The Digital Transformation in the Arab World

Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced today the Bank’s financial results for the nine months ended 30 September 2026.

SAB recorded a net profit after Zakat and Income Tax of SAR 6,582 million for the period, representing an increase of 3% compared with the corresponding period in 2025. Total operating income increased by 1% year-on-year to SAR 11,116 million, while third-quarter revenue rose by 5% to SAR 3,841 million compared with the previous quarter, reflecting improved sequential momentum.

Against a backdrop of evolving market dynamics and regional developments, SAB continued to deliver against its strategic priorities, maintaining balanced growth across its businesses. This performance was supported by disciplined capital deployment, prudent risk management and a continued focus on solid returns. Net loans and advances increased by 11% year-on-year to SAR 325 billion, broadly in line with the Bank’s plans and guidance.

Lubna S. Olayan, Chair of the Board of Directors, commented: “Our performance over the first nine months of 2026 reflects the resilience of SAB’s diversified business model and the strength of our long-term strategy.

We have continued to grow our business, deepen customer relationships and deliver solid returns while navigating an evolving external environment. Our commitment to responsible growth and sound financial management remains central to creating lasting value for our shareholders and supporting the Kingdom’s economic ambitions.”

The Bank’s margin performance improved during the third quarter, supported by disciplined asset repricing and stable funding costs. Quarterly operating income and pre-provision profit also increased compared with the previous quarter, demonstrating positive sequential momentum and the Bank’s continued focus on operating performance. This led to SAB reporting a return on tangible equity of 14.2% for the first nine months of the year, almost double the levels of returns the bank generated at the start of its strategy in 2021.

SAB’s trade business remained firm, underpinned by its strong corporate banking business and longstanding position in trade and cross-border banking. These capabilities continue to reinforce the Bank’s role in facilitating business activity and supporting the Kingdom’s growing international economic connectivity.

Asset quality remained resilient, with credit costs increasing during the nine-month period, as a reflection of heightened pressures. SAB continued to apply its established prudent forward-looking approach to provisioning, considering the evolving regional environment, supported by disciplined risk management and a continued focus on balance sheet strength.

Olayan added: “Our priorities remain clear: to pursue growth responsibly, deploy capital selectively and maintain a strong and resilient balance sheet. The improvement in margins and quarterly operating performance is encouraging and demonstrates the effectiveness of our strategic execution. We remain well positioned to respond to changing market conditions and pursue opportunities that support sustainable growth.

During the third quarter, SAB continued to advance its customer proposition through strategic partnerships and targeted innovation. The Bank introduced the Kingdom’s first Qatar Airways Privilege Club co-branded credit card, launched a dedicated e-commerce credit card in partnership with noon, and enhanced international transfer capabilities through its collaboration with Swift. Together, these initiatives reflect SAB’s commitment to delivering differentiated banking experiences, strengthening its competitive position and responding to the evolving needs of its customers.

SAB also continued to support its customers and employees amid the evolving operating environment, maintaining service continuity, prioritizing the wellbeing of its people and ensuring reliable access to banking services.

Olayan concluded: “As we mark 100 years of banking heritage in the Kingdom, we remain firmly focused on the future and the role SAB will continue to play supporting Saudi Arabia’s economic development. On behalf of the Board, I extend my sincere appreciation to our customers for their continued trust and to our colleagues for their dedication and professionalism. We also thank the Saudi Central Bank, the Capital Market Authority and our strategic partner, HSBC, for their continued support.”

Doha Bank, rated A (Negative) / Baa1 (Stable) (Fitch / Moody’s), has raised $500 million through its latest debt raise, with the five-year Regulation S senior unsecured notes carrying a fixed rate coupon of 6.250%, payable semi-annual in arrears.

The notes carry a yield of 6.313%, at a re-offer price of 99.733 and a spread set at 140 basis points over US Treasuries. IPTs for the offering in the +170 bps area.

At launch, the orderbook was in excess of $1.5 billion, excluding JLM interest.

Doha Finance Limited is issuing the debt, with the Qatar-listed lender named as guarantor. The expected issue rating is A / Baa1 (Fitch / Moody’s).

Bank ABC, Barclays, BBVA, Deutsche Bank, Emirates NBD Capital, Goldman Sachs International, HSBC, Kamco Invest, KGI Asia, Mashreq, QNB Capital and Standard Chartered Bank are the mandated joint lead managers and bookrunners. Standard Chartered Bank is the billing and delivery bank.

The issuance will come under Doha Bank’s $4.25 billion Euro Medium Term Note Programme, with the notes maturing on October 28, 2031.

A listing will follow on the London Stock Exchange – International Securities Market.

This is Doha Bank’s first debt outing of the year, with the lender last accessing the market in December 2025 when it raised $150 million from a digital bond, with a two-year tenor, along a raise of QAR 500 million through a sustainable bond with a 4.50% coupon.

Kuwait has raised $3.25 billion in its latest debt issuance, a dual-tranche offering with three-year and 10-year tenors that saw a collective orderbook of $7.8 billion.

The three-year offering raised $2.25 billion, priced at par, with a semi-annual coupon of 5.619%. The yield was also set at 5.619%, with the spread tightened to 75 basis points over US Treasuries.

IPTs for this tranche were in the T+105bps area.

The 10-year tenor raised $1 billion, priced at par, with a coupon and yield of 6.198%. The spread was set at T+105bps from IPTs in the T+130bps area.

The final orderbook for the shorter tenor was in excess of $4.6 billion, excluding JLM interest, with the 10-year drawing an orderbook of $3.2 billion, excluding JLM.

The settlement date is October 26.

Kuwait has issued the senior unsecured notes through the Ministry of Finance, with an expected rating of AA- (S&P), AA- (Fitch) (all stable), in line with Kuwait’s own.

Citi, Goldman Sachs International, HSBC, JP Morgan, and SMBC are the joint global coordinators, while Barclays, Citi, Goldman Sachs International, HSBC, ICBC, JP Morgan, Morgan Stanley, and SMBC are the mandated joint lead managers and bookrunners.

HSBC is the billing and delivery bank on the three-year tenor, while JP Morgan has been mandated on the 10-year.

The notes will be listed on the London Stock Exchange’s Main Market.

In July, Kuwait raised $6 billion in debt through a three-tranche bond offering with investor demand driving the combined orderbook to more than $14.75 billion. While the $3 billion three-year issuance drew a marginally tightened spread of T+70bps compared to the October offering, the $1.5 billion 10-year raise drew a much tighter spread at T+85bps from IPTs in the T+110bps area.

Major Gulf stock markets were subdued in early trade on Monday as tensions in the Middle East kept investors on edge, with a tanker blast in the Strait of Hormuz and uncertainty over the waterway’s reopening adding to the caution.

An oil tanker caught fire and exploded after striking a naval mine in the southern part of the strait, Iran’s Islamic Revolutionary Guard Corps navy said on Sunday, according to Iranian media.

Separately, Foreign Minister Abbas Araqchi told Iranian media that Tehran’s offer to the United States to reopen the strait within seven days was still on the table.

Brent crude futures fell 2.08% to $107.57 a barrel by 0619 GMT after settling at their highest since May 19 on Friday, as investors took profits after US President Donald Trump waived sanctions and tariffs on Russia, a move that may lead to more Russian fuel exports.

Saudi Arabia’s benchmark index fell 0.3%, hit by a 1.7% drop in Saudi Arabian Mining Co and a 0.8% decline in the country’s biggest lender by assets, Saudi National Bank.

Among other losers, oil behemoth Saudi Aramco was down 0.3%.

Dubai’s main share index was flat, though Dubai Investments advanced 2.4%. The group plans to float a 20% stake in subsidiary DIP Holding, owner of the Dubai Investments Park real estate business, in the UAE’s first initial public offering this year and one of only a few in the Gulf amid the Iran war.

In Abu Dhabi, the index eased 0.2%, while the Qatari index lost 0.5% to trade at its lowest in more than six years.

Jordan will buy back all bonds submitted under its tender offer for part of its outstanding $1 billion 5.75% notes due in 2027, after investors tendered $396.2 million of the debt.

Citigroup Global Markets acted as dealer manager for the transaction, while Citibank N.A., London Branch served as information and tender agent.

The sovereign said holders submitted $396.235 million in principal amount of the bonds for repurchase.

Settlement is scheduled for October 16, 2026.

The Central Bank of Egypt (CBE) has revealed that its net international reserves increased by $5.896bn during the first nine months of 2026, reaching $57.348bn in September, compared with $51.452bn in December 2025.

According to renowned banking expert Mohamed Abdel Aal, Egypt’s foreign exchange reserves comprise a diversified basket of major international currencies, including the US dollar, euro, pound sterling, Japanese yen, and Chinese yuan. These currencies are allocated in line with the CBE’s strategy for managing liquidity and maintaining a balance between exchange rates and stability in global markets.

He noted that net reserves continued their upward trajectory for the 49th consecutive month, reaching $57.350bn in September 2026, compared with approximately $57.214bn in August, an increase of $136m and monthly growth of around 0.24%.

Although this monthly increase may appear modest in numerical terms, Abdel Aal said a closer examination reveals implications that extend beyond the size of reserves to their quality.

He stressed that the strength of the Egyptian economy’s external position no longer depends solely on the level of reserves, but is increasingly supported by an integrated set of positive indicators.

He explained that improvements in funding sources reflect a structural development in the Egyptian economy’s external position, which international institutions and credit rating agencies monitor as a more accurate measure of economic resilience and the ability to absorb shocks.

Mohamed Abdel Aal

In August 2026, the banking sector’s net foreign assets rose to $31.2bn, their highest level since January 2020, supported by an increase in commercial banks’ net foreign assets to $12.4bn, alongside a rise in the CBE’s net foreign assets to $18.8bn.

According to Abdel Aal, these divs carry significant implications, indicating that the improvement in international reserves is no longer confined to the CBE’s balance sheet, but is also supported by the banking system as a whole, with foreign assets exceeding external liabilities, making the improvement more sustainable.

He added that the recovery was not limited to banking assets, but extended to actual sources of foreign currency.

Remittances from Egyptians working abroad recorded notable growth of 28.1% during the first seven months of 2026, reaching $29.7bn, compared with $23.2bn during the same period last year.

At the same time, the tourism sector maintained its performance, generating revenues of $12bn during the first eight months of the year, an increase of approximately 1.7%.

In foreign trade, Egyptian exports continued to grow, reaching $31.9bn during the first seven months of 2026, exceeding the $29.9bn recorded during the corresponding period last year.

Suez Canal revenues also recorded a noticeable improvement in the second quarter of the year, reaching $1.26bn, compared with around $1.1bn in the first quarter, representing growth of 13%.

Abdel Aal said the continued accumulation of reserves over 49 consecutive months represents more than a financial div. It constitutes a cumulative line of defence that strengthens the economy’s ability to withstand financial and geopolitical shocks and fluctuations in energy markets, gives monetary policymakers greater flexibility, and reinforces the confidence of international institutions.

He noted that a particularly striking development was the growth in reserves despite a decline in the dollar value of their gold component, which stood at $17.46bn in September 2026, down by $1.6bn as global gold prices fell by more than $270 per ounce.

However, the increase in the liquid foreign-currency component fully offset this decline, highlighting the flexibility of the reserve composition as an additional strength in managing the reserve portfolio.

Addressing recurring questions about the adequacy of reserves, Abdel Aal said the modern professional approach goes beyond identifying a safe level of reserves to determining the optimal level, assessed according to import coverage, short-term external debt, and the nature of capital flows.

He noted that the real challenge is not to maximise reserves without limit, but to strike a careful balance between security, liquidity, and investment returns.

Looking ahead to the final quarter of 2026, Abdel Aal said that, with foreign currency inflows continuing and the foreign exchange market remaining stable, there appeared to be scope for reserves to maintain their upward trend, although the pace of growth would remain dependent on geopolitical developments and global energy prices.

Abdel Aal stressed that foreign exchange reserves are more than divs recorded on the Central Bank’s books. They serve as a safety valve that is reshaping market confidence in the Egyptian economy.

He said the continued upward trend was undoubtedly the result of carefully considered monetary and fiscal policies that strengthen the country’s economic security.

Happy is the family whose members—parents, grandparents and grown children—trust each other enough to cooperate on shared goals, especially financial ones. When that is truly the case, Uncle Sam’s tax rules can help as well.

This matters especially now that mortgage rates are above 7%, and many families are looking for ways to help younger members. If the elders have resources and are confident younger ones can cooperate, a family loan could make homeownership possible while providing the elders with a useful income stream.

The state-owned QatarEnergy has secured a $3 billion syndicated five-year loan financed by four major Chinese financial institutions, according to Loan Connector. The petroleum and natural gas producer is also in talks with several banks for an additional $5 billion or more to finance its LNG shipping operations.

Agricultural Bank of China, Bank of China, China Construction Bank and Industrial and Commercial Bank of China are the underwriters on the $3 billion facility, the report stated, with funds to be used as QatarEnergy’s working capital.

Meanwhile, the LNG financing has drawn interest from both international and regional banks, LPC added, with a maturity in 2044.

QatarEnergy’s financial push comes at a time when the firm has also bagged seven offshore exploration licenses in Brazil, as part of a consortium with Petrobras. QatarEnergy said the deal will expand its upstream position in the South American state and is expected to be signed in the first half of 2027.

The LNG giant earlier extended its force majeure on liquefied natural gas deliveries through early December 2026, driven by ongoing regional conflict and the closure of the Strait of Hormuz.

Saudi Aramco CEO Amin Nasser said on Monday that satellite imagery and detailed ship tracking data is increasingly being used to attack infrastructure and oil tankers.

“Satellite imaging and shipping logs are increasingly being weaponised against infrastructure and tankers. Tools of transparency should not become ammunition for aggression,” Nasser told the Energy Intelligence Forum

“Technology offers immense benefit, but also poses serious risks,” Nasser said

Oil markets follow headlines on the US-Israeli war on Iran, including those based on satellite imagery and ship tracking data

The UN shipping agency IMO estimates there have been around 91 incidents involving ships that have been hit and 24 seafarers killed in the Middle East Gulf since the start of the Iran war on February 28.

More and more vessels in the region are switching off their transponders, or AIS systems, to avoid detection or identification to mitigate the threat of missile and drone attacks

Previously, this practice of “going dark” was usually employed by vessels in the so-called shadow fleet used to transport sanctioned Russian, Iranian and Venezuelan crude outside of Western markets and services

The UAE has consolidated its position as a major international investor, building a broad and diversified portfolio spanning six continents and strategic sectors including energy, infrastructure, ports and logistics, technology, artificial intelligence, industry, real estate, financial services and healthcare.

According to the latest data from UN Trade and Development (UNCTAD), outward foreign direct investment (FDI) flows from the UAE reached US$63.353 billion in 2025, while the country’s outward FDI stock stood at US$402.729 billion at the end of the year, compared with US$55.560 billion in 2010.

Global FDI flows, meanwhile, reached US$1.6 trillion in 2025, according to UNCTAD’s World Investment Report 2026.

UAE investments span both advanced and emerging economies across six continents.

In North America, UAE investments cover technology, energy, industry and other sectors. The region accounts for 44% of Mubadala Investment Company’s portfolio, with more than 80 direct investments and US$170 billion in assets under management.

Across Europe and Asia, UAE investments extend to renewable energy, infrastructure, logistics, technology, industry, real estate, life sciences and healthcare. Europe accounts for 15% of Mubadala’s portfolio and Asia-Pacific for 13%, while Latin America and the Caribbean represent 1%.

The Abu Dhabi Investment Authority’s (ADIA) strategy similarly reflects broad geographic diversification. Its long-term strategic portfolio allocation ranges from 45% to 60% for North America, 15% to 30% for Europe, 10% to 20% for emerging markets and 5% to 10% for developed Asia.

In Africa, UAE investments span sectors including logistics, ports, energy and infrastructure, while investments in Australia and the Pacific include logistics and energy, further demonstrating the global reach of UAE capital.

Ports and logistics provide a prominent example of the international expansion of UAE companies. DP World operates in more than 80 countries through a network of more than 590 business units.

AD Ports Group has also significantly expanded its international footprint. By the end of 2025, the Group operated its own offices in more than 50 countries and had a commercial presence in 158 countries, either directly or through representatives, with 34 ports and terminals in the UAE and internationally.

Officials and experts told the Emirates News Agency (WAM) that the geographic spread of UAE investments, including across Southeast Asia and South and Central America, reflects the country’s growing international investment presence, alongside its continued ability to attract capital from around the world.

Fahad Al Gergawi, Undersecretary of the Ministry of Foreign Trade, said the UAE had built a broad and geographically diversified international investment presence, supported by a clear approach to strengthening cooperation with other countries and developing economic and trade partnerships that open new markets and opportunities for national investments.

He said the UAE’s approach is based on economic openness and creating an enabling environment that allows investors to capitalize on opportunities across different markets.

Al Gergawi noted that UAE investments now extend across South and Central America, Africa and other regions offering favorable investment environments. At the same time, the UAE continues to attract investment from around the world.

He highlighted the strength of UAE investment in Africa, noting that the country had become the largest investor in the continent over the past four years.

Al Gergawi said the UAE’s expanding overseas investment footprint is supported by its network of international economic relationships and Comprehensive Economic Partnership Agreements (CEPAs).

He added that CEPAs support two-way investment flows, both into the UAE and from the UAE into partner economies, as the country continues to conclude further agreements.

The UAE, he said, takes a responsible approach to international investment, seeking not only financial returns but also a positive impact on host economies and mutually beneficial outcomes.

Dawood Al Shezawi, Chairman of AIM Global Foundation, said UAE capital had become increasingly sophisticated, diversified and globally distributed, with sovereign wealth funds and family offices establishing long-term strategic positions in markets including Africa, Southeast Asia and Latin America.

He said UAE investors were increasingly acting as partnership builders rather than simply providers of capital, drawing on governance expertise, regulatory knowledge and institutional networks to support cross-border initiatives.

This role, he added, strengthens the UAE’s position as a global investment hub and its growing role in connecting international capital with high-potential markets and opportunities.

Dr. Khaled Hanafy, Secretary-General of the Union of Arab Chambers, said the UAE represents a leading investment model, supported by its ability to develop systems that attract investment from around the world while successfully directing its own capital into Arab and international markets.

He said the UAE had achieved diversification both within its domestic economy and through the geographic spread of its overseas investments, including in distant markets such as South America, making its investment experience a strong model in the sector.

RISE Summit 2026 takes place on 14 October 2026 at Dubai World Trade Centre (Hall 5), under the theme “Recharging Momentum in Global Economies”. It is the strategic platform for a top-down view of the global capital and investment landscape, translating shifts in markets, trade and technology into opportunities across infrastructure, cities and real estate, and the future experience economy, from hospitality and education to wellness, longevity and how the world lives. The inaugural one-day event will host 300+ international institutional investors, sovereign funds, government leaders and major developers.

Rather than a conventional real estate event, RISE Summit starts from the macro picture: where global capital is moving, why, and what it means on the ground. Its purpose is to bring decision-makers into one room to align on the forces shaping investment, and to turn those conversations into partnerships, mandates and deals. Every session sits within one of four pillars: Capital, Markets and the Global Order; Trade, Connectivity and Infrastructure; Cities and Real Estate; and Longevity, Living and Experience.

The day opens with an invitation-only breakfast briefing, followed by a Morning Plenary. A series of fireside chats and panels covers where global investment goes next, infrastructure as the true test of a city’s resilience, building intelligent cities at scale, and the new blueprint of luxury living that integrates world-class hospitality into ultra-prime real estate. The plenary also looks at Dubai’s longevity ambition, Abu Dhabi’s next economic horizon, how institutions are navigating a three-speed global economy, geopolitics and energy security, crypto wealth entering real assets, and how Dubai’s regulatory transparency and Strategy 2033 attract institutional capital.

After a networking luncheon, the Afternoon Forum, “Real Estate and the Next Investment Cycle”, goes deeper into where global real estate capital is being redeployed as higher rates, repriced assets and structural change reshape how the world invests in the built environment. Sessions include sovereign wealth fund strategies in premium Class A residential, India’s $1 trillion real estate vision, and the race for data centre, energy and AI capacity. The forum also covers funding the cities of 2040 through infrastructure-led transformation, Asia’s next growth frontier in logistics, data and life sciences, and investment strategies in commercial and industrial real estate. It closes with the next era of destination management across hospitality and entertainment, and a session on how tokenization is rewriting property ownership.

Throughout the day, dedicated networking breaks, a luncheon and a closing evening reception give delegates the opportunity to build relationships and progress discussions directly with the investors, developers and government decision-makers in the room.

Register now.

Mohamed Juma Al Musharrkh, CEO of the Sharjah FDI Office (Invest in Sharjah), said the 45% growth in foreign direct investment (FDI) projects in the emirate in 2025 reflects the competitiveness of the UAE economy.

Al Musharrkh made the remarks in an interview with the Emirates News Agency (WAM) on key shifts in the global economy and Sharjah’s economic readiness, as the emirate prepares to host the ninth Sharjah Investment Forum, organised in collaboration with the Ministry of Investment on 14th and 15th October at Al Jawaher Reception and Convention Centre.

Held under the theme “Building Adaptive Economies”, the forum will bring together more than 80 speakers, including ministers, investors, entrepreneurs, experts and decision-makers from around the world, to discuss the transformations reshaping the business and investment landscape and ways to build businesses and economies that are better able to adapt to change and achieve sustainable growth.

Al Musharrkh said global changes have made investors more selective about where they invest, with capital increasingly concentrated in fewer countries and sectors. Investors are looking for countries that offer a clear outlook, stability and flexible legislative and regulatory frameworks, he said, noting that these advantages place the UAE among the leading investment destinations.

The CEO of Invest in Sharjah said the UAE economy’s attractiveness rests on four main pillars. The first is economic diversification and the distribution of growth drivers, with non-oil activities accounting for 79.4% of the economy in the first quarter of 2026, led by financial services, construction, healthcare and telecommunications, providing investors with an economy capable of sustaining growth across different cycles.

He added that the second pillar is a legislative ecosystem that keeps pace with the market. The UAE ranks first globally in both Adaptability of Government Policy and Bureaucracy, and fourth in Legal and Regulatory Framework, he said, noting that these rankings reflect investors’ actual experience in setting up, operating and expanding their businesses.

Al Musharrkh identified people as the third pillar, explaining that talent is the foundation of a knowledge economy and that the UAE has made attracting and empowering talent an official policy.

He noted that the country ranks first globally in employment and international experience and second in the creation of firms. The UAE was also the first country in the world to appoint a Minister of State for Artificial Intelligence in 2017, while more than 70% of its working-age population now uses AI, underscoring the role of talent and technology in advancing the entrepreneurship and investment ecosystem.

He said the fourth pillar is early positioning in emerging sectors, with manufacturing and telecommunications leading greenfield investment into the UAE, placing the country in an advanced position as the investment landscape for the coming years takes shape.

Al Musharrkh stressed that, within the UAE model, Sharjah represents an economy with a clear identity built on production and knowledge, guided by the vision of H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, which places people at the heart of development and provides investors with a stable environment with clear priorities.

Saudi Arabia has projected a fiscal deficit equivalent to 191 billion riyals ($50.87 billion) or 3.6% of gross domestic product in 2027, the finance ministry said in a pre-budget statement on Wednesday.

Total expenditure was estimated at 1.39 trillion riyals ($370.21 billion) and revenue projected at 1.20 trillion riyals ($319.61 billion) in 2027, the finance ministry said.

* The ministry estimated the 2026 deficit at 245 billion riyals, exceeding the 165 billion riyals projected in the budget published last year.

* Saudi Arabia forecast real GDP growth of 12.8% in 2027, following an expected decline of 3.6% in 2026.

* The ministry said the expected decline in real GDP in 2026 was due to a projected 21.8% drop in oil activities amid geopolitical developments in the region.

* The Iran war has led to heavy disruptions to energy shipments from the Gulf and in recent weeks Saudi Arabia has faced increasing pressure from the Iran-backed Houthis, who have fired salvos of missiles and drones at the kingdom.

* The ministry said that the 2027 deficit “will be funded through borrowing in accordance with a medium-term debt strategy framework”, with the borrowing plan for the 2027 “disclosed in detail by the end of this year”.

* Saudi Arabia is undertaking a massive economic overhaul known as Vision 2030, aimed at reducing reliance on oil, which requires hundreds of billions of dollars in investment.

Citi today announced the expansion of Citi Token Services into UAE and Japan, advancing our strategy to build a more connected, always-on financial ecosystem for corporate and financial institutional clients. The expansion is the latest milestone in Citi Services’ broader digital assets strategy, which is focused on solving real-world client needs by building bank-grade capabilities that connect traditional financial infrastructure with emerging digital networks.

As global commerce and investment strategies increasingly moves toward a 24/7 real-time environment, Citi continues investing in digital asset solutions designed to reduce fragmentation and enable clients to move liquidity more efficiently across geographies, currencies and networks. Citi Token Services is a core part of this strategy, using tokenized deposits and blockchain technology to enable programmable, near-instantaneous movement of liquidity while leveraging the robust security, resilience and global reach of Citi.

The expansion into UAE and Japan further extends these capabilities across Citi’s global network, with Japan supporting USD transactions and UAE supporting both USD and Euro transactions. Citi Token Services continues to process billions of dollars in transactions.

Leveraging a private-permissioned blockchain, the solution enables clients to move funds near instantly across Citi’s global network, supporting more efficient liquidity and collateral management and cross-border payments. By expanding additional regions and currencies, Citi continues to provide clients with always-on liquidity and payment capabilities that help overcome banking cut-off times and time zone limitations. Citi Token Services is live in the United States, Ireland, Hong Kong, Singapore, the United Kingdom, UAE, and Japan.

“Expanding Citi Token Services into the UAE and Japan is an important milestone in scaling the network and bringing 24/7 liquidity solutions to more of the markets where our clients operate,” said Stephen Randall, Global Head of Liquidity Management Services. “These are significant financial centers with substantial cross-border flows and connecting them to Citi Token Services gives clients greater optionality to move and manage liquidity across regions and currencies in real-time.”

Together with Citi’s broader investments in 24/7 USD Clearing and connectivity with emerging multi-bank tokenized networks, the expansions advance the ambition of Citi to deliver increasingly interoperable, multi-currency solutions across liquidity management and payments.

The Middle East is one of the world’s fastest growing real-time payments economies, making the UAE a strategic market for the expansion of Citi Token Services. As a major financial hub and gateway for trade and investment across the Middle East, Africa and South Asia, UAE supports significant cross-border flows and a growing base of multinational treasury operations.

“Expanding Citi Token Services into the UAE with USD and Euro capabilities enables clients to manage cross-currency liquidity 24/7, which is key to connecting the local ambitions of our corporate and financial institutional clients with their global expansion,” said Rizwan Shaikh, Head Services for Middle East & Africa. “This positions Citi to deepen relationships and optimize liquidity in and out of the region.”

As the world’s fourth largest economy, and a significant global liquidity center, Japan is a strategically important market for Citi, with substantial cross-border flows driven by multinational corporations and financial institutions.

“The expansion of Citi Token Services into Japan connects clients in the market to Citi’s growing 24/7 payments, collateral and liquidity solutions, enabling USD transactions to move in and out of Japan in real time and helping corporate and financial institutional treasurers put capital to work more efficiently,” said Kanika Thakur, Head of Services for Japan, Asia North and Australia.

Saudi Arabia-based erad, an SME lender, has secured $22 million from various investors to scale its financing business.

The fintech startup raised the funds from Middle East Venture Partners (MEVP), the lead investor, and from SVC, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital and Araya Ventures.

Also backing the funding are existing investors that include Khwarizmi, Nuwa Capital, Aljazira Capital, Oraseya Capital and Joa Capital.

Erad helps small and medium-sized enterprises raise working capital. It leverages artificial intelligence to evaluate clients and approve funding within 48 hours.

The company has deployed more than SAR 500 million ($133 million) worth of financing to businesses.