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
Pakistan condemns Sudan attack that killed Bangladeshi UN peacekeepers, calls it war crime
- Six peacekeepers were killed in a drone strike in Kadugli as fighting between Sudan’s army and the RSF grinds on
- Pakistan, a major troop contributor to the UN, says perpetrators of the attack must be identified, brought to justice
ISLAMABAD: Pakistan on Sunday extended condolences to the government and people of Bangladesh after six United Nations peacekeepers from the country were killed in a drone strike in southern Sudan, condemning the attack and describing it as a war crime.
The attack took place amid a full-scale internal conflict that erupted in April 2023 between the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF), a powerful paramilitary group, following a power struggle after the collapse of Sudan’s post-Bashir political transition.
Omar Al-Bashir, who ruled Sudan for nearly three decades, was ousted by the military in 2019 after months of mass protests, but efforts to transition to civilian rule later faltered, plunging the country back into violence that has since spread nationwide.
The drone strike hit a logistics base of the United Nations Interim Security Force for Abyei (UNISFA) in Kadugli, the capital of South Kordofan state, on Saturday, killing the Bangladeshi peacekeepers. Sudan’s army blamed the RSF for the attack, though there was no immediate public claim of responsibility.
“Pakistan strongly condemns the attack on @UNISFA in Kadugli, resulting in the tragic loss of 6 Bangladeshi peacekeepers & injuries to several others,” the country’s permanent mission to the UN said in a social media message. “We honor their supreme sacrifice in the service of peace, and express our deepest condolences to the government and people of #Bangladesh.”
“Such heinous attacks on UN peacekeepers amount to war crimes,” it added. “Perpetrators of this horrific attack must be identified and brought to justice. As a major troop-contributing country, we stand in complete solidarity with all Blue Helmets serving the cause of peace in the perilous conditions worldwide.”
According to Pakistan’s UN mission in July, the country has deployed more than 235,000 peacekeepers to 48 UN missions across four continents over the past eight decades.
Pakistan also hosts one of the UN’s oldest peacekeeping operations, the United Nations Military Observer Group in India and Pakistan (UNMOGIP), and is a founding member of the UN Peacebuilding Commission.
More than 180 Pakistani peacekeepers have lost their lives while serving under the UN flag.
Pakistan and Bangladesh have also been working in recent months to ease decades of strained ties rooted in the events of 1971, when Bangladesh — formerly part of Pakistan — became independent following a bloody war.
Relations have begun to shift following the ouster of former Bangladeshi prime minister Sheikh Hasina last year amid mass protests.
Hasina later fled to India, Pakistan’s neighbor and arch-rival, creating space for Islamabad and Dhaka to rebuild their relationship.
