“They [the regulations] are not bank-led, they are more fintech-led, which means that fintechs can operate in isolation from banks, so they don’t need to be partnered with banks, they can really operate freely. That’s a major move that doesn’t happen with a lot of regulators around the region.”
–Maher Loubieh, the chief strategy officer at Riyadh-based Hala, discussing the growth of fintech in Saudi Arabia. Nesma Abdel Azim takes a close look at the fintech scene in the Kingdom, its successes, and challenges. [Wamda]
