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Temenos (SIX: TEMN), the banking software company, announced that Saudi Arabia's Tourism Development Fund (TDF) has gone live with a digital lending service on Temenos in just 60 days. The new service provides investors and businesses in the tourism sector with rapid access to financing solutions from TDF. The SAR 15 billion (USD 4 billion) fund was established to enable private sector tourism investments and develop the tourism sector as part of plans to diversify the Saudi economy.
In the face of unprecedented global challenges due to the ongoing pandemic, the new digital service makes it faster and easier for local and international tourism investors to access financing solutions for tourism development projects. The service currently offers corporate lending and...
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