Saudi Arabia - Saudi Electronic Info Exchange Company (Tabadul), a leading provider of innovative digital and smart financial services, has signed a memorandum of understanding (MoU) with Fintech Saudi initiative in Riyadh.

The MoU will strengthen collaboration between the two parties to launch joint projects to support the fintech industry in line with Saudi Vision 2030, said a statement.

The MoU was signed by Feher Alshareif, Tabadul’s Chief Strategy & Innovation Officer, and Nezar Alhaidar, Fintech Hub Manager at Fintech Saudi. It aims to support fintech startups and scale up their capabilities in the logistics sector and unveil initiatives to scale up the kingdom’s fintech industry.

Alshareif said: “This MoU cements Tabadul’s position and contrinutes 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.”

Alhaidar said: “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.”

As per the MoU, the two parties will collaborate to build and develop a convenient fintech ecosystem and raise awareness of the industry. The two parties will launch mutual projects and initiatives and 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, said the statement. 

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