Islamic Retail

Tech investment builds momentum in Saudi Arabia’s banking sector

Saudi’s Islamic banks are relying on digital transformation and technology investment to gain competitive advantage in an increasingly sophisticated market. The biggest financial technology spender in the Middle East, Saudi Arabia is fast...


Islamic Retail

Saudi profitability hit by rising provisioning costs

Last year was a struggle for Saudi banks, with net profits tumbling by 5.4% over 2016 according to the latest figures from Moody’s Investors Service, based on preliminary financial results. Banks’ net financing from June to December declined 3%...


Islamic Retail

Retail Banking: Profitability concerns as liquidity squeeze continues

Despite profitability concerns over the past year as declining oil prices, liquidity issues and declining deposit bases squeeze retail banks in Saudi; the past few months have seen a positive trend – with ratings agency data indicating a positive...