New Saudi savings scheme planned

Share

A new savings and investment scheme is set to be launched in Saudi Arabia by UAE-based National Bonds and Shuaa Capital.

An initial agreement was signed by the pair who are in talks with regulators with the aim of launching in the second half of the year.

“Saudi Arabia is a strategically important market for us, and with over 70 percent of the population under the age of 30, there is a strong opportunity to increase financial literacy among a new generation of
Saudis,” said National Bonds CEO Mohamed Qasim Al-Ali.

Last year National Bonds reported returns of between 1.6 percent and 3.6 percent for savers in the UAE according to its website, rising to 4 percent for customers with a three-year term.

Saudi Arabia is aiming to open up its financial services sector to increased foreign investment as part of a wider economic diversification push.


11/06/2018
Arab News
Industry
01
Al-Khobar third top destination for hotel developm...More Details
02
Aramco launches center for contractors and supplie...More Details
03
Private equity firms booming, yet no time to be co...More Details
Economic
Events
10
09/2019
Electra Mining Botswana Gaborone ...More Details
28
08/2019
ExpoFerretera Buenos Aires ...More Details
27
05/2019
Exponor Chile Antofagasta ...More Details
More Economic Events
Accounting
Tools

Business Starting Costs Calculator

How much does it cost to start a business? ....

Profit and Loss Calculator

This calculator will help you calculate the profit and loss of your business.

Personal Budget Calculator

Use this calculator to create your personalized

More Accounting Tools
19
07/2019
Economic
News
img

Saudi Arabia kick starts sale of state flour mills ....Read More

img

Saudi merchandise exports rise 17.5% in Q1- GASTAT ....Read More

img

Saudi universities to open doors to small businesses in R&D ....Read More

More Economic News