Saudi Arabia exempts stores from Merchant Services Charge for 3 months
The fixed monthly payment for stores whose operations cost less than $3,995 a month will be stopped
Updated 23 March 2020
Arab News
DUBAI: The Saudi Arabian Monetary Authority (SAMA) will support retail stores by exempting them from points of sales (POS) and e-commerce fees for three months, starting March 14.
SAMA announced the eligibility requirements for the new support program on twitter.
All POS and e-commerce fees related to purchases using internationally accepted cards and cheques in the Kingdom - which are processed through a host entity in Saudi Arabia - through outlets, websites and apps for licensed local commercial activities will be eligible.
Sellers and entities which are registered with the authority will be excluded from the program.
The fixed monthly payment for stores whose operations cost less than $3,995 a month, which amounts to $26.6, will be stopped during the period and will not be included in the support program.
Saudi scientific organization celebrates 2025 Nobel Prize in Chemistry laureate Omar Yaghi
King Abdulaziz City for Science and Technology honors him with a reception at its headquarters in Riyadh
Yaghi, the first Saudi recipient of a Nobel Prize, shared the Nobel Prize with 2 other scientists for their pioneering work in molecular chemistry
Updated 30 January 2026
Arab News
LONDON: King Abdulaziz City for Science and Technology in Riyadh honored Omar Yaghi, the Saudi scientist and recipient of the 2025 Nobel Prize in Chemistry, with a reception at its headquarters in Riyadh on Thursday.
Yaghi is the first Saudi scientist awarded a Nobel Prize. He received it in December, alongside two other scientists, for their pioneering work in the field of molecular chemistry, and for contributions to energy, the environment and advanced materials.
He is also supervisor of the Center of Excellence for Nanomaterials for Clean Energy Applications, a collaboration between KACST and the University of California, Berkeley.
Munir Eldesouki, the president of KACST, said that the Kingdom is keen to recognize its scientific talents, in keeping with Saudi Vision 2030 and its goals relating to the fostering of scientific research.
King Abdulaziz City for Science and Technology in Riyadh honored Omar Yaghi, the Saudi scientist and recipient of the 2025 Nobel Prize in Chemistry. (SPA)
Yaghi said he appreciated the support he had received from Saudi leaders during his career, and praised them for creating an enabling environment in which scientists are able to pursue world-class research, development and innovation.
Investment in national talent has created a research ecosystem that positions Saudi Arabia among the leading scientific nations, he added.
Thursday’s event, attended by the organization’s staff and students, also honored the winning teams from the recent “GenAI for Materials Discovery Hackathon,” which KACST organized in partnership with the University of California, Berkeley, and Academy 32, a nonprofit Saudi organization dedicated to research, development and innovation.
The celebration concluded with an interactive discussion session during which Yaghi talked with students and researchers, reflected on key milestones in his scientific journey, and shared insights into the factors that helped shape his career, the Saudi Press Agency reported.
