The chairman of Israeli lender Bank Leumi Le-Israel BM spoke at an investment conference in Saudi Arabia on Thursday.
“The potential here is huge,” Samer Haj-Yehia, an Israeli-Arab originally from Taibeh, said at the Future Investment Initiative. He spoke of Saudi Arabia’s thriving economy, tech-savvy youth and high mobile penetration, while noting opportunities in the broader region’s under-banked and un-banked areas.
“We can see that there is a lot of investment going on and we want to tap into that kind of investment, whether it is on the payment side, whether it is in the it is in the crypto currency side, anything we can leverage from the micro-services and the cloud, we would love to do that.”
Arab-Israeli citizens make up about 20 percent of Israel’s population. Muslims from Israel have been allowed to travel to Saudi Arabia for religious pilgrimage, despite the lack of diplomatic ties between the two nations.
“Although he is an Israeli-Arab, and we can’t forget that Israeli Arabs travel to Saudi for the hajj every year, he didn’t come as a Muslim, but as chairman of Bank Leumi Le-Israel, and the name of the bank is meaningful here,” said Shaul Yanai, a Saudi expert at Hebrew University in Jerusalem.
Israel, Lebanon sign US-brokered maritime border deal in rare diplomatic featIsraeli and Lebanese leaders signed a landmark US-brokered agreement on their maritime boundary on Thursday, marking a diplomatic departure from ... Middle East
Israel PM slams Australia’s decision to stop recognizing Jerusalem as its capitalIsraeli Prime Minister Yair Lapid on Tuesday sharply criticized Australia’s decision to stop recognizing west Jerusalem as his country’s capital, ... Middle East
Israel appoints Herzi Halevi as next military chiefThe Israeli government on Sunday confirmed Major General Herzi Halevi, a former military intelligence head who led forces along the Gaza border, as ... Middle East