logo
#

Latest news with #D360Bank

D360 Bank signs strategic agreement with Thmanyah as banking partner for broadcasting Saudi Football League tournaments
D360 Bank signs strategic agreement with Thmanyah as banking partner for broadcasting Saudi Football League tournaments

Arab News

time8 hours ago

  • Business
  • Arab News

D360 Bank signs strategic agreement with Thmanyah as banking partner for broadcasting Saudi Football League tournaments

RIYADH: D360 Bank, the Saudi Shariah-compliant digital bank, has announced its exclusive partnership with Thmanyah, part of the Saudi Research & Media Group (SRMG), for the landmark broadcast rights of the Kingdom's most prestigious football tournaments. This partnership positions D360 Bank as the exclusive financial player reshaping the sports broadcasting scene, securing a distinctive presence in the largest and most prominent regional sporting event. It delivers impactful access to a massive and highly engaged audience year-round, while strengthening the bank's association with the finest Arabic content on the internet. The agreement covers the Saudi Pro League (Roshn League), Saudi Super Cup, and First Division League (Yelo League), along with a broad range of sports-related Thmanyah content. Through this collaboration, D360 Bank is championing the future of sports entertainment by offering fans unprecedented control and insight into every match. Viewers will be able to simultaneously stream up to three games, access in-depth analytics and real-time insights, instantly rewind key moments, and enjoy crisp, high-definition streaming at 50 frames per second. Tiered viewing packages will ensure that every viewer is catered to, delivering a personalized and immersive football experience. The partnership reflects D360 Bank's strategy of aligning with homegrown innovators who share its commitment to community, culture, and progress. By investing in sports, the bank aims to extend its role beyond financial services to become a driver of shared experiences that bring people together.

Saudi financial ecosystem hits $267bn milestone in 2024 in line with Vision 2030
Saudi financial ecosystem hits $267bn milestone in 2024 in line with Vision 2030

Arab News

time13-07-2025

  • Business
  • Arab News

Saudi financial ecosystem hits $267bn milestone in 2024 in line with Vision 2030

RIYADH: Saudi Arabia's financial sector recorded exceptional growth in 2024, with fintech firms reaching 261, venture capital investment in the sector exceeding SR7.6 billion ($2.03 billion), and gross written premiums in insurance climbing to SR76.1 billion. Locally managed assets in the capital market surged to SR1 trillion ($267 billion), while foreign ownership rose to over SR420 billion. These milestones, outlined in the Financial Sector Development Program's 2024 annual report, reflect the Kingdom's accelerating progress toward the economic diversification goals of Vision 2030. Saudi Finance Minister Mohammed Al-Jadaan, also chairman of the Financial Sector Development Program Committee, emphasized that the program continues to deliver on its promise of sustainable success. He said the FSDP is building an economic future that solidifies Saudi Arabia's regional and international standing while reflecting the rapid development across all sectors in this prosperous era. The FSDP has implemented a wide range of reforms and initiatives to build a robust, diversified, and inclusive financial system. The program has helped to strengthen the Kingdom's regional and global economic standing while enabling innovation, job creation, and investment growth. Fintech emerged as a key success story in 2024, with the number of operating companies surpassing initial targets and contributing to the creation of over 11,000 direct jobs. The Saudi Central Bank licensed D360 Bank to begin operations, and electronic payments accounted for 79 percent of total retail transactions — underscoring the shift toward a cashless economy. The year also saw the launch of FinTech2024, the Kingdom's first international fintech conference. Capital markets continued their upward trajectory. With 44 new listings, the number of publicly traded companies reached 353. Locally managed assets grew 169 percent compared to 2017, reaching SR1 trillion, while foreign investor holdings jumped by 501 percent over the same period to SR 420 billion. Notable developments included the introduction of the TASI 50 index, single-stock options, Real Estate Investment Certificates, and the listing of Saudi ETFs in Tokyo, Shanghai, and Shenzhen. The Capital Market Authority also launched the Kingdom's Green Finance Framework to encourage sustainable investment. In the debt capital market, the CMA unveiled a strategic roadmap and issued the first license for an alternative trading system. The Kingdom successfully conducted its first international dollar bond issuance under the Government's Global Bond Program, attracting approximately $30 billion in orders. Meanwhile, the government introduced 'Sah,' a savings product aimed at fostering a culture of personal saving. Credit rating agencies Moody's, Fitch, and S&P issued upward revisions to Saudi Arabia's sovereign credit ratings in response to the country's fiscal discipline and financial reforms. The insurance sector also posted strong performance. Gross written premiums rose 16.3 percent from 2023 to reach SR 76.1 billion, while net profits increased by 12.5 percent to SR 3.6 billion. The Insurance Authority mandated the Saudization of all insurance product sales roles and launched a Regulatory Sandbox to support startup innovation. The number of licensed InsurTech firms rose by 56 percent. New digital services included automated motor insurance, simplified claims processes, and TELEMATICS—a unified platform for tracking driver behavior. The finance minister noted that the progress reflected in the report underscores the Kingdom's broader development efforts under the leadership of King Salman and Crown Prince Mohammed bin Salman. Support for small and medium enterprises remained a cornerstone of financial sector development. Saudi startups attracted SR 2.8 billion ($750 million) in venture capital, maintaining the Kingdom's lead in the MENA region. The share of bank credit to SMEs increased from 8.4 percent in late 2023 to 9.4 percent by the end of 2024. The SME Bank disbursed over SR1.5 billion in financing to 1,029 enterprises, while the Kafalah program facilitated SR 107.2 billion in financing guarantees—advancing the Vision 2030 target for SMEs to contribute 35 percent of GDP. On the regulatory front, the FSDP advanced significant legislative reforms to enhance transparency, competitiveness, and investor protection. Updates included new principles for finance and real estate refinance companies, revisions to debt crowdfunding rules, and regulatory changes to real estate financing. The CMA also approved omnibus accounts and relaxed conditions for debt offerings, further liberalizing capital markets. Financial literacy and capability development remained a key focus. The Financial Academy trained more than 59,000 participants through its programs since inception. The third edition of the Gulf Smart Investor Award continued to raise awareness of personal finance, while the 'Malee' program began measuring and promoting financial literacy among children aged 8 to 12. Looking ahead, the Financial Sector Development Program aims to build on this momentum in 2025 by aligning with global standards, expanding financing options, increasing financial inclusion, and deepening capital market participation. As outlined in its annual report, the FSDP remains committed to fostering innovation, enhancing regulatory efficiency, and driving sustainable growth to realize the full ambitions of Saudi Vision 2030.

D360 Bank Welcomes One Million Customers in Four Months
D360 Bank Welcomes One Million Customers in Four Months

Web Release

time27-05-2025

  • Business
  • Web Release

D360 Bank Welcomes One Million Customers in Four Months

D360 Bank, the innovative Saudi Shariah-compliant digital bank, has announced that it has reached more than one million customers within the first four months of its official launch, setting a new global benchmark in digital banking adoption. This milestone underscores the growing demand for seamless and secure digital financial solutions in Saudi Arabia. Since beginning operations, D360 Bank customers have conducted over 51 million transactions across more than 100 countries, with a total transaction volume exceeding SAR 50 billion (USD 13.3 billion). This milestone was made possible through the support of the Public Investment Fund (PIF), Derayah Financial, and a number of prominent investors and financial experts. Further strengthening the bank's position as a leading digital banking institution in Saudi Arabia. Commenting on the achievement, Mr. Taha Abdullah Al-Kuwaiz, Chairman of D360 Bank, expressed his pride, stating: 'D360 Bank is proud to lead the charge in reimagining digital banking. This one million customer milestone reflects the trust placed in us by customers and partners. Our mission is to lead in financial innovation, promote inclusion, and help realize the goals of Vision 2030 by delivering modern, Shariah-compliant services at scale.' D360 Bank offers an intuitive digital banking experience, enabling customers to open an account in two minutes and access personalized financial services designed to meet their individual needs. With a fully integrated digital banking model powered by cutting-edge financial technologies, customers can manage their finances anytime, anywhere. Through the D360 Bank app, users can easily make fast, fee-free international payments, pay bills, and transfer money, while benefiting from the highest levels of transparency and security. The bank has also introduced a range of core services, including Banking-as-a-Service (BaaS) infrastructure, now live with three external clients, and the newly launched Sanabil Savings Account, the Shariah-compliant savings product in Saudi Arabia to calculate and deposit profits daily, offering expected annual returns of up to 2%. 'Our growth trajectory is clear. Saudi consumers are ready for a seamless, digital-first banking experience,' said Eze Szafir, CEO of D360 Bank. 'We've built the infrastructure to scale quickly, securely, and in full alignment with regulatory requirements. This is just the beginning.' Source: AETOSWire

D360 Bank Welcomes One Million Customers in Four Months
D360 Bank Welcomes One Million Customers in Four Months

Business Wire

time26-05-2025

  • Business
  • Business Wire

D360 Bank Welcomes One Million Customers in Four Months

RIYADH, Saudi Arabia--(BUSINESS WIRE)--D360 Bank, the innovative Saudi Shariah-compliant digital bank, has announced that it has reached more than one million customers within the first four months of its official launch, setting a new global benchmark in digital banking adoption. This milestone underscores the growing demand for seamless and secure digital financial solutions in Saudi Arabia. Since beginning operations, D360 Bank customers have conducted over 51 million transactions across more than 100 countries, with a total transaction volume exceeding SAR 50 billion (USD 13.3 billion). This milestone was made possible through the support of the Public Investment Fund (PIF), Derayah Financial, and a number of prominent investors and financial experts. Further strengthening the bank's position as a leading digital banking institution in Saudi Arabia. Commenting on the achievement, Mr. Taha Abdullah Al-Kuwaiz, Chairman of D360 Bank, expressed his pride, stating: 'D360 Bank is proud to lead the charge in reimagining digital banking. This one million customer milestone reflects the trust placed in us by customers and partners. Our mission is to lead in financial innovation, promote inclusion, and help realize the goals of Vision 2030 by delivering modern, Shariah-compliant services at scale.' D360 Bank offers an intuitive digital banking experience, enabling customers to open an account in two minutes and access personalized financial services designed to meet their individual needs. With a fully integrated digital banking model powered by cutting-edge financial technologies, customers can manage their finances anytime, anywhere. Through the D360 Bank app, users can easily make fast, fee-free international payments, pay bills, and transfer money, while benefiting from the highest levels of transparency and security. The bank has also introduced a range of core services, including Banking-as-a-Service (BaaS) infrastructure, now live with three external clients, and the newly launched Sanabil Savings Account, the Shariah-compliant savings product in Saudi Arabia to calculate and deposit profits daily, offering expected annual returns of up to 2%. 'Our growth trajectory is clear. Saudi consumers are ready for a seamless, digital-first banking experience,' said Eze Szafir, CEO of D360 Bank. 'We've built the infrastructure to scale quickly, securely, and in full alignment with regulatory requirements. This is just the beginning.'

D360 Bank Welcomes One Million Customers in Four Months
D360 Bank Welcomes One Million Customers in Four Months

Yahoo

time26-05-2025

  • Business
  • Yahoo

D360 Bank Welcomes One Million Customers in Four Months

Redefining Digital Banking in Saudi Arabia with Speed, Scale, and Innovation RIYADH, Saudi Arabia, May 26, 2025--(BUSINESS WIRE)--D360 Bank, the innovative Saudi Shariah-compliant digital bank, has announced that it has reached more than one million customers within the first four months of its official launch, setting a new global benchmark in digital banking adoption. This milestone underscores the growing demand for seamless and secure digital financial solutions in Saudi Arabia. Since beginning operations, D360 Bank customers have conducted over 51 million transactions across more than 100 countries, with a total transaction volume exceeding SAR 50 billion (USD 13.3 billion). This milestone was made possible through the support of the Public Investment Fund (PIF), Derayah Financial, and a number of prominent investors and financial experts. Further strengthening the bank's position as a leading digital banking institution in Saudi Arabia. Commenting on the achievement, Mr. Taha Abdullah Al-Kuwaiz, Chairman of D360 Bank, expressed his pride, stating: "D360 Bank is proud to lead the charge in reimagining digital banking. This one million customer milestone reflects the trust placed in us by customers and partners. Our mission is to lead in financial innovation, promote inclusion, and help realize the goals of Vision 2030 by delivering modern, Shariah-compliant services at scale." D360 Bank offers an intuitive digital banking experience, enabling customers to open an account in two minutes and access personalized financial services designed to meet their individual needs. With a fully integrated digital banking model powered by cutting-edge financial technologies, customers can manage their finances anytime, anywhere. Through the D360 Bank app, users can easily make fast, fee-free international payments, pay bills, and transfer money, while benefiting from the highest levels of transparency and security. The bank has also introduced a range of core services, including Banking-as-a-Service (BaaS) infrastructure, now live with three external clients, and the newly launched Sanabil Savings Account, the Shariah-compliant savings product in Saudi Arabia to calculate and deposit profits daily, offering expected annual returns of up to 2%. "Our growth trajectory is clear. Saudi consumers are ready for a seamless, digital-first banking experience," said Eze Szafir, CEO of D360 Bank. "We've built the infrastructure to scale quickly, securely, and in full alignment with regulatory requirements. This is just the beginning." Source: AETOSWire View source version on Contacts Dania KoujanHead of Media Department press@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store