The aim of the investment is to boost competitiveness in the small and medium enterprise finance market while also improving financial inclusion, creating jobs, and supporting the nation's climate goals. 

With the new licensee, there are now six authorized companies offering consumer microfinance solutions in Saudi Arabia.

The world's first Iris-enabled payment platform and a leading provider of innovative Government digital services collaborate for more efficient, inclusive and trusted distribution social protection payments.

Saudi Venture Capital Company, in partnership with the Capital Market Authority and the Financial Sector Development Program has launched a new product designed to support the growth of the fintech industry in Saudi Arabia.

The investment in the nation's recovering financial sector is part of a wider SME strategy, which aims to help spur a greater range of financial products and services such as psychometric scoring solutions and payment systems reforms.

The credit aims to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal's green, resilient, and inclusive development.

This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time.

Up to 77 percent of consumers in the Kingdom spending more money online since the onset of the pandemic.

At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate.

As per revised unified directives, banks and financial institutions can also contribute the fund to protect and treat their employees.