Riyadh - Sharikat Mubasher: Manafa, the Saudi financing and investment solutions provider, and the financial technology platform Mudad signed a memorandum of understanding (MoU) to provide innovative financing solutions.
The MoU was signed on the sidelines of the Global Labor Market Conference (GLMC).
As per this agreement, both parties aim to provide enterprises with financing solutions to pay salaries on due dates, attract national talents, and empower them to fulfill their commitments.
Mudad was launched in 2020 as a financial technology platform with an effective partnership with General Organization for Social Insurance (GOSI) and Takamol Holding Company.
It aims to improve and develop the administrative and financial processes specialized in paying, protecting, and processing employees' wages, under the supervision of the Saudi Central Bank (SAMA).
The GLMC took place in Riyadh with the main goal of exploring the latest evidence and best-practice learnings on solutions to address labor market challenges. In addition, it targeted identifying advanced skill-building initiatives for workers of all generations and backgrounds.
