever,鈥 said the Global Ventures partner.
Despite global uncertainties, Saudi entrepreneurs may be better equipped than most to navigate a challenging macroeconomic environment.
鈥淎t Global Ventures, we refer to the 鈥榓dversity advantage鈥欌 a natural upside for regional entrepreneurs who are used to working with, and around, resource scarcity,鈥 Murad said.
鈥淭his has empowered them, by design, to build businesses more resilient and adaptable to challenges,鈥 he added.
Oil Updates 鈥 prices fall as US delays decision on direct Iran involvement
Updated 37 min 28 sec ago
Reuters
SINGAPORE: Oil prices fell on Friday after the White House delayed a decision on US involvement in the Israel-Iran conflict, but remained on course for a third consecutive weekly rise.
Brent crude futures fell $2, or 2.5 percent, to $76.85 a barrel by 9:48 a.m. Saudi time but still looked set to gain more than 3 percent on the week.
US West Texas Intermediate crude for July 鈥 which did not settle on Thursday as it was a US holiday and expires on Friday 鈥 was down 14 cents, or 0.2 percent, to $75.
The more liquid August contract was up 0.3 percent, or 19 cents, to $73.69.
On Thursday prices jumped almost 3 percent after Israel bombed nuclear targets in Iran and Iran fired missiles and drones at Israel. The week-old war between Israel and Iran showed no signs of either side backing down. Iran is OPEC鈥檚 third-largest producer.
Brent futures trimmed previous session gains following the White House鈥檚 comments that President Donald Trump would decide whether the US will get involved in the Israel-Iran conflict in the next two weeks.
鈥淥il prices surged amid fears of increased US involvement in Israel鈥檚 conflict with Iran. However, the White House press secretary later suggested there was still time for de-escalation,鈥 said Phil Flynn, analyst at the Price Futures Group.
鈥淭he 鈥榯wo-week deadline鈥 is a tactic Trump has used in other key decisions. Often these deadlines expire without concrete action, ... which would see the crude oil price remain elevated and potentially build on recent gains,鈥 said Tony Sycamore, analyst at IG.
Emril Jamil, oil research analyst at LSEG, said the 鈥渦nwavering determination鈥 of the Organization of Petroleum Exporting Countries and its allies to increase output 鈥渕ay have added jitters to the market.鈥
OPEC+ has proven to be oil markets鈥 central bank, says Saudi energy minister
Updated 19 June 2025
Nadin Hassan
RIYADH: OPEC+ has proven to be the 鈥渃entral bank鈥 and regulator of the global oil market, providing much-needed stability, 黑料社区鈥檚 energy minister said.
Speaking at the annual St. Petersburg International Economic Forum in Russia, Prince Abdulaziz bin Salman praised the alliance鈥檚 role in balancing oil markets amid global economic uncertainties.
鈥淚 would have to say that OPEC+ had proven to be an instrument that if it wasn鈥檛 invented by us and Russia and our colleagues, it should have been invented a long time ago because this is what OPEC+ had achieved in terms of bringing stability to the market and had proven that it is the central bank and the regulator of oil markets,鈥 the energy minister said.
Prince Abdulaziz also highlighted the ongoing partnership between 黑料社区 and Russia through the Saudi-Russian Joint Committee, noting plans for Russian Deputy Prime Minister Alexander Novak to visit the Kingdom later this year with a high-level business delegation.
鈥淚鈥檓 looking forward to host Alexander 鈥 the co-chair of our joint committee 鈥 to 黑料社区 this year, with the biggest, most sizable business community participation,鈥 he said.
Prince Abdulaziz emphasized that the collaboration seeks to deepen bilateral economic ties and foster diversified investment opportunities.
鈥淲e have a lot to showcase that bonding together. It will allow us to have a much more diversified relationship, and we are, as a government, working together to provide the right environment for those who want to invest in 黑料社区 or in Russia or in any type or form of joint venturing that we should facilitate that and ensure that the investment environment is congenial for it to happen,鈥 he added.
The minister described the energy alliance as a flexible mechanism responsive to changing global conditions, reaffirming 黑料社区鈥檚 commitment to cooperation with partners to maintain market stability.
Acknowledging the challenges facing Russia, Prince Abdulaziz noted the Kingdom鈥檚 support amid external restrictions.
鈥淚t鈥檚 been a challenging time what Russia is going through, but we have shown a great deal of understanding of the situation, and we鈥檙e trying to maneuver with the restrictions that are existing today,鈥 he said.
鈥淭hat has been the discharge of our leadership willingness to accommodate with this current situation and hopefully helping to support Russia in mitigating these exterior most daunting issues.鈥
On whether 黑料社区 and Russia would compensate for any loss of Iranian crude supplies, the minister stressed that such scenarios are hypothetical and that OPEC+ decisions are collective.
鈥淵ou give me a question that is not evidently seen happening, I don鈥檛 have an answer for you. Again, we only react to realities. But if anybody gives a question that is not relating to the reality today, I fail to see where we could predict things and how we would relate to it,鈥 he said.
The minister clarified that OPEC+ consists of 22 member states and is not dominated by 黑料社区 and Russia alone. A core group of eight countries is tasked with engaging the full membership to ensure coordinated responses to market changes.
鈥淭o respond to a hypothetical question by giving a hypothetical answer, which none of us two here have the right to speak on behalf of everybody without knowing their opinion, is too much of an ask,鈥 he added.
He concluded by highlighting OPEC+鈥檚 reputation as a reliable and adaptive organization.
鈥淲hat we know and what Alexander was saying just a while ago is that we have, as OPEC even before, an OPEC+ attending to so many circumstances since its first, it was in sequence, even inception, that we have been a reliable organization, a serious organization, an effective organization, and attentive to circumstances when they prevail,鈥 he said.
Closing聽Bell: Saudi main index聽rises聽to close at 10,610聽
Updated 19 June 2025
Reem Walid
RIYADH: 黑料社区鈥檚 Tadawul All Share Index rose on Thursday, gaining 19.58 points, or 0.18 percent, to close at 10,610.71.
The total trading turnover of the benchmark index was SR6.4 billion ($1.7 billion), as 116 of the stocks advanced and 115 retreated.
The Kingdom鈥檚 parallel market Nomu lost 28.01 points, or 0.11 percent, to close at 26,175.83. This came as 35 of the listed stocks advanced while 41 retreated.
The MSCI Tadawul Index lost 0.54 points, or 0.04 percent, to close at 1,367.14.
The best-performing stock of the day was Alistithmar AREIC Diversified REIT Fund, whose share price surged 9.97 percent to SR7.50.
Seera Group Holding also recorded strong gains, with its share price rising 7.99 percent to SR23.80, while Banan Real Estate Co. climbed 7.14 percent to close at SR4.50.
Southern Province Cement Co. recorded the most significant drop, falling 5.19 percent to SR27.40. Ataa Educational Co. also saw its stock prices fall 3.43 percent to SR59.10.
Leejam Sports Co. also saw its stock prices decline 3.01 percent to SR116.
On the announcements front, Advance International Communications and Technology said it has completed the conversion of one of its branches into an independent limited liability company under the name Innovation Passage Technology Co.
According to a statement on Tadawul, the move is part of the company鈥檚 strategy to restructure its operations by separating the wholesale business sector. The new entity will take over all wholesale functions and operations. The company stated that the transformation is not expected to have a significant financial impact and that any further updates will be announced as they arise.
Alujain Corp. announced that its board of directors has approved the distribution of SR51.9 million in cash dividends for the second quarter of 2025.
A bourse filing revealed that the number of shares eligible for dividends is 69.2 million, with the dividend per share set at SR0.75. The dividend represents 7.5 percent of the share鈥檚 par value.
Alujain shares closed the session up 2.74 percent at SR35.
United Cooperative Assurance Co. announced the signing of a memorandum of understanding with Arabia Insurance Cooperative Co. to evaluate a potential merger.
According to a Tadawul filing, both parties will conduct technical, financial, tax, legal, and actuarial due diligence, and will enter into non-binding discussions regarding the terms and conditions of the proposed transaction.
United Cooperative Assurance shares closed at SR6.70, up 0.75 percent.
黑料社区鈥檚 PIF launches company to build and run Expo 2030
New firm to turn site into multicultural hub post-event
Updated 19 June 2025
MOHAMMED AL-KINANI
RIYADH: 黑料社区鈥檚 Public Investment Fund has launched Expo 2030 Riyadh Co., a wholly owned entity tasked with developing, managing, and operating the infrastructure and programming for the Kingdom鈥檚 first World Expo.
During its development phases, the project is projected to contribute $64 billion to 黑料社区鈥檚 gross domestic product and generate around 171,000 direct and indirect jobs. Once operational, it is expected to add $5.6 billion to the national economy.
According to an official release on Thursday, the newly established company will play a pivotal role not only in executing the large-scale event but also in preserving its long-term legacy.
Known as ERC, the company will fast-track operations to meet its ambitious mandate. It plans to collaborate with both local and international private sector partners to deliver on construction, cultural programming, and event management goals.
鈥淓RC benefits from PIF鈥檚 diverse local and global ecosystem and the establishment of the company aligns with PIF鈥檚 local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030,鈥 said Saad Al-proud, head of PIF鈥檚 Local Real Estate Investment Division.
Covering an expansive 6 million sq. m, the Expo 2030 site will be one of the largest World Expo venues ever built. Strategically located north of Riyadh near the upcoming King Salman International Airport, it will offer direct access to major city landmarks.
Set to run from Oct. 1, 2030 to March 31, 2031, Expo 2030 Riyadh is expected to draw over 40 million visits. Following the event, ERC aims to repurpose the gated expo area into a 鈥済lobal village鈥 鈥 a multicultural destination featuring retail, food and beverages, and premium residential offerings, all aligned with the Kingdom鈥檚 push toward sustainable tourism and innovation.
Participating nations will have the opportunity to construct permanent pavilions, enabling a lasting impact beyond the event itself and encouraging long-term investment and business ties.
PIF emphasized that the initiative reflects its broader strategy to drive economic diversification while securing sustainable financial returns.
The fund remains at the forefront of delivering 黑料社区鈥檚 transformative giga-projects and real estate ventures, reshaping the national landscape and bolstering the Kingdom鈥檚 global positioning.
Riyadh secured the rights to host Expo 2030 in November 2024, winning the international vote in the first round 鈥 further solidifying its reputation as a fast-evolving capital that blends connectivity, sustainability, and high quality of life at scale.
