RIYADH: Geidea, the largest financial technology (fintech) company in Saudi Arabia by market share, said that industry heavyweight Nick Ogden had joined its board of directors.
“We are proud to have the global financial sector expert Nick Ogden join our board of directors,” Geidea tweeted. “He is the founder @Worldpay_Global and @clear‐bank and other international financial companies, who will be a great addition to our team.”
Ogden has founded several major names within the financial services sector, including Europe’s largest global payment processing company Worldpay and ClearBank, the UK’s first clearing bank to launch in more than 250 years.
Commenting on his appointment, Ogden said: “I am delighted to be joining Geidea at such a pivotal stage in its growth and expansion. Geidea is a dynamic organization that has already made a significant mark on the fintech landscape.”
Abdullah Al-Othman, founder and chairman of Geidea, said: “We are excited to bring Ogden on board to the Geidea family. With his wealth of expertise and knowledge in the payments, e-commerce and rapidly evolving regulatory space, he will be an invaluable addition to the company as we continue to expand across the region and broaden Geidea’s payment solutions.”
Founded in 2008 in Riyadh, Geidea has around 500 employees. It services over 60,000 merchants and 200,000 payment terminals in the Kingdom.
Saudi largest fintech firm appoints Nick Ogden to its board
https://arab.news/cj9kb
Saudi largest fintech firm appoints Nick Ogden to its board
- Founded in 2008 in Riyadh, Geidea has around 500 employees
Closing Bell: Saudi main index rises to close at 11,251
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 84.27 points, or 0.75 percent, to close at 11,251.81.
The total trading turnover of the benchmark index was SR5.38 billion ($1.43 billion), as 188 of the stocks advanced and 67 retreated.
Similarly, the Kingdom’s parallel market Nomu gained 157.22 points, or 0.67 percent, to close at 23,643.74. This comes as 44 of the stocks advanced while 32 retreated.
The MSCI Tadawul Index gained 10.88 points, or 0.72 percent, to close at 1,517.43.
The best-performing stock of the day was Saudi Kayan Petrochemical Co., whose share price surged 9.96 percent to SR5.30.
Other top performers included Ataa Educational Co., whose share price rose 9.94 percent to SR57.50, as well as Rabigh Refining and Petrochemical Co., whose share price surged 5.74 percent to SR7.55.
Saudia Dairy and Foodstuff Co. recorded the most significant drop, falling 5.93 percent to SR220.50.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. also saw its stock prices fall 2.77 percent to SR43.56.
Zahrat Al Waha for Trading Co. also saw its stock prices decline 2.30 percent to SR2.55.
On the announcement front, Multi Business Group Co. reported its annual financial results for the year ended Dec. 31. According to a Tadawul statement, the firm recorded a net profit of SR352,172 during the year, down 98 percent from the previous year.
The company attributed the decline primarily to a 2 percent drop in building contracting revenues and a 73 percent decrease in gross profit.
Multi Business Group Co. ended the session at SR9.90, down 1 percent.
Hamad Mohammed Bin Saedan Real Estate Co. announced the signing of a memorandum of understanding with Saudi Awwal Bank to enhance collaboration in financing solutions, advance real estate development projects, and expand access to customer financing programs.
Hamad Mohammed Bin Saedan Real Estate Co. ended the session at SR6.67, up 1.21 percent.
