The Capital Market Authority decided to require managers of public money market funds to ensure that investments and assets held outside Saudi Arabia do not exceed 5% of a fund's net asset value. All overseas investments must also be with counterparties holding an investment-grade credit rating issued by a licensed credit rating agency, according to a CMA circular to capital market institutions.
Limiting foreign exposure to 5% of net asset value means money market funds are mainly used for domestic funding. This change affects where riyal liquidity is held more than it changes what savers earn.
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29.3 million, and counting
29.3M international tourists in 2025, up 67% since 2019, highest growth of any OECD member; SR176.6bn foreign spend, SR127.1bn domestic; 5.2% of GDP.
Domestic spend is close behind foreign and growing faster (10%), the Saudi family is the customer you can actually reach this year.
Bad loans eat eXtra's profit
United Electronics Co. (eXtra) said Q3 2026 net profit fell about 27% to SAR 105 million from SAR 143 million. Profit in its consumer finance segment fell 82.4%, with net impairment losses of SAR 70.1 million in the quarter; over nine months, impairments included a SAR 33.8 million management overlay to raise coverage and speed write-offs. Retail profit rose 10.6%, and revenue grew 5.5% to SAR 1.89 billion.
The retail business increased its profit by 10.6%, while consumer finance profit declined by 82.4%. This indicates that eXtra's quarterly results were driven by credit factors rather than consumer demand.
License Number 77
SAMA approved Credit Line for micro consumer finance, taking licensed finance companies to 77 against a Vision 2030 target of 525, with fintech micro-lending capped at SR25,000 per borrower
The takeaway: As license numbers grow toward the 2030 target, the real advantage lies in owning distribution and the customer's daily habit, which are key to winning in the lending market.
