PayTabs raises $20m investment for global expansion

Abdulaziz F. Al-Jouf
Updated 28 August 2017
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PayTabs raises $20m investment for global expansion

PayTabs, a payment processing firm incorporated in Saudi Arabia, has raised a $20 million investment to support its products and global expansion. The expansion plan extends to 20+ markets in the next two years. The investment will support PayTabs’ expansion in the MENA region, Southeast Asia, India, and several countries within Africa and Europe. Additionally, PayTabs will invest in new product developments such as digital payments to support their current and future customers. PayTabs said it will also engage in key strategic acquisitions to further expand its portfolio of products and services.
“PayTabs’ investment will be a significant contributor to local economic growth while also helping to potentially create 4000+ direct and indirect opportunities globally within the next two years,” a press release said.
Abdulaziz F. Al-Jouf, founder and CEO of PayTabs, said: “Our mission is to transform the face of financial services ... PayTabs wants to provide secure and flexible financial solutions to small and medium enterprises, and large corporations to help them flourish and grow their revenue in multiples. We have started operations in 2014 in the Middle East, and we aim to expand into other markets to accomplish our mission globally by offering a solution that is different from what exists in the market right now.”
PayTabs is determined to continue innovating, and to fill the regional and global Fintech gap by leveraging its massive potential.


Pharmaceutical giant Allergan to train KSU pharmacy students

Updated 23 April 2019
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Pharmaceutical giant Allergan to train KSU pharmacy students

Global biopharmaceutical company Allergan has signed a memorandum of understanding (MoU) with King Saud University (KSU) that focuses on developing a robust student-exchange program by facilitating training opportunities for Saudi nationals.

The agreement was signed by Ramsey Morad, Allergan’s vice president for India, Middle East and Africa, and Dr. Aws Al-Shamsan, dean of the College of Pharmacy at the university. The MoU is in line with the Kingdom’s overall efforts to drive more cooperation levels between the public and private sectors, with the underlying objective to integrate Saudi nationals into various fields within the health-care sector.

Under the agreement, Allergan will provide training courses on an annual basis for students at the College of Pharmacy as well as programs to develop their scientific and medical knowledge and align them to international industry best practices. Students will be assessed according to set parameters, and the top performers will earn an internship opportunity with the company

In addition, Allergan will run courses for faculty members at the College of Pharmacy with a focus on leadership skills.

Morad said: “We have used practical methods to express our commitment toward the Kingdom and toward the realization of Vision 2030. We are placing a very high emphasis on developing the local capabilities of Saudi nationals within the health-care sector, and this partnership with a leading university in the region is one of the steps we are taking. Saudi Arabia is at the heart of our operations in the region, and this MoU represents a key milestone in our efforts to attract the young minds of tomorrow and integrate them as core members of our Allergan team.” 

Al-Shamsan said: “We are proud to partner with Allergan to implement internationally recognized knowledge-based programs for the development of our students. With this MoU, we are focusing on the enhancement and development of the pharmaceutical sector across the Kingdom. We are guided by the mission to provide students experiences to learn from international best practices and, at the same time, work toward the improvement of the quality of the pharmaceutical sector in the Kingdom.”

Allergan said it is committed to a wide range of programs with health-care professionals, patients and national entities across the Kingdom. The company’s investments through its joint venture, Allergan Saudi Arabia, include the development of medical training centers focused on training health-care professionals in medical aesthetics.