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Saudi Central Bank Launches Gov’t Banking Services Platform ‘Naqd’

Saudi Central Bank (Asharq Al-Awsat)
Saudi Central Bank (Asharq Al-Awsat)
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Saudi Central Bank Launches Gov’t Banking Services Platform ‘Naqd’

Saudi Central Bank (Asharq Al-Awsat)
Saudi Central Bank (Asharq Al-Awsat)

The Saudi Central Bank (SAMA) introduced “Naqd,” a government banking services platform that enables government agencies to conveniently access their accounts at the central bank and carry out financial transactions securely on a digital platform.
This initiative is part of the central bank's strategy of providing banking services to government agencies and supporting digital development. It aims to digitize the financial operations services of government agencies on their accounts at SAMA through a unified and secure digital platform.
It also facilitates access to account information at all times, enables the management of these accounts, and provides instant monitoring of transactions to and from government agencies’ accounts.
The platform aims to offer electronic banking services that support government financial transactions, improve the user experience, enhance efficiency and productivity in financial transactions using the latest technologies, and reduce the time required to complete government banking procedures.

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Ballard Partners Seeks to Open Legal Office in Saudi Arabia

Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
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Ballard Partners Seeks to Open Legal Office in Saudi Arabia

Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)

Ballard Partners, one of the major law firms in the United States, announced its intention to open its first law office in Riyadh. The US company’s move comes after the Saudi Council of Ministers agreed to allow foreigners to practice the legal profession in the Kingdom.

Brian Ballard, founder and president of Ballard Partners, said in an interview with Asharq Al-Awsat, shortly before his departure from Riyadh, that he received a great welcome from the government, adding that he was excited about the possibility of opening an office in the country.

He revealed that his company has found in Abdullah Al-Meleihi, Chairman of Saudi Excellence Company, a reliable partner through which it will enter the Saudi business environment.

Ballard expressed his astonishment at the outcome of the programs launched by Saudi Crown Prince Mohammed bin Salman, through Vision 2030, which he said revitalized the business environment and attracted international investors.

Asked about the meetings he held in Riyadh, the president of Ballard Partners said that the purpose of his visit was to explore work opportunities in the country, adding that he discussed with Saudi officials means to best serve the customers by opening the firm’s first office in Saudi Arabia.

Ballard noted that he was very impressed by the opportunities offered not only to his company, but also to the clients it represents.

Underlining the importance of the Saudi endeavor to attract foreign legal firms and lawyers, he indicated that the reforms, which have regulated all aspects of business activities in the Kingdom, were very meaningful and transparent to the point that any company can come and find a suitable environment to launch its business.

Ballard stressed that major US law and accounting firms, as well as companies providing professional services, have a prosperous business future in Saudi Arabia, expecting the coming period to witness more American investments in the country.