Latest news with #BankAlJazira
Argaam
25-03-2025
- Business
- Argaam
CMA approves Bank AlJazira's 25% capital hike via bonus issue
The Capital Market Authority (CMA) approved today, March 25, Bank AlJazira 's request to increase its capital from SAR 10.25 billion to SAR 12.81 billion through 25% bonus share distribution at 1-for-4 shares. Eligible shareholders are those registered with the Securities Depository Center Co. (Edaa) by the close of the second trading day after the record date, which will be determined later by the bank's board. The capital top-up will be funded by transferring SAR 1.28 billion from the statutory reserve account and SAR 1.28 billion from the retained earnings account to Bank AlJazira's capital. The deciding extraordinary general meeting (EGM) must be held within six months of the CMA's approval date. The bank is required to comply with all regulatory requirements and applicable laws. According to data available with Argaam, Bank AlJazira's board of directors recommended in February a 25% capital top-up from SAR 10.25 billion to SAR 12.81 billion, through a 1:4 bonus issue, as shown below:
Asharq Al-Awsat
01-03-2025
- Business
- Asharq Al-Awsat
Saudi Banks Poised to Benefit as Local Aircraft Deals Surpass $100 Billion
Bandar Al-Mohanna, CEO and Managing Director of Flynas, stated that aircraft deals by Saudi national carriers have surpassed $100 billion at list prices. He highlighted this as a major opportunity for local banks to provide innovative financing solutions backed by strong asset guarantees, citing the partnership between Flynas and AviLease, a Public Investment Fund (PIF) subsidiary specializing in aircraft leasing, as a prime example. His remarks followed Flynas' announcement on Thursday of a Murabaha financing agreement with Bank AlJazira worth SAR495 million ($132 million) to fund the acquisition of three new Airbus A320neo aircraft. Al-Mohanna emphasized that Flynas is not just purchasing planes but is actively building an integrated aviation ecosystem. Strengthening partnerships with Saudi banks is a key part of this strategy, he said, stressing that the company seeks to develop financing programs that support long-term financial sustainability and drive continued growth in the aviation sector. He also reaffirmed Flynas' commitment to prioritizing partnerships with national institutions, further strengthening the local aviation industry and aligning with Saudi Arabia's broader financial and aviation sustainability goals. The Murabaha financing deal with Bank AlJazira is part of Flynas' wider efforts to support the Saudi financial sector by enhancing competitiveness and developing advanced financial products tailored to the aviation industry's evolving needs.
Zawya
24-02-2025
- Business
- Zawya
Telr and Bank AlJazira partner to advance digital payments in Saudi Arabia
Riyadh, Saudi Arabia — Telr has partnered with Bank AlJazira to enhance digital payment solutions for its merchants, supporting Saudi Arabia's push toward a cashless economy. This collaboration will streamline transactions, ensuring faster payments, advanced fraud protection, and a seamless checkout experience for businesses and their customers. By integrating Telr's cutting-edge technology with Bank AlJazira's robust banking infrastructure, businesses unlock a comprehensive suite of payment solutions, including payment links, recurring payments, e-invoicing, Buy Now, Pay Later (BNPL), and much more. This collaboration enhances payment flexibility, expands financial accessibility, and empowers e-commerce businesses to thrive in Saudi Arabia's fast-evolving digital economy. Khalil Alami, Founder and CEO of Telr, said, 'At Telr, we believe that digital payments should be simple, secure, and accessible for every business. Our partnership with Bank AlJazira is a major step toward revolutionizing the payment experience, ensuring businesses can thrive in an increasingly cashless world". Mr. Nawaf Al Jathlan, Head of The Digital Payments Department at Bank AlJazira, said, 'We are pleased to cooperate with Telr to provide advanced payment solutions to enhance the growth of the digital economy in the Kingdom and provide our customers with customized solutions to suit their business needs'. This strategic alliance helps in transforming the e-commerce payment experience in Saudi Arabia, ensuring merchants have the technology to drive growth and customer trust. About Telr: Established in 2014, Telr, the award-winning payment gateway solutions provider, offers a unique platform that enables payment handling in over 120 currencies and 30 languages in KSA, UAE, Bahrain, and Jordan with the highest level of security. Through a single integration, Telr grants access to every payment method it offers, including Visa, Mastercard, Mada, American Express, UnionPay, JCB, Apple Pay, PayPal, Samsung Pay, SADAD, STC Pay, urpay. With its one-stop mindset, Telr extended its service seven further, offering a complete solution for the e-commerce world, covering a wide range of financial and business services, including social commerce, QR Codes, digital invoicing, Telr Buy Now Pay Later (BNPL). Telr is the first PCI-DSS Level 1 & NESA-certified company in MENA. Learn more at connect with us About Bank AlJazira: Bank AlJazira (BAJ) is recognized as one of the leading Shari'ah compliant fast-growing financial institutions in Saudi Arabia, client-driven and service-oriented Saudi Financial Group which provides individuals, businesses and institutions with innovative Shari'ah compliant financial services.
