BNPL company KadiPay receives SAMA permit, boosting Saudi fintech

This decision by the Saudi Central Bank brings the total number of companies authorized to practice BNPL activity in the Kingdom to six. KadiPay.
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Updated 19 October 2023
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BNPL company KadiPay receives SAMA permit, boosting Saudi fintech

RIYADH: Saudi fintech startup KadiPay has obtained a permit from the Kingdom’s central bank to provide buy-now-pay-later solutions.

This decision by the Saudi Central Bank brings the total number of companies authorized to practice BNPL activity in the Kingdom to six.  

It also increases the number of licensed and authorized financing companies to 56, reflecting SAMA’s ongoing endeavor to support post-paid companies.

In alignment with Vision 2030 goals outlined in the National Fintech Strategy, the Kingdom aims to have 525 such companies, which will create 18,000 jobs and generate SR13.3 billion ($3.56 billion) in direct gross domestic product contributions.  

To achieve these objectives, SAMA is focused on fostering innovation within the financial sector and enhancing inclusion and accessibility across the Kingdom.

SAMA’s annual fintech report has set significant milestones for 2025, including the presence of 230 such companies and an influx of SR2.6 billion in venture capital investments.

“KadiPay’s team of seven people was able to obtain a permit from the Central Bank to practice postpaid activity and also help set the rules of activity in the sector. We are optimistic about the FinTech Strategy 2030 and the opportunities it holds to enhance the growth of the sector,” a statement released by KadiPay stated.

UAE-based Tabby, a leading player in the BNPL space, also received its license from SAMA earlier this year. The company, which holds a $666 million valuation, announced its intent to move its headquarters to Saudi Arabia.

The bank also provided licensing to BNPL company Tamara in July, allowing it to provide consumer finance through its platform.

This comes after SAMA’s report revealed that total assets held by the financial technology sector grew to SR6.8 billion in 2022 from SR6.5 billion the previous year.

In March, Saudi Venture Capital announced its intent to further boost this sector by dedicating $80 million to its “Investment in Fintech VC Fund” in hopes of stimulating financing for startups and small and medium enterprises.

This strategic decision to invest in the flourishing fintech scene is expected to further develop the ecosystem, which raised $239 million in funding in 2022, according to venture data firm MAGNiTT.


Qatar property transactions reach $177m in late December 

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Qatar property transactions reach $177m in late December 

JEDDAH: Qatar’s real estate transactions exceeded 657 million Qatari riyals ($177.4 million) in the week ended Dec. 25, underscoring steady property market activity. 

Data from Qatar’s Ministry of Justice showed that trading across Doha and other municipalities remained elevated, with residential unit sales recorded at 49.4 million riyals during the period, according to the Real Estate Registration Department. 

The figure marks a sharp increase from the previous week, when total real estate transactions reached about 463 million riyals. That earlier period included sales contracts worth 354.26 million riyals and residential unit transactions totaling 108.76 million riyals, the Qatar News Agency reported. 

Qatar’s weekly trading mirrors broader activity across the Gulf region, where major markets such as Dubai and Abu Dhabi have reported strong sales and stable prices, supported by robust residential and commercial demand. 

The weekly activity highlighted sustained investor confidence, reflecting the broader Gulf-wide trend in real estate heading into 2026. 

“The weekly bulletin issued by the department stated that the properties traded included vacant land, houses, residential buildings, residential complexes, commercial shops, commercial and residential buildings, a commercial and administrative building, and residential units,” the QNA report stated.  

Qatar property sales were concentrated in the municipalities of Al-Rayyan, Doha, Al-Wakrah, and Umm Slal, in addition to Al-Daayen, Al Khor, as well as Al Thakhira, and Al-Shamal. They also included key areas including The Pearl Island, and Al-Kharayej, along with Lusail 69, Al-Wukair, Ghar Thuaileb, and Al-Sakhama municipalities. 

The figures highlight sustained activity in Qatar’s real estate market, with a notable week-on-week increase in trading volumes as the year draws to a close. 

The weekly data align with a stronger performance earlier in the year. Qatar’s real estate sector showed resilience in the first half of 2025, supported by rising residential activity, steady office demand and growth in hospitality and retail, according to a September report by Knight Frank. 

Residential transaction values reached 9.23 billion riyals in the second quarter, up 114 percent year on year, led by Doha, Al Daayen and Al Wakrah. Apartment prices rose 3.5 percent to an average of 13,270 riyals per square meter, while villa prices edged lower. Land sales jumped 85 percent, and prime office rents in Lusail held steady at about 115 riyals per square meter. 

Qatar added 718 hotel rooms during the period, while retail assets maintained high occupancy levels, pointing to continued confidence among investors and consumers.