Riyadh, Saudi Arabia, 23 July 2025:
Saudi Arabia’s Hakbah was named one of the ‘World’s Top Fintechs in 2025’ by CNBC for the company’s growth track record, increase in savings among underbanked, and social impact using AI to modernize and digitize social savings in a way that helps build, enable and empower a new fully inclusive Saudi savings culture.
The Hakbah app and digital platform was designed to make it fast, easy and safe for residents to participate in and benefit from Jameya group savings programs, a traditional and culturally important practice that helps individuals and families increase savings habits as well as answer short special needs.
Hakbah, which is permitted by the Saudi Central Bank (SAMA) and operates within the Regulatory Sandbox, has surpassed more than 1.3 million registered users with more than 70 percent coming from a youth population that needs assistance building positive savings habits.
Hakbah customers have reported using the fintech app to enable them to save for life-changing needs for themselves and their families that they previously couldn’t afford.
This includes things like paying for critical medical care, fertility treatments to start a family, wedding expenses, travel expense, university tuition and small projects.
Naif AbuSaida, Hakbah Founder, said that bringing the social savings concept into the AI and digital age creates a far more practical and applicable new social savings culture while preserving the core purpose and cultural heritage of the social savings practice.
He said that while supporting short financial needs, Hakbah helps build new savings habits among its users that have long-term benefit for them and their families while contributing to the financial stability of communities across the country.
Naif AbuSaida said: “We greatly appreciate that such a highly respected international business organization like CNBC is recognizing the unique model we’ve created that marries the power of social savings and the Jameya concept to make a real and lasting impact on people’s lives.
What’s equally important is that this is a validation of the Saudi Arabia and SAMA strategy to promote the creation of an ecosystem across the national financial community that encourages collaboration and partnership to help increase savings across all segments of the population as a high priority strategic goal in alignment with Saudi Vision 2030.”
Hakbah has established a range of strategic partnerships under this national vision with organizations including Riyad Bank, Fransi Bank, ANB, Alrajhi Bank, flynas and Tawuniya, the country’s leading national insurance company that supports Hakbah users by providing life insurance throughout the term of their Jameya.
About Hakbah
Hakbah is a Saudi Fintech enhancing financial wellness across the Kingdom of Saudi Arabia, directly supporting the ambitions of Saudi Vision 2030 and the Financial Sector Development Program (FSDP).
We empower individuals, including the underbanked, to foster healthier financial habits, particularly in strengthening savings behaviours, through intuitive digital tools.
By promoting comprehensive financial inclusion, addressing the gender gap in financial well-being, and fostering resilience, Hakbah contributes significantly to building the financially secure society envisioned by national programs while aligning with key UN Sustainable Development Goals.
Since it’s launch in late 2020, Hakbah has raised more than $9 million and has been recognized as one of the fastest growing Fintech startups in the MENA region.
While the country boats a $20.5 billion traditional group savings market, the average Saudi household savings rate is just 1.6% with 70 percent of citizens lacking emergency savings, resulting in significant opportunity for growth under the country’s Financial Sector Development program.
In addition to being fully licensed by SAMA, Hakbah is supported by the Digital Government Authority, Monsha’at, The National technology Development Programme and Saudi Fintech.
To learn more about Hakbah, Click here.
About CNBC’s ‘World’s Top Fintech Companies: 2025’
CNBC worked in partnership with Statista to conduct an in-depth analysis of a range of performance indicators of more than 2,000 eligible companies.
CNBC analysed and recognized companies working across seven Fintech categories, including Alternative Financing, Digital Assets, Enterprise Fintech, Insurtech, Neobanking, Payments and Wealth Technology.
Hakbah was the only Saudi Arabian company that made the CNBC list of global Fintech leaders and one of only four Middle East companies.
Hakbah was recognized in the Wealth Technology category which includes companies offering digital products across the wealth management ecosystem, including personal finance and money management as well as online training, investment management and portfolio optimization.
Read More:
OmniOps launches Bunyan, Saudi Arabia’s first inference as a service platform
Saudi Arabia’s first embedded insurance platform Yasmina secures $2mln Seed investment
SDAIA Signs an MoU with AMD to Boost Saudi Arabia`s AI Ecosystem
