Saudi Finance Company Partners With Ant International on Digital Services
Saudi Finance Company Partners With Ant International on Digital Services
Abdul Latif Jameel Finance signed a memorandum of understanding with Ant International to explore opportunities in financial technology, marking another step in Saudi Arabia’s digital transformation agenda.
The collaboration targets growth for micro, small and medium enterprises through advanced digital services. Both parties plan to work on diversified digital financial services for businesses and consumers across the Kingdom.
The partnership encompasses several initiatives. WorldFirst, Ant International’s cross-border payment and treasury account service, will support Abdul Latif Jameel Finance’s digitization strategy for its financial and consumer businesses. The companies will collaborate on cross-border payment solutions leveraging Alipay+, Ant International’s mobile wallet gateway, to support local and international expansion of customers in Abdul Latif Jameel Finance’s merchant network.
Additional opportunities in embedded finance using Ant International’s digital technologies form part of the agreement.
Alignment With National Vision
Dr. Khalid Alsharif, CEO of Abdul Latif Jameel Finance, framed the partnership within broader economic objectives. “Our collaboration with Ant International represents an important step toward realizing our vision of enabling innovative and more inclusive financial solutions in Saudi Arabia,” he said. “As the fintech ecosystem continues to evolve, we remain committed to contributing to the advancement of the financial sector, in line with Vision 2030.”
Ant International, headquartered in Singapore with operations across Asia, Europe, the Middle East and Latin America, provides global wallet gateway, merchant payment services, unified global account services and embedded finance through brands including Alipay+, Antom, WorldFirst and Bettr.
In 2025, Ant International opened its first Middle East office in Riyadh. The company will integrate Alipay+ with Saudi Arabia’s national payment scheme, mada, in 2026.
Leiming Chen, senior vice president and chief sustainability officer of Ant International, characterized the agreement as advancing Saudi Arabia’s digital economy agenda through cross-sector partnerships with regional industry leaders.
Clara Shi, CEO of WorldFirst, expressed the company’s commitment. “WorldFirst and Ant International are honored to support the mission of Abdul Latif Jameel Finance to provide diversified financial and digital services for MSMEs in the Middle East,” she said. “Joining our innovative fintech capabilities with Abdul Latif Jameel Finance’s expertise and ecosystem, we look forward to contributing to regional trade and commerce as Saudi Arabia embraces an exciting digital transformation.”
Family Legacy in Financial Services
Abdul Latif Jameel Finance operates as a regulated entity under the Saudi Central Bank. The company traces its roots to the 1960s when the late Abdul Latif Jameel pioneered installment-based sales for Toyota vehicles, recognizing the personal and economic freedom offered by transportation access.
This early innovation in consumer finance led to the formal establishment of Abdul Latif Jameel Finance in 1979. Today, the company has celebrated surpassing SR 3.5 billion in microfinancing through its Bab Rizq Jameel Microfinance product, which has provided funding to over 283,000 beneficiaries across Saudi Arabia since 2004.
Mohammed Jameel, chairman of Abdul Latif Jameel and founder of Community Jameel, continues the family’s tradition of supporting entrepreneurship and economic opportunity. The Abdul Latif Jameel business employs over 11,000 people from more than 80 nationalities across operations in more than 35 countries on six continents.
The memorandum of understanding with Ant International aims to leverage Abdul Latif Jameel Finance’s reach in the Kingdom combined with Ant International’s digital technologies to better serve Saudi Arabia’s retail and MSME customers.
Financial inclusion initiatives form part of broader efforts by the Jameel family to unlock potential for people across backgrounds. These activities parallel philanthropic work through Community Jameel, which advances science and learning to help communities thrive in areas including climate change, health and education.
The collaboration comes as Saudi Arabia accelerates efforts to diversify its economy and expand digital infrastructure. Financial technology partnerships like this agreement support objectives outlined in Vision 2030 for fostering innovation and creating opportunities for small and medium enterprises.
Abdul Latif Jameel Finance holds the distinction of offering the first microfinance product licensed by the Saudi Central Bank in its category, demonstrating a history of innovation in the Kingdom’s financial sector.
Saudi Finance Company Partners With Ant International on Digital Services Abdul Latif Jameel Finance signed a memorandum of understanding with Ant International to explore opportunities in financial technology, marking another step in Saudi Arabia’s digital transformation agenda. The collaboration targets growth for micro, small and medium enterprises through advanced digital services. Both parties plan to…