Qasim Qazi’s Post

Saudi Arabia 🇸🇦 recent developments in the FinTech sector ⭕️ SAMA releases the second Open Banking framework for Payment Inition Service (PIS). And, licensed to three new Fintechs companies. ⭕️ The launch of the first addition of 24 Fintech, an outstanding event with 37K attendees, 350 speakers from 45 countries, 300 brands, 80 startups, and 550 investors. ⭕️ Saudi Central Bank – SAMA to enable Samsung Pay in Saudi Arabia in Q4, 2024. ⭕️ 1957 Ventures announcement of SAR 800M (USD 213M) venture capital fund to build and lunch FinTech companies. ⭕️ Tabby acquisition of Tweeq . In addition to many MOUs, agreements, and partnerships among the Regulators, FinancialInstitutions, FinTech, and technology providers during #24fintech event. #fintech #openbanking #partnerships Source: SAMA and 24FinTech

The latest installment of my 7-part series on the Saudi fintech ecosystem... In this note we consider Tabby & Tamara - two buy-now-pay-later unicorns, both of which are based in Saudi. We take a look at the primary institutions (i.e., SAMA, CMA, MoC, etc.) that are propelling growth in the Saudi fintech sector.

Riyadh – The Saudi Central Bank – SAMA has officially approved three new FinTech startups to join its regulatory sandbox, enabling them to test their innovative financial solutions in a controlled environment. This move further solidifies SAMA's commitment to fostering innovation and financial inclusion within the Kingdom’s rapidly growing FinTech sector. According to a press release, the newly admitted startups include "XSquare" and "NeotTek," both of which have been authorized to launch an Open Banking platform. Additionally, "MONEYMOON" has received approval to introduce a peer-to-peer lending platform. These innovative solutions are expected to provide enhanced financial services and contribute to the evolving digital landscape in Saudi Arabia. #SAMA #FinTech #SaudiArabia #Innovation #OpenBanking #P2PLending #FinancialInclusion #Vision2030

The evolution and growth of Fintech in KSA; the journey so far and the way forward. Over the past five years, the #fintech has undergone substantial growth. Not only has the participants increased but we are seeing all sorts of diversity too. In April 2018, Saudi Central Bank – SAMA, in collaboration with the Capital Market Authority kickstarted the nation’s fintech growth journey with the launch of Fintech Saudi | فنتك السعودية, an initiative aimed at cementing KSA’s position as the leading fintech hub in the region and beyond. Since the launch of Fintech Saudi, there has been a 20- fold increase in the number of fintechs operating in the kingdom. However, a journey like this arguably never ending and requires constant effort and focus. In this viewpoint which was lead by my colleague, Mohammad Nikkar, PhD , we have tried to capture some important milestones and shared our perspective on some of the challenges ahead for KSA to meet its goal of becoming a leading global fintech hub. Finally and personally, I have thoroughly enjoyed being a part of the Saudi Fintech and Financial Services ecosystem since 2009 and feel very fortunate to have been part of so many great stories in different guises. Along the way making some amazing relationships. Thank you to all those who have provided tremendous support and encouragement these past 15 years 🙌 Arthur D. Little Philippe De Backer Martin Rauchenwald 👋 Ronald Engel Stéphane Ulcakar Khaled M. Albasias Nezar Alhaidar Fares Alsaleh Ali B. Maria Medvedeva Mazen Pharaon Saleh Saleh Abdullah Faisal Al Othman Abdulmajeed Alsukhan Paul Melotto Saeed A. Assiri Arif Raza AbdulAziz Al Sedeas #fintech #payments #digitalassets

🌟 Saudi Arabia: The Middle East’s Next Fintech Oasis 🚀 Ready to see how Saudi Arabia is leading the fintech revolution? From cashless payments to digital wallets, the Kingdom is setting new standards in financial innovation. 🌐💼 📖 Read our latest blog to explore: 🔹 The rise of the digital economy 🔹 Growth of digital wallets 🔹 The impact of Saudi Vision 2030 🔹 Thunes’ role in Saudi Arabia's fintech journey Learn more with Thunes 👉 https://lnkd.in/gTWV69TP #Fintech #SaudiArabia #DigitalTransformation #Vision2030 #Thunes

🇸🇦 Saudi Arabia: A Rising Fintech Star in the Middle East! Saudi Arabia is rapidly emerging as a fintech powerhouse in the Middle East. With its ambitious Vision 2030 and a focus on digital transformation, the Kingdom is attracting global investors and fintech startups. Key takeaways: - Economic growth is projected to reach $1.1 trillion by the end of 2024. - 97% smartphone usage driving the adoption of digital payments and wallets. - Saudi Arabia is fostering a thriving fintech ecosystem with initiatives like FinTech Saudi. - Massive investments in digital infrastructure with 93% digital penetration. With these advancements, Saudi Arabia is set to reshape the financial landscape of the MENA region and beyond. 🌍 Let’s connect and discuss how we’re working with PwC Middle East to transform the financial services industry in the region! #Fintech #DigitalTransformation #PwCMiddleEast Insights taken from: https://lnkd.in/dv8ZkCKU

In a major leap forward, MONEYMOON has officially received authorization from the Saudi Central Bank – SAMA and made a powerful entrance into the fintech scene with its official launch at 24 Fintech. MONEYMOON made an impactful debut at 24 Fintech and social media, where it captivated audiences with its one-of-a-kind Peer-to-Peer (P2P) lending model. MONEYMOON is setting a global precedent with its pioneering one-to-one lending structure. Unlike traditional crowdfunding, where multiple contributors fund a single borrower, this first-of-its-kind model directly connects individual lenders with individual borrowers, offering an entirely new financial experience. MONEYMOON’s app’s standout feature is its high liquidity for investors, with one-month lending cycles that ensure rapid capital returns. Borrowers benefit from short-term loans tailored to meet their immediate needs, eliminating long-term financial burdens. MONEYMOON’s strategic launch in Saudi Arabia, a rising fintech hub, aligns perfectly with the Kingdom’s goal to become a global leader in financial services. With the backing of #SAMA and the momentum gained from its successful debut at 24Fintech, MONEYMOON is well-positioned to expand globally and revolutionize the fintech space and the personal finance landscape. Read more: https://lnkd.in/dQ2nsBfa MONEYMOON, Abdulmajeed Alaskar, Abdallah Alemran 24 Fintech, Fintech News UAE, Fintech News Egypt #FintechNewsUAE #MONEYMOON #LaunchinginKSA #24Fintech #SAMA #P2P #P2PLendingPlatform #crowdfunding #IndividulaLenders #IndividualInvestors #Tech #Innovation #Fintech #FinancialInclusion #FinancialServices #SmallLoan #Smartloan #smartInvestment #Investment #VCs #Funding #Investment #CapitalVentures #AngelInvestors #SaudiFintech #SaudiStartup #SaudiArabia #KSA #SaudiVision2030 #UAEFintechNews #UAE

Moroccan fintech Premium Technology & Services (PTS), secures MAD 5M funding from BMCE Capital to scale its digital payment solutions. Founded in 2020, PTS partners with top banks like Bank Of Africa, offering innovative tools to transform traditional bank cards into advanced digital services. Stay ahead in the startup world! 🌟 Get a weekly digest of key happenings and insights delivered to your inbox every Monday morning. Don't miss out—subscribe now: https://lnkd.in/ezHS36SV 🚀 #Fintech #DigitalPayments #Funding #Morocco

💡 The fintech landscape in Saudi Arabia is booming! With the Saudi Central Bank (SAMA) licensing Tal Finance for debt-based crowdfunding and Hiberbay Ink Al-Saoudia for e-wallet services, the Kingdom is making bold strides toward its Vision 2030 goals. 🚀 🔹 62 licensed finance companies 🔹 27 payment service providers 🔹 Aiming for 70% cashless transactions by 2025 Saudi Arabia is on track to become a global leader in fintech innovation! 🌍 #SaudiFintech #Vision2030 #DigitalTransformation #FinancialInclusion https://lnkd.in/dZMgeFA9

Your one-stop destination for the latest in fintech and finance! 🚀 This week’s edition of #NewswithLeanTech highlights strategic partnerships, innovative expansions, and funding wins reshaping the financial landscape across the MENA region and beyond. From fostering SME growth to enhancing global payment capabilities, here’s what’s making waves: ✨ Tarabut and geidea join forces to explore SME financing solutions in Saudi Arabia, unlocking new opportunities for businesses. 🤝 HSBC launches Global Private Banking in Kuwait, offering bespoke wealth management services under an international investment advisory license. 💳 Ooredoo Fintech partners with PayPal to enable seamless fund transfers and global commerce for Ooredoo Money users in Qatar. 🌏 Zand Bank collaborates with Alibaba Cloud and Ant Digital Technologies to drive AI, blockchain, and payment innovations for UAE clients. 💰 Pemo secures $7M in Pre-Series A funding, led by Shorooq and Augmentum Fintech, to expand into GCC markets, including Saudi Arabia. Dive into these stories for insights into the region’s dynamic financial evolution! 💡 The edition also features the likes of: PayBy BuzzAR(博跃) eNovate Mastercard Bank for International Settlements – BIS Reinsurance Group of America, Incorporated