TABADUL & Fintech Saudi unite to support Kingdom’s fintech Industry

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Saudi Arabia
Representational Image

The Saudi Company for Exchanging Digital Information (TABADUL) has signed a memorandum of understanding (MoU) with Fintech Saudi to launch joint projects to support the fintech industry in line with Saudi Vision 2030.

The MoU aims to support fintech startups and scale up their capabilities in the logistics sector and launch initiatives to scale up the Kingdom’s fintech industry.

As per the MoU, the two parties will collaborate to build and develop a convenient fintech ecosystem and raise awareness of the industry.

Mr. Feher Alshareif Chief Strategy & Innovation Officer at TABADUL said that, “This MoU cements TABADUL’s position and contributes to increasing the adoption of our fintech solutions for the logistics sector through multiple fintech channels in collaboration with our strategic partners at Fintech Saudi. This also supports our goal of becoming the leading provider of integrated digital logistics solutions in the Kingdom and one of the top digital logistics providers globally.”

Furthermore, the two parties will launch mutual projects and initiatives as well as create new opportunities for entrepreneurs to develop their businesses and products. They will also scale up cooperation and exchange expertise to serve their common goals and outline a clear framework for their collaboration.

Fintech Saudi’s Fintech Hub Manager, Mr. Nezar Alhaidar noted that, “At Saudi Fintech, we are creating an ecosystem that brings together creative entrepreneurs and prepares fintech companies to design and deliver innovative solutions that would elevate logistics services in line with the objectives of the Financial Sector Development Program and the National Industrial Development and Logistics Program.”

Related: Saudi’s SAMA & CBUAE sign MoU for mutual supervision of insurance sector