KARACHI: Alraedah Digital Solutions, a leading Saudi technology company, announced on Thursday it was entering into a strategic partnership with Pakistani fintech ABHI to launch “innovative” financial services in the Kingdom.
Alraedah Digital Solutions, the digital arm of Alraedah Digital Group, focuses on innovation and digital transformation to empower businesses and individuals through cutting-edge solutions in finance and technology.
ABHI is a Pakistani fintech company that provides innovative finance solutions to businesses and their employees. Last year, it was selected as one of the Future 100 companies of the United Arab Emirates.
Founded in 2021, ABHI has been serving customers in Pakistan, UAE, and Bangladesh through its credit-bridging products. These include Earned Wage Access, Invoice Factoring, SME Working Capital & Revenue Based Financing, and Payroll Solutions.
“Under the terms of the agreement, Alraedah will leverage ABHI’s robust capabilities to launch a set of innovative financial services in KSA,” the Saudi company said in a press release.
The statement said as per the terms of the agreement, ABHI will gain access to Alraedah’s knowledge and understanding of the local Saudi market. This would enable it to collaboratively launch innovative financing products in Saudi Arabia.
“Alraedah will enable access to $200 million over the course of three years to develop products that apply ABHI’s proprietary technology, localized for the Saudi market,” the press release said.
The Pakistani fintech says it has a client base of over 1,000 esteemed companies and actively promotes financial empowerment and provides stability to over 750,000 employees across the region.
“With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, embolden the private sector, and foster a more vibrant, thriving economy,” Omair Ansari, co-founder and CEO of ABHI, was quoted as saying.
Paul Melotto, CEO of Alraedah Digital Solutions, said both companies aim to redefine access to financial services and empower individuals and businesses across the region.
“Together, we aim to redefine access to financial services and empower individuals and businesses across the region,” he said.
Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom
https://arab.news/pnj97
Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom
- ABHI, which also serves customers in UAE, was selected as one of Gulf country’s Future 100 companies last year
- Saudi tech company says partnership to empower Kingdom’s citizens, embolden private sector and foster economic growth
At ECO meeting, Pakistan proposes ‘Regional Innovation Hub’ to curb natural disasters
- Pakistan hosts high-level 10th ECO Ministerial Meeting on Disaster Risk Reduction in Islamabad
- Innovation hub to focus on early warning technologies, risk informed infrastructure planning
ISLAMABAD: Pakistan has proposed to set up a “Regional Innovation Hub on Disaster Risk Reduction” that focuses on early warning technologies and risk informed infrastructure planning, the Press Information Department (PID) said on Wednesday, as Islamabad hosts a high-level meeting of the Economic Cooperation Organization (ECO).
The ECO’s 10th Ministerial Meeting on Disaster Risk Reduction (DRR) is being held from Jan. 21-22 at the headquarters of the National Disaster Management Authority (NDMA) in Pakistan’s capital.
The high-level regional forum brings together ministers, and senior officials from ECO member states, representatives of the ECO Secretariat and regional and international partner organizations. The event is aimed to strengthen collective efforts toward enhancing disaster resilience across the ECO region, the PID said.
“Key agenda items include regional cooperation on early warning systems, disaster risk information management, landslide hazard zoning, inclusive disaster preparedness initiatives, and Pakistan’s proposal to establish a Regional Innovation Hub on Disaster Risk Reduction, focusing on early warning technologies, satellite data utilization, and risk-informed infrastructure planning,” the statement said.
The meeting was attended by delegations from ECO member states including Pakistan, Türkiye, Azerbaijan, Iran, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Representatives of regional and international organizations and development partners were also in attendance.
Discussions focused on enhancing regional coordination, harmonizing disaster risk reduction frameworks, and strengthening collective preparedness against transboundary and climate-induced hazards impacting the ECO region, the PID said.
ECO members states such as Pakistan, Türkiye, Afghanistan and others have faced natural calamities such as floods and earthquakes in recent years that have killed tens of thousands of people.
Heavy rains triggered catastrophic floods in Pakistan in 2022 and 2025 that killed thousands of people and caused damages to critical infrastructure, inflicting losses worth billions of dollars.
Islamabad has since then called on regional countries to join hands to cooperate to avert future climate disasters and promote early warning systems to avoid calamities in future.
