Riyadh – Sharikat Mubasher: Emkan Finance Co. and Tamweel Aloula, two Saudi fintech firms, are preparing to go public on Tadawul, aiming to capitalize on the Kingdom’s growing demand for digital financial services, as reported by Bloomberg.

Emkan Finance, a subsidiary of Al Rajhi Bank, has appointed Morgan Stanley and Al Rajhi Capital as advisors for its planned initial public offering. The company offers personal loans and credit cards and reported a net income of SAR 887 million ($236 million) in 2024.

Tamweel Aloula, which provides financing solutions to individuals and businesses, is also preparing for a share sale after posting a profit of SAR 181 million last year.

The listings come amid Saudi Arabia’s push to diversify its economy and expand financial inclusion under Vision 2030. If completed, Emkan and Tamweel Aloula would join a growing group of fintech firms tapping local capital markets, as consumer demand for installment-based payments rises.