Halalah secures SAMA’s fintech license

Esam Al-Nahdi Founder and CEO of Halalah
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Updated 24 March 2020

Halalah secures SAMA’s fintech license

The Saudi Arabian Monetary Authority (SAMA) announced last week that Halalah has successfully attained the full e-money institution license (EMI) in Saudi Arabia. The Saudi-based fintech company has been operating in the local market previously under a sandbox trial period license. Halalah managed to “graduate” from the trial period ahead of schedule after complying with all regulatory requirements that focused on the maturity of product, the structure of the company, the agility of its processes and the security of its infrastructure.
“Halalah is not your typical startup, as it has gone through a long journey in a short period of time to reach where it is today,” said Founder and CEO Esam Al-Nahdi. Starting in Saudi Arabia with clear ambitions for the regional fintech market, the company got licensed in UAE in 2017 by the FSRA’s Fintech RegLab in Abu Dhabi Global Market (ADGM), before coming back to Saudi Arabia to get SAMA’s sandbox approval in the first quarter of 2018, to kick-start its operations in November 2018.
“Throughout 2019, Halalah managed to institutionalize its operating model, and build a robust infrastructure and product engine, as well as striking a few strategic partnerships that will cater to the needs of the new generation of customers and putting the company in the right position to achieve its local, regional and global plans,” added Co-founder and Chief Strategy Officer Maher Loubieh.
With the full license now obtained, “the next milestone in Saudi Arabia is to relaunch Halalah KSA with a new set of financial services and products that will enable customers to manage their finances and do transactions through Halalah,” said Al-Nahdi.


Lulu initiates faster delivery in KSA, partners with various food delivery apps

Updated 30 March 2020

Lulu initiates faster delivery in KSA, partners with various food delivery apps

RIYADH: LuLu, the region’s top retailer, joined hands with various delivery partners to further widen the reach and speed up its online grocery delivery, in view of the current curfew restrictions all the over the country to combat corona virus.

As part of the new initiative, shoppers can now order their groceries through popular apps, such as Hunger Station, To you, Careem now and Wasel. LuLu has created an exclusive list of essentials and daily groceries from which shoppers can order for speedy deliveries at their doorsteps.

Commenting on the new initiatives, Shehim Mohammed, Director of LuLu Hypermarkets in Saudi Arabia, said: “In wake of the current pandemic, we are exploring all possible avenues to ensure that residents in the Kingdom get their orders as quickly as possible. Apart from the food delivery apps, we have also tied up with Aramex, Samsa and many rent-a-car companies to expedite the delivery of online shopping orders.”

Hunger Station and To You has gone live with LuLu groceries on 29th March and others will be up and running in the next couple of days as confirmed by the authorities.

“We are fully aware of our responsibilities as a leading retailer and have ensured that our stores and warehouses are well stocked. We are working very closely with government authorities, suppliers and logistics partners to ensure uninterrupted and sustained supplies while maintaining the highest standards of hygiene, health and safety. We thank all our shoppers for their support and urge them to remain calm and stable, as there is absolutely no need for any anxiety or panic,” added Shehim Mohammed.