With significant investment from Western Union, STC will convert its subsidiary STC Pay into a digital bank, STC Bank, with capital of USD 670 million.

Saudi Arabia is investing billions of dollars in different tourism initiatives to diversify its revenue sources and reduce its dependence on oil exports.

The Saudi startup also plans to integrate third-party financial services on its platform, a move that will create more value for its clients.

With the latest funds, Tamara plans to fuel its expansion and launch in new GCC markets by the end of the year.

Hala is one of the first fintech firms to receive a license from the Saudi Central Bank.

The experimental permit gives Sarwa access to a limited number of users in Saudi Arabia for now.

Open Banking is a practice where banks share their customer data with third-party financial services providers like fintech players.

Jahez has quickly grown into one of the largest food delivery players in Saudi Arabia.