JEEL launches JEEL Sandbox to foster Saudi fintech startups

NOHA.GAD

Sep 17, 2025

JEEL launched JEEL Sandbox during Money 20/20 conference to enable Saudi fintech firms to test and solidify their solutions

Riyadh - Sharikat Mubasher: Jeel, a financial and technology ecosystem provider powered by Riyad Bank, launched its groundbreaking Jeel Sandbox, a home-grown banking-as-a-service (BaaS) platform, in partnership with the Saudi Central Bank (SAMA) and Fintech Saudi.

The platform, launched during the Money 20/20 Middle East conference, enables fintech firms and startups to test and solidify their solutions in preparation for submission to SAMA, CEO George Harrak stated in an interview with Asharq Business.

Jeel aims to reshape the banking sector through advanced digital solutions that deliver real value and provide high-efficiency financial and technology services. It provides scalable, End-to-End digital platforms that connect financial and non-financial sectors, driving sustainable growth and exceptional digital transformation.

The Money 20/20 Middle East takes place in Riyadh from 15 to 17 September, bringing together more than 450 global and regional fintech brands and over 1,050 investors from around the globe.

Co-organized by Fintech Saudi and Tahaluf, the conference addresses key topics shaping the future of the financial sector, including artificial intelligence (AI) in financial services, open banking and open finance, instant payments, and data governance and regulations.

With the theme “Where Money Does Business,” Money20/20 Middle East features dedicated partnership pavilions, executive networking lounges, and curated meeting programs to maximize ROI for sponsors and exhibitors.

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Riyadh - Sharikat Mubasher: Smart Mobility, a joint venture between Saudi-based Saleh Suleiman Alrajhi & Sons and FIT Hon Teng, officially broke ground on its new EV charger manufacturing facility at King Salman Energy Park (SPARK) in Dammam.The ceremony was attended by Mishal Al-Zughaibi, CEO of SPARK, Fahad Nawaf, CEO of Smart Mobility, and Sidney Lu, Chairman of FIT, according to an official statement.The 9,490-square-meter facility is scheduled for completion in the third quarter (Q3) of 2026 and will begin production in Q4, after finishing all required verification processes. The plant is expected to accelerate the Kingdom’s journey toward localized production of EV charging infrastructure.Smart Mobility also installed its high-quality chargers, serving as the park’s first EV charging station. This milestone demonstrates its technological capabilities and underscores its role as a key enabler in the transformation of the energy park.In his opening remarks, Al-Zughaibi emphasized SPARK’s commitment to becoming a leading hub for advanced energy and industrial technologies in the Middle East. “Located close to Saudi Arabia’s core energy infrastructure, SPARK offers a mature logistics ecosystem and proximity to Arabian Gulf ports. In the future, it will also connect to the GCC railway network, positioning it as a strategically important base for regional manufacturing, exports, and energy technology innovation,” he said.Meanwhile, FIT Chairman stated that the establishment of the Saudi factory represents not just a manufacturing site for FIT, but a long-term commitment to the Kingdom’s industrial development. "The creation of Smart Mobility and today’s groundbreaking ceremony are built on mutual trust and collaboration with joint-venture partner Saleh Suleiman Alrajhi & Sons. They also reflect CEO Prince Fahad’s clear strategic vision and steadfast leadership, which have been crucial in bringing the project to fruition."The Smart Mobility plant will produce multiple EV charging hardware models, supported by a Charging Point Management System (CPMS) that has undergone more than six months of field testing in Saudi Arabia. Together, these developments will strengthen the Kingdom’s local supply chain and support deployments across public and commercial sectors.Moreover, Smart Mobility announced that three EV charging products have received SASO certification, and its CPMS is expected to begin commercial operation in the first half of 2026.

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