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  • Should Bankers Move to Saudi Arabia? Pay is Surging, But Hiring is a Challenge

    Recruiter Hays Plc estimates that most banking professionals in Saudi Arabia can earn roughly 20% more than their counterparts in Western financial centers. Those expat executives willing to relocate to the kingdom from neighboring Dubai can ask for 20% to 35% extra, according to headhunting firm Mark Williams. Senior hires are able to command even higher amount.

  • Should Bankers Move to Saudi Arabia? Pay is Surging, But Hiring is a Challenge

    But on the ground, hiring is proving to be a challenge. While MBS, as the de facto ruler is known, has eased many social regulations, alcohol is still banned and extramarital relations and homosexuality remain punishable as ‘moral crimes.’ The severe rules and the prospect of a monotonous lifestyle in Riyadh often make expats reluctant to move. Meanwhile, experienced local employees are in short supply. That’s fueling a fight for talent and boosting salaries, bankers and headhunters say.

  • Saudi National Bank Ups Profit Despite Credit Suisse

    Saudi National Bank (SNB) increased its first-quarter profit by 12 percent from the same period a year ago to the equivalent of $1.34 billion. Saudi Arabia's largest bank, owned by its ruling family, benefited from higher fees and gains on investments, according to «Reuters». The profit came despite a 70 percent drop in the value of its Credit Suisse holdings to about $350 million.

  • Middle East and Africa’s 30 largest banks by assets, 2023

    Al Rajhi Banking & Investment Corp. broke into the top five largest banks in the Middle East and Africa region after almost doubling assets over the past three years. The Saudi Arabian bank jumped five places to fourth in S&P Global Market Intelligence's annual ranking, the highest climb of any lender in the past year. Al Rajhi's assets totaled $202.86 billion at Dec. 31, 2022. The bank's assets increased 22% in 2022 as mortgage financing grew 29.8%, the lender said in its fourth-quarter 2022 earnings statement.

  • A Reassessment of American Policy Toward Taliban Afghanistan

    The U.S. and other countries have consistently underestimated the role of theocratic thinking in hardening the Taliban’s domestic policies and shaping their international behavior. The Taliban’s leaders are largely constrained by their interpretation of Islamic doctrine from yielding on issues that they believe involve ordained principles. While many among the Taliban’s leadership ranks have had exposure to outside influences and have become sophisticated in messaging their policies, the movement’s inner circle is more parochial and deeply hostile to Western thought. It is notably defiant in its views regarding women’s rights, judicial practices, media freedoms, and political inclusiveness.

  • Saudi Islamic Banks’ Growth, Capital Remain Strong

    Saudi Islamic banks’ standalone credit profiles will remain strong in 2023, supported by high oil prices and robust non-oil real GDP growth. Strong credit growth will put some pressure on capital, funding and liquidity, with increasing recourse to market funding. However, SAMA is likely to inject further liquidity if necessary. We do not expect M&A involving Islamic banks in the near future.

  • What key trends are driving banking in the Middle East?

    “The Middle East region has advanced exponentially in the financial technological ecosystem mirrored with our focus on investing in strategic partnerships, emerging technologies and our people to help solve our client’s biggest problems,” said Ghazali. “We firmly believe that the future of the industry is heading towards a brighter path, one filled with innovation and inclusion.”

  • Iranian-Saudi thaw may aid Lebanon, but will it gain Hezbollah?

    Iran and Saudi Arabia’s political détente matters not only for the two countries but also for their regional partners, including Lebanon. The rapprochement offers Beirut some hope of resolving its interweaving crises, which have partly been caused by tensions between the two regional powers. But any relief is unlikely to be imminent, and important questions—such as the position of Lebanon’s powerful Hezbollah movement—remain unclear.

  • Saudi airport bans certain luggage types

    An airport in Saudi Arabia has issued advice on banned luggage types for all passengers. Jeddah’s King Abdulaziz International Airport has informed passengers not to travel with certain baggage. The airport shared the advice on social media, informing passengers which luggage would not be allowed on planes.

  • Saudi Arabia Advances 17 Ranks in World Bank’s Logistics Performance Index

    Among 160 countries, the Kingdom has advanced to the rank 38th in the World Bank's Logistics Performance Index after achieving wide leaps in performance efficiency through several sub-indicators, most notably the indexes of Logistics Competence and Quality, Tracking and Tracing, Timeliness, Customs, Infrastructure, and International Shipments.