Business

Saudi National Bank (SNB), the Kingdom’s largest financial institution, has announced the upcoming launch of a first-of-its-kind Point-of-Sale (POS) lending solution for small and medium enterprises (SMEs). The platform is powered by Tarabut, a leading regulated fintech in the MENA region, and delivered through Geidea, one of Saudi Arabia’s top payment solutions providers. The initiative is subject to regulatory approvals from the Saudi Central Bank (SAMA).

Advancing Vision 2030 and financial inclusion

The partnership supports Saudi Arabia’s Vision 2030 and the Financial Sector Development Program by providing SMEs with faster, simpler, and more inclusive access to working capital. SMEs, which form the backbone of the Kingdom’s economy, will now benefit from instant financing integrated directly into the payment platforms they already use.

Mr. Saud Abdulaziz Bajbair, Retail Business Group Head at SNB, said:

“As the Kingdom’s national bank, SNB is committed to providing innovative solutions that empower SMEs. By integrating lending directly into the platforms that SMEs already use every day, we are making access to finance faster, simpler, and more inclusive. This initiative is a milestone in the Saudi financial sector and a significant step towards realising Vision 2030.”

Technology-driven SME lending

Tarabut provides the open banking intelligence layer enabling instant, tailored credit experiences within SME platforms. Founder and CEO Abdulla Almoayed commented:

“We are proud to be SNB’s technology partner in this landmark initiative. By bringing financing closer to the point of need, Tarabut enables digital lending for SMEs. Together with SNB and Geidea, we are delivering innovation at national scale, transforming SME finance in the Kingdom and directly advancing Vision 2030’s goals of financial inclusion and economic growth.”

Geidea, with a merchant network covering nearly one million POS terminals across the region, will integrate the financing solution into its payment ecosystem. Geidea Group CEO Omar Yassine said:

“With this partnership, we are bringing financing directly into the same platform our SME customers already use to manage and grow their businesses. This marks a natural evolution in our journey to drive SME growth and economic transformation across the Kingdom.”

The initial rollout will give SMEs direct access to SNB-powered financing through Tarabut’s technology without leaving their POS environment. By reducing barriers and wait times, the platform aims to bridge the Kingdom’s credit gap and strengthen entrepreneurship nationwide.

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