Pakistani fintech companies are increasingly turning their focus towards Saudi Arabia, capitalizing on the Kingdom’s Vision 2030 digital transformation agenda and the renewed momentum in bilateral relations driven by strategic and defence partnerships. This shift marks a significant step for Pakistan’s IT sector, which is positioning itself to become a key regional player across the Gulf
Speaking at the opening session of the 26th ITCN Asia in Karachi, Federal Minister for IT and Telecommunication Shaza Fatima Khawaja emphasized the potential of Pakistan’s technology industry to play a greater role in the Kingdom of Saudi Arabia (KSA). She highlighted that Pakistan’s IT sector is working to evolve as a regional hub and data transshipment center serving China, Central Asia, and beyond, while also building stronger commercial ties with Riyadh.
The global fintech event Money 20/20, held recently in Riyadh, provided an important platform for Pakistani firms to showcase their solutions. A delegation of 15 Pakistani fintech companies participated, signing several business agreements and joint ventures with firms from across the region. This participation not only highlighted the growing capabilities of Pakistan’s fintech industry but also cemented its ambition to secure a long-term foothold in the Gulf market.
Fahad Sajjad, CEO of the Pakistan Fintech Network (PFN), noted that the country’s fintech enterprises are proving themselves capable of competing on an international stage. He said the Riyadh event served as a launchpad for Pakistani firms to attract investment, expand their Gulf operations, and enhance their global credibility.
One notable collaboration announced during the event was between ABHI, a Pakistani-origin fintech with operations in the Middle East and North Africa, and TRAY, a cloud-based point-of-sale and business management platform in Saudi Arabia. Their partnership will introduce Earned Wage Access solutions to the Kingdom’s fast-growing food and beverage sector. ABHI’s CEO and Co-founder, Omair Ansari, said the integration with TRAY will not only help improve workforce retention in Saudi Arabia’s hospitality industry but also advance financial inclusion in line with Vision 2030’s objectives.
Beyond fintech showcases, bilateral cooperation between Pakistan and Saudi Arabia has been steadily expanding. In recent years, the Kingdom has introduced a series of initiatives to encourage Pakistani companies to register and operate in the Saudi market. The Ministry of Investment of Saudi Arabia (MISA) has even set up a dedicated help desk, simplifying the registration process. This facilitation has already resulted in over 100 Pakistani technology entities establishing themselves in the Kingdom.
Analysts view this development as a strategic move at a time when Gulf nations are ramping up their investments in digital transformation. Ibrahim Amin, a banking and financial expert, described Pakistani participation at Money 20/20 as a calculated approach that positioned local fintech firms alongside global leaders such as Mastercard, Visa, and Stripe.
Saad Shah, CEO of Hexalyze, stressed the importance of Saudi Arabia as an emerging hub for technology-driven industries. He pointed to the opportunities in megaprojects like NEOM and said the Saudi market provides a more accessible entry point for Pakistani IT and fintech firms compared to other regions. He also noted that the presence of a large Pakistani workforce and cultural proximity make the Kingdom an attractive destination for expansion.
The momentum of Pakistani fintechs in Saudi Arabia underscores a broader trend: Pakistan’s IT and financial technology sector is no longer confined to domestic growth but is actively seeking a regional and global role. With Vision 2030 driving massive digital reforms in KSA, and with bilateral ties at their strongest in recent years, Pakistani fintech companies find themselves at the right place at the right time to scale their innovations and play a pivotal role in the region’s financial inclusion journey.
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