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Quara Finance has officially integrated its financing services into the Mobily Pay platform following regulatory approval from the Saudi Central Bank (SAMA) and a successful pilot phase. This strategic partnership with Etihad Digital Financial Co. allows Mobily Pay users in Saudi Arabia to access Sharia-compliant digital financing products directly through the app, offering faster and more flexible lending options.
While Quara Finance expects the deal to positively influence its future financial metrics, the exact quantitative impact will depend on user transaction volumes and product demand over the coming quarters. The collaboration aligns with Saudi Arabia's Financial Sector Development Program under Vision 2030, which aims to accelerate fintech adoption and digital banking infrastructure across the Kingdom.
Investors in Saudi equities should monitor Quara's upcoming quarterly financial statements to evaluate revenue growth driven by digital retail lending. Furthermore, this launch highlights the growing competition and integration between traditional non-banking financial institutions and telecommunication-backed e-wallets in the MENA region.
