RIYADH: The Saudi Arabian Monetary Authority (SAMA) has recently used blockchain technology to deposit part of the liquidity it announced to be injected into the banking sector.
This is part of SAMA’s actions aimed at boosting the sector’s capabilities to continue providing credit facilities. SAMA is one of the first central banks to experiment with blockchain technology for money transfers. The move is one of the key innovative initiatives launched by SAMA to promote Fintech in the Kingdom.
Other SAMA initiatives include the Fintech Saudi Initiative launched in cooperation with the Capital Market Authority, the introduction of SAMA Regulatory Sandbox, and an array of digital banking services and payments.
SAMA is striving to explore and experiment with emerging technologies to keep pace with the global trends of central banks.
Saudi Arabian Monetary Authority uses blockchain tech for funds transfer
https://arab.news/54phq
Saudi Arabian Monetary Authority uses blockchain tech for funds transfer
- SAMA is striving to explore and experiment with emerging technologies to keep pace with the global trends of central banks
Saudi Arabia and other countries condemn recent expansionist Israeli decisions
RIYADH: Saudi Arabia and several other countries on Monday condemned a series of recent Israeli decisions that introduce sweeping extensions to unlawful Israeli control over the West Bank.
In a statement, the foreign ministers of Saudi Arabia, Palestine, Qatar, Egypt, Jordan, Turkiye, Brazil, France, Denmark, Finland, Iceland, Indonesia, Ireland, Luxembourg, Norway, Portugal, Slovenia, Spain, Sweden, and the Secretary Generals of the Arab League and the Organization of Islamic Cooperation, condemned the changes that “reclassify Palestinian land as so-called Israeli ‘state land,’ accelerating illegal settlement activity, and further entrenching Israeli administration.”
“We are clear that Israel’s illegal settlements, and decisions designed to further them, are a flagrant violation of international law, including previous United Nations Security Council Resolutions and the 2024 Advisory Opinion of the International Court of Justice,” the statement read.
“These latest decisions are part of a clear trajectory that aims to change the reality on the ground and to advance unacceptable de facto annexation. They also undermine the ongoing efforts for peace and stability in the region, including the 20 point plan for Gaza, and threaten any meaningful prospect of regional integration,” it added.
The foreign ministers called on Israel to reverse the decisions immediately, respect its international obligations, and refrain from actions that would result in permanent changes to the legal and administrative status of the occupied Palestinian Territory.
“These decisions follow the unprecedented acceleration of Israel’s settlement policy, with the approval of the E1 project and the publication of its tender. Such actions are a deliberate and direct attack on the viability of the Palestinian State and the implementation of the two-state solution,” the foreign ministers said.
They reiterated their rejection of all measures aimed at altering the demographic composition, character and status of the Palestinian Territory occupied since 1967, including East Jerusalem.
“We oppose any form of annexation,” they said.
They also called on Israel to put an end to settler violence against Palestinians, including by holding those responsible accountable. They described the escalation in the West Bank as “alarming.”
“We reaffirm our commitment to taking concrete steps, in accordance with international law, to counter the expansion of illegal settlements in Palestinian territory and policies and threats of forcible displacement and annexation,” they said.
“In the holy month of Ramadan, we also stress the importance of preserving the historic and legal status quo in Jerusalem and its Holy Sites, recognizing the special role of the historic Hashemite custodianship in this regard. We condemn repeated violations of the status quo in Jerusalem, which constitute a threat to regional stability.
“We reaffirm our unwavering commitment to achieving a just, comprehensive, and lasting peace in the Middle East on the basis of the two-state solution, in line with the Arab Peace Initiative and relevant UN resolutions, based on the 4 June 1967 lines. As reflected in the New York Declaration, the end of the Israeli-Palestinian conflict is imperative for regional peace, stability, and integration. Only by realizing an independent, sovereign and democratic Palestinian State can coexistence among the region’s peoples and states be achieved,” they said.
The ministers called for the immediate release by Israel of withheld tax revenues due to the Palestinian Authority.
Those revenues must be transferred to the Palestinian Authority, according to the Paris Protocol, and they are vital for the provision of basic services for the Palestinian population in Gaza and in the West Bank, they said.









