Riyadh - Exclusive Sharikat Mubasher: The total value of finance provided to individuals and enterprises in Saudi Arabia amounts to SAR 1.5 trillion (around $400 billion), according to Waleed Talat, Chief Executive Officer of Arib, the Saudi digital brokerage company.
Speaking to Sharikat Mubasher on the sidelines of Seamless Saudi Arabia 2024, Talat revealed that Arib plans to provide most of the financing products in the Kingdom within the next six months.
He added that the company’s regional expansion plan includes entering into new markets in the GCC region and North Africa during the third quarter (Q3) of 2025.
Talat clarified that Arib started its operations in the Kingdom six years ago as a digital brokerage platform licensed by the Saudi Central Bank (SAMA) to provide all kinds of financing products, including personal financing, auto financing, real estate financing, and more.
Arib helps customers obtain the best financing offer from approved financing institutions based on their credit status and financial solvency. It was ranked among the top 20 startup companies in Saudi Arabia, according to the Misk Entrepreneurship Accelerator Report for 2022.
Seamless Saudi Arabia 2024 takes place in Riyadh from 22 to 24 October, bringing together industry leaders, decision-makers, SMEs, startups, and government representatives from around the world.
It provides in-depth discussions covering a wide range of subjects, from digital banking to the integration of technology in retail environments.
