In a significant move to advance Saudi Arabia’s financial technology landscape, Abdul Latif Jameel Finance, a leading financial services company in the Kingdom, has signed a memorandum of understanding (MoU) with Singapore-based fintech giant Ant International. The partnership is set to explore new digital opportunities and deliver innovative financial services tailored for micro, small, and medium-sized enterprises (MSMEs) across Saudi Arabia.
A Strategic Push for Digital Transformation
A key focus of the collaboration will be the enhancement of Abdul Latif Jameel Finance’s digital infrastructure. By leveraging WorldFirst, Ant International’s comprehensive digital platform for cross-border payment and treasury services, the Saudi firm aims to modernize its systems across its diverse financial and consumer service offerings, driving efficiency and improving customer experience.
Expanding Global Reach for Saudi Merchants
The partnership will also work on developing robust cross-border payment solutions for local businesses. Through the integration of Alipay+, Ant International’s global mobile payment network, Saudi merchants will gain the ability to expand their reach both locally and internationally, tapping into a vast network of global customers and streamlining their transaction processes. Both companies also plan to explore opportunities in the growing field of embedded finance, combining Abdul Latif Jameel Finance’s deep market expertise with Ant International’s cutting-edge digital technologies.
Aligning with Vision 2030
This collaboration directly supports the goals of Saudi Arabia’s Vision 2030 by fostering a more dynamic and inclusive digital economy. Dr. Khalid Alsharif, CEO of Abdul Latif Jameel Finance, highlighted the strategic importance of the partnership.
“Our collaboration with Ant International represents an important step toward realizing our vision of enabling innovative and more inclusive financial solutions in Saudi Arabia,” said Dr. Alsharif. “As the fintech ecosystem continues to evolve, we remain committed to contributing to the advancement of the financial sector, in line with Vision 2030.”
Leiming Chen, Senior Vice President and Chief Sustainability Officer of Ant International, echoed this sentiment. “The MoU is another important step in Ant International’s journey to build cross-sector partnerships with regional industry leaders in supporting Saudi Arabia’s digital economy agenda.”
Clara Shi, CEO of WorldFirst, added, “Joining our innovative fintech capabilities with Abdul Latif Jameel Finance’s expertise and ecosystem, we look forward to contributing to regional trade and commerce as Saudi Arabia embraces an exciting digital transformation.”
About Abdul Latif Jameel Finance
Abdul Latif Jameel Finance is a prominent financial services company in Saudi Arabia, offering a wide range of Shari’a-compliant financing solutions to both individuals and businesses. The company is committed to driving financial inclusion and supporting economic growth within the Kingdom.
About Ant International
Headquartered in Singapore, Ant International is a global leader in digital payments and fintech, operating across Asia, Europe, the Middle East, and Latin America. Its major brands—Alipay+, Antom, WorldFirst, and Bettr—provide a suite of services including global wallet gateways, merchant payment solutions, and embedded finance. The company recently opened its first Middle East office in Riyadh and plans to integrate Alipay+ with Saudi Arabia’s national payment system, mada, in 2026.
Source: Startuprise
