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Khazna Eyes New Growth Opportunities in Saudi Arabia’s Fintech Market

Khazna is expanding its presence in Saudi Arabia as part of a broader strategy to reach underserved customers and provide financial products tailored to their needs, building on the company’s experience in Egypt.

Omar Saleh, Co-Founder and Group CEO of Khazna, said the Saudi market offers significant opportunities as digital financial services continue to develop alongside the Kingdom’s digital transformation agenda under Saudi Vision 2030.

According to Saleh, the fintech sector in Saudi Arabia is moving beyond basic payment services toward a wider range of products, including credit, savings, insurance and wealth management. This shift is creating opportunities for fintech companies to develop solutions that better reflect customers’ financial circumstances.

He noted that Khazna’s experience in Egypt has shown that many workers, including freelancers and people with lower or irregular incomes, may have access to formal financial services but still lack products designed around their specific income patterns and financial needs.

Khazna currently offers services in Egypt that include salary advances, its Khazna card, bill-payment solutions and financial products developed through partnerships with employers and institutions.

Saleh stressed that the company does not intend to simply replicate its Egyptian business model in Saudi Arabia. Instead, Khazna plans to adapt its products to the Kingdom’s market dynamics, regulatory environment and customer requirements.

He also highlighted the importance of maintaining strong credit quality and effective risk management while expanding into new markets. Khazna’s partnerships with employers and institutions allow the company to access verified income information and use it as part of its financing and credit assessment processes.

Artificial intelligence is another area supporting Khazna’s expansion. Saleh explained that AI can help accelerate credit assessments, analyze customer data and identify patterns that may not be captured through traditional models. However, human oversight remains an important part of credit policies, risk management and exceptional cases.

Looking ahead, Khazna aims to develop a broader financial platform rather than focusing on a single financial product. Its long-term vision includes expanding across areas such as credit, savings, payments and other financial services based on customer needs in each market.

The company plans to strengthen its presence in Egypt and Saudi Arabia while exploring selected markets across the region, with a focus on sustainable growth and expanding access to formal financial services.