Saudi Laws Update

Saudi Arabia’s New Law on Non-Saudis' Property Ownership: A Strategic Shift in Real Estate Policy Firoz Mohammed On July 25, 2025, Saudi Arabia officially enacted the Non-Saudis Ownership of Property Law, marking a significant policy shift aimed at attracting foreign investment and diversifying the economy under Vision 2030. Set to take effect 180 days post-publication, this legislation introduces structured guidelines for non-Saudis—individuals, companies, and non-profit entities—to own and invest in real estate within designated zones across the Kingdom. Key Provisions of the New Law 1. Ownership Rights and Geographic Restrictions Non-Saudis are permitted to acquire real estate or other real rights, such as usufruct and leaseholds, within specific areas defined by the Council of Ministers. These zones will be determined in coordination with the Real Estate General Authority (REGA) and the Council of Economic and Development Affairs. Notably, the cities of Makkah and Medina remain...

 July 13, 2025 PIF launches Tasama to boost Saudi business services sector Saudi Gazette report RIYADH — The Public Investment Fund (PIF) announced the launch of Tasama Business Services Company, a fully owned subsidiary designed to strengthen Saudi Arabia’s integrated business solutions ecosystem and support growth across both public and private sectors. Tasama is the result of a merger between BIAC, a former subsidiary of Saudi Technology Development and Investment Company (TAQNIA), and PIF’s Shared Services Center. The new entity aims to serve as a national provider of comprehensive business services, streamlining operations and enabling efficiency. The company will offer a full suite of services, including accounting support, HR and procurement services, digital solutions, incubator operations, and workspace solutions. These services are tailored to empower startups and support global companies operating in Saudi Arabia. Tasama CEO Eng. Mohammed Al-Jasser said the company is co...

 June 25, 2021 Online Brotherhood and digital platforms Abdullah Bin Bjad Al-Otaibi Political Islam groups have made a long and arduous journey ever since the inception of the Muslim Brotherhood in Egypt in the late 20th century, reaching up to the present world, while making the most of social media and other new media platforms brought about by the modern technologies. The journey will give the impression to any observer and a diligent researcher about the ability of these groups to reshape and adapt as well as to rely on contradictions. The story is old where these groups used to reject any new ideas and inventions in their religious language of forbiddance and rejection. Then, after a period of time, they gradually waived the prohibition and scrambled for new ideas, realizing that the benefits of the permissibility outweigh gains from the prohibition in their pursuit of power. There are too many examples to count for this in almost all Arab countries. Their position pertaining ...

 February 07, 2024 Why is FinTech flourishing in Saudi Arabia? Majed Al Rasheed Saudi Arabia, under its Vision 2030 and Financial Sector Development Program (FSDP) — with the FinTech strategy approved in May 2022 as its fourth pillar, aims to become a cashless society with a target of 70% by 2030. It also aims to make the Kingdom a global FinTech hub that attracts entrepreneurs from around the world as well as within the country. FinTech Saudi was established in 2018 as an ecosystem builder and catalyst under the supervision of the country's financial regulators, SAMA (Saudi Arabian Monetary Authority) and CMA (Capital Market Authority), to lay the foundation and further accelerate the sector's success journey. This initiative has led to an increase in the number of FinTech startups to 207 in 2023, up from only 10 in 2018—an increase of 20.7 times in five years. With the collaboration of government ministries and agencies such as the Ministry of Finance, Ministry of Communicati...

 August 26, 2024 KSA banks' investment in FinTech: A path to the future Majed Al Rasheed Any move by banks toward entering the FinTech space in KSA is considered positive, though each bank has its own strategy. This article focuses solely on banks' direct investments in FinTech startups, excluding any FinTech venture-building activities. It aims to shed light on the significant impact these investments have on the industry, solidifying FinTech's position and contributing to the sector's growth in alignment with the Financial Sector Development Program (FSDP). The FSDP's mandate is to establish 525 FinTech startups by 2030 as part of the FinTech strategy, the fourth pillar of the FSDP. These investments are not only helping to achieve this goal but are also fostering financial inclusion, improving financial literacy, and creating more jobs in this rapidly evolving industry. Recently, there were two notable announcements of banks investing in FinTech startups in the R...

 How groundbreaking innovations and early detection are redefining diabetes care in KSA The body’s immune system provides protection against harmful viruses, bacteria, and other foreign bodies. However, in some individuals, this protective mechanism can turn on the body itself. Such is the case with type 1 diabetes, a chronic autoimmune condition where the immune system mistakenly targets the very cells responsible for regulating blood sugar levels. According to Dr Mohammed Al-Sofiani, Associate Professor of Endocrinology, Diabetes, & Metabolism at King Saud University, many patients with type 1 diabetes usually present to the emergency room with symptoms like severe fatigue, weight loss, excessive urination, and excessive thirst. He explains that in people with type 1 diabetes, the immune system produces antibodies that attack the beta cells in the pancreas, which are responsible for producing insulin - the hormone that controls blood glucose. However, even after the antibodie...

 Saudi Awwal Bank named best bank in Saudi Arabia for 2025 by Euromoney for financial performance and innovation July 09, 2025 Saudi Awwal Bank named best bank in Saudi Arabia for 2025 by Euromoney for financial performance and innovation Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, has been named “Best Bank in Saudi Arabia for 2025” by Euromoney, recognizing the bank’s strong financial performance, continued digital advancement, and commitment to social responsibility over the past year. In 2024, SAB reported a net profit of SR8.07 billion, a 15% increase over the previous year. Operating income reached SR14 'million, supported by a 16% return on tangible equity, reflecting consistent performance and effective capital deployment. Lending remained a key area of growth, with net loans and advances rising by 20% to reach SR259 billion, in line with SAB’s strategy to support the financing needs of individuals and businesses across the Kingdom. SAB c...