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Saudi fintech signs deals with local companies to reduce cost on SMEs

Saudi fintech signs deals with local companies to reduce cost on SMEs

Saudi fintech signs deals with local companies to reduce cost on SMEs

Image: File

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RIYADH: Saudi fintech, Thiqah, a business services company, and Emdha, an IT firm, have signed 2 initial agreements, to empower small and medium-sized fintech companies in the kingdom, through reducing the cost of services, Arab News quoted a tweet, as saying.

The agreements were signed under the patronage of the Digital Government Authority and Saudi central bank.

Saudi Arabia witnessed a 37 per cent rise in the number of fintech firms entering the market this year and also recorded an increase in venture capital investments that exceeded SR680 million ($181 million).

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