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  1. Mubasher News
  2. Saudi social network Link secures $1.6mn

Saudi social network Link secures $1.6mn

NOHA.GAD
Aug 7, 2024
Saudi social network Link secured $1.6 million in an investment round from Core Vision and angel investor Bader Alarjan

Riyadh - Sharikat Mubasher: Link, the Saudi social network, secured $1.6 million in an investment round from Core Vision and angel investor Bader Alarjan, according to a recent statement.

Founded in 2020 by Abdullah Otthman, Link connects users in Saudi Arabia and Arab countries with each other, featuring different services such as texting, voice messages, and videos.

Harnessing advanced artificial intelligence (AI) technology, Link offers a superior user experience for both business owners and content creators, making it a one-of-a-kind and all-in-one social media platform.

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SAMA licenses Awn to offer consumer microfinance services
Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed Awn Alraidah Microfinance Company (Awn) to engage in consumer microfinance activity through financial technology.With Awn, the total number of licensed companies offering consumer microfinance solutions in Saudi Arabia reached nine, bringing the total number of finance companies licensed by SAMA to 68 companies, the apex bank announced yesterday.This addition reflects SAMA’s commitment to fostering the finance sector, enhancing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in the Kingdom.Awn utilizes state-of-the-art digital technology to provide consumer microfinance services while enhancing user experience. It aims to contribute to customers' financial well-being and inclusion by delivering Sharia-compliant, trusted solutions that give them access to affordable financing. It is committed to safeguarding customers and investors through clear governance, risk controls, and other protective measures that ensure the safety and confidentiality of data and information.

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