Mambu and Ta3meed Partner to Provide Digital Islamic Fintech Services

Mambu, a pure SaaS banking platform based in the United Kingdom has partnered with Saudi-based Islamic fintech Ta3meed, to deliver digital Islamic financing solutions for Small and Medium Enterprises (SMEs), as well as investors in the region.

According to both companies, Mambu’s core banking technology will combine with Ta3meed’s automated Purchase Order (PO) Financing Platform to accelerate the digital transformation of financial institutions together with Sharia-compliant financing and investment solutions in Saudi Arabia.

Saudi Arabia has been transforming into an innovative fintech hub and the fintech market in Saudi Arabia is expected to reach transaction values of over USD 33 billion by 2023, according to media reports. In 2018, the Saudi Central Ba...