Saudi Arabia-based fintech Hala acquires UAE’s Paymennt.com aiming to excel in SME sector

The officials from Saudi-based regional Fintech HALA acquires UAE’s payment startup Paymennt.com during the LEAP exhibition in Riyadh from Feb 6 till Feb 9. (Photo courtesy: HALA)
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Updated 14 February 2023
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Saudi Arabia-based fintech Hala acquires UAE’s Paymennt.com aiming to excel in SME sector

  • The acquisition will allow Hala to further enhance its product offerings through online payments
  • Hala cofounder says will soon announce another acquisition to help support regional entrepreneurs 

ISLAMABAD: Hala, a Saudi Arabia-based regional fintech company, has announced that its holding company acquired United Arab Emirates (UAE) startup Paymennt.com during the 2nd edition of the LEAP exhibition in the Saudi capital of Riyadh. 

Paymennt.com, formerly known as Point Checkout and established since 2017, is a payment service provider that is regulated by the Abu Dhabi Global Market’s RegLab, and with offices across the UAE and Jordan. 

The startup serves more than 2,000 micro and small businesses by offering them a platform to support their offline-to-online journey along with an integrated online payment solution and has managed to grow by over 250 percent in payment processing year-over-year.

The acquisition will allow Hala to further enhance its product offerings by incorporating online payments, thus enabling its SME customers to increase their online presence.

"Our expansion will not stop here, soon we will announce another acquisition in MENA (Middle East and North Africa) to help and support regional entrepreneurs and SMEs (small-media enterprises) in the region," Hala co-founder Esam Al-Nahdi said in a statement on Tuesday.

"Also our product portfolio will be expanded to enable entrepreneurs and SMEs."

Hala has made progressive leaps within the fintech industry ever since it commenced its operations in 2018, according to the fintech firm. The company witnessed a significant growth in 2022 by doubling its customer base and revenues year-over-year.

“We are excited to welcome Paymennt team to our family to join us in executing our shared vision. The trigger was simple, we met smart entrepreneurs who share a similar vision and who are building a complementary product that clearly fits within our strategy,” Maher Loubieh, another Hala co-founder, announced during the LEAP conference last week.

"With more to come, this is our first endeavor outside our homeland and is the first block towards executing our global vision. We believe integrating the offering of Paymennt.com with that of Hala will provide a major added-value for our customers in Saudi and in UAE."

“It’s a privilege to join a key player in the region’s FINTECH ecosystem, one that shares our commitment and passion to cater to the needs of SMEs,” Paymennt.com CEO Bashar Saleh said, terming the acquisition a “major step forward” for SME payments.

"We are very proud of what our team has achieved to date, having gained the trust of our merchants in processing their payments. Now, being part of the Hala family, we can better serve our customers and grow across the Middle East and beyond."

The LEAP exhibition is a global tech convention that provides a platform for bringing together one of the finest brains in the global tech industry from around the world to discover new ideas, build partnerships, and connect with inspiring mentors and investors to tap into the limitless potential of tech for a positive future.  

The 2nd edition of the conference was held in Riyadh from Feb 6 till Feb 9, which featured innovative technology solutions and products for leading global information technology and telecommunication-related companies.


Makkah royal commission showcases city’s cultural, tourist offerings at World Travel Market

Updated 14 min 9 sec ago
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Makkah royal commission showcases city’s cultural, tourist offerings at World Travel Market

  • Saudi minister of tourism speaks of Kingdom’s investment in sector

LONDON: The Royal Commission for Makkah City and Holy Sites this week showcased key projects that highlight the Saudi city’s rich cultural and historical significance, as part of the Saudi delegation at the World Travel Market 2024 in London.

Major initiatives featured by the RCMC included the Hira Cultural District, the Revelation Exhibition, the Kiswa Factory of the Holy Kaaba, and the Institute of Manuscripts and Revival of Islamic Heritage.

The RCMC pavilion also provided insights into major infrastructure developments, such as Makkah’s public transportation system.

This system, with 12 bus routes covering all neighborhoods, is designed to ensure seamless, reliable travel and improve the quality of life for both residents and visiting pilgrims.

This year’s World Travel Market event, which finished on Thursday, also saw Ahmed Al-Khateeb, the Saudi minister of tourism and chairman of the Saudi Tourism Authority, launch the Kingdom’s participation with the Saudi Land Pavilion.

The pavilion included the Visit Saudi exhibition, organized by the Saudi Tourism Authority for the fourth consecutive year and supported by more than 70 partners in the sector, including destinations, hotels, airlines and travel companies.

Al-Khateeb said: “Saudi Arabia, the fastest-growing tourist destination globally, seeks to solidify its leadership in world tourism, aligning with the Saudi Vision 2030 goals by highlighting unique destinations, new projects, and significant investment opportunities.”

He added: “Saudi Arabia is the largest global investor in the tourism sector.”


Meet Reman Assere, Saudi Arabia’s youngest Arabic calligraphy instructor

Updated 36 min 54 sec ago
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Meet Reman Assere, Saudi Arabia’s youngest Arabic calligraphy instructor

  • She became the youngest certified instructor at the age of just 11
  • Assere now tutors students of all ages

MAKKAH: After qualifying at just 11 years old, Reman Assere officially became Saudi Arabia’s youngest calligraphy instructor.

Her journey started in fifth grade, sparked by a school activity. She began with basic exercises but, with continuous practice and self-learning through platforms such as YouTube, she steadily refined her skills.

Arabic calligraphy is celebrated for its variety of styles, including Kufic, Naskh, Thuluth, Diwani, and Ruq’ah, each with a unique character and distinct lettering technique. (Supplied)

Her ambitions and her love of the art drove her to undertake professional training in Kufic calligraphy, believed to be the earliest example of a universal style of Arabic calligraphy. Once qualified, she was registered on the Ministry of Culture’s official platform, Al-Khattat.

What truly set her apart and caught people’s attention was her relentless dedication to learning. Even during vacations, she practiced tirelessly, seeking out special events and connecting with other calligraphers.

FASTFACT

Reman Assere’s ambitions and her love of the art drove her to undertake professional training in Kufic calligraphy.

Now aged 15, Assere told Arab News that her professional training was carried out under the guidance Shurooq Al-Harbi. She also highlighted the pivotal role played in her development by Prof. Siraj Al-Omari, whose ongoing support and encouragement were instrumental.

Today, Assere has become proficient in both in writing and teaching Kufic calligraphy and is expanding her expertise to include the Diwani style.

Reman Assere

However, her journey has been far from easy. A lack of calligraphy institutes in her native region of Abha posed considerable challenges and meant she had to rely on online courses or travel to other cities.

It was worth it, however. Her numerous awards include first place in the 2023 Cultural Skills Competition and the Ministry of Education’s National Olympiad for Arabic Calligraphy. She has also demonstrated her talents at prominent events, such as the Layalina Festival in Wadi Al-Dawasir and the Abha Shopping and Entertainment Festival.

Arabic calligraphy is celebrated for its variety of styles, including Kufic, Naskh, Thuluth, Diwani, and Ruq’ah, each with a unique character and distinct lettering technique. (Supplied)

Assere has also led courses at the Holy Mosque Library in Makkah and organized calligraphy workshops in schools.

Today, she is recognized as one of the most influential trainers in Arabic calligraphy, teaching across all age groups. She takes pride in seeing her students compete in calligraphy competitions, a testament to the success of her approach and teaching methods.

Reman Assere has become proficient in both in writing and teaching Kufic calligraphy and is expanding her expertise to include the Diwani style. (Supplied)

Even in an age of rapid technological advancements, Assere is confident that calligraphy’s unique beauty will endure. She believes the future is bright for students and trainees, as the art of calligraphy continues to inspire and cultivate creativity.

She explained how the beauty of Arabic calligraphy is in the balance and harmony of its letters, with fluid lines that interlace. For Assere, Arabic calligraphy not only captures the essence and grace of the Arabic language, but it also allows the writer to convey thoughts and emotions.

Arabic calligraphy is celebrated for its variety of styles, including Kufic, Naskh, Thuluth, Diwani, and Ruq’ah, each with a unique character and distinct lettering technique. Rooted in precise geometric principles, Arabic calligraphy achieves a harmonious visual balance, allowing for flexibility in letter formation, overlapping designs, and intricate decorative motifs.

Assere said: “The beauty of Arabic calligraphy extends beyond writing; it is a visual art that enhances both artworks and decorations. Over time, it has become a cultural symbol that embodies Arab and Islamic identity.”

 

 


Saudi Arabia’s urban planning on display at WUF

Updated 08 November 2024
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Saudi Arabia’s urban planning on display at WUF

  • The pavilion highlighted prominent Saudi infrastructure development initiatives, in line with international quality standards, that meet the needs of residents and visitors of Saudi cities

CAIRO: The Saudi pavilion at the World Urban Forum in Cairo this week hosted a series of workshops and bilateral meetings on the Kingdom’s strategies and projects in comprehensive urban planning.

The Saudi presence also underlined the positive effect of these strategies on achieving sustainable urban development and improving the quality of life in Saudi cities, in line with the goals of Vision 2030.

Through representatives and officials of the Ministry of Municipal and Rural Affairs and more than 30 national entities, the Saudi pavilion showed the Kingdom’s efforts to adopt and expand comprehensive urban planning practices focused on sustainability, and apply the requirement to study environmental impact in municipal and investment projects.

The meetings highlighted the concept of smart municipalities aimed at improving the quality of municipal services in Saudi regions and adopting modern technologies and enhanced municipal regulations for smart city policies, as well as the use of artificial intelligence technologies and data in improving the quality of life.

The pavilion highlighted prominent Saudi infrastructure development initiatives, in line with international quality standards, that meet the needs of residents and visitors of Saudi cities, the Saudi Press Agency reported, in addition to urban landscape development projects and visual distortion treatment projects.

 

 


Saudi foreign minister, Blinken discuss regional crises

Updated 08 November 2024
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Saudi foreign minister, Blinken discuss regional crises

  • Two discussed ongoing efforts to address the issues in Gaza and Lebanon

RIYADH: Saudi Minister of Foreign Affairs Prince Faisal bin Farhan spoke on the phone on Friday with US Secretary of State Antony Blinken, Saudi Press Agency reported.

During the call, they reviewed regional issues, with a particular focus on Gaza and Lebanon and ongoing efforts to address the issues there, SPA added.

In a separate call on Friday with UAE Foreign Minister Sheikh Abdullah bin Zayed Al-Nahyan, Blinken stressed the need to stop the fighting in Sudan and the need to support efforts to form a civilian government, the State Department said.

Blinken also discussed the need to expand humanitarian access to Sudan and thanked the UAE for its provision of aid for Gaza and Lebanon, according to a State Department statement.


Craft program agreement signed in Jeddah

Updated 5 sec ago
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Craft program agreement signed in Jeddah

  • The agreement was signed during a visit by Princess Jawaher bint Turki bin Abdullah, chairperson of the programs and activities committee at the endowment organization

JEDDAH: The Princess Seeta bint Abdul Aziz endowment organization, or Wqfsba, has signed an agreement with the Daam Association for the Care of Divorced Women, Widows and their Children. It aims to support the programs and projects set for 2025, including research collaborations, supporting craft and industrial projects, as well as training and empowering beneficiaries and their children to be self-reliant.

The agreement was signed during a visit by Princess Jawaher bint Turki bin Abdullah, chairperson of the programs and activities committee at the endowment organization, to an exhibition held by the Daam association in Jeddah, showcasing the products made by beneficiaries.

The exhibition aims to support beneficiary families and promote community programs focusing on empowering women as well as supporting handicraft projects.