Riyadh – Sharikat Mubasher: Abdulaziz Aldomaiji, Chairman of the Board of Directors at Tarmeez Capital, told Sharikat Mubasher that the Kingdom of Saudi Arabia is currently witnessing an impressive momentum in the fintech landscape as the kingdom is working to implement a strategy to have over 230 fintechs by end of 2025, and 525 ones by 2030.
He also pointed out that the government issued licenses to 224 companies, with a variety of purposes including digital banks, crowdfunding companies, and digital payments, by the 2nd quarter of 2024, which means that Saudi Arabia is coming closer to achieving the objective of 2025.
Aldomaiji made these statements on the sidelines of 24 Fintech, which takes place in Riyadh from September 3rd to 5th.
Tarmeez Capital is a crowdfunding platform, authorized by the Capital Market Authority (CMA), compliant with Islamic Sharia provisions, that aims to diversify investment opportunities by developing and expanding the Kingdom's debt market.
Aldomaiji added that his company targets several sectors with its products including real estate, funding industrial, tech, and educational companies, given that they are considered of the most promising in the Kingdom.
Speaking about 24 Fintech and how it shall contribute to fostering fintech sector in the Kingdom, Aldomaiji pointed out such an event plays a key role in gathering all parties working in the fintech sector together, either locally or globally, so that they can exchange expertise and deep knowledge. It shall also connect investors with startups to build up a powerful network that facilitates exchanging roles between all concerned parties.