SBI Holdings, Inc today announced that it has invested, through its subsidiary, in Muhlah Zamaniyah for Finance, a Saudi fintech-enabled consumer microfinance company, as a lead investor alongside BIM Ventures.

Muhlah is a venture-studio spinoff from BIM Ventures, licensed by the Saudi Central Bank (SAMA). By operating a fintech-enabled consumer microfinance business that offers a fully digital experience, Muhlah aims to provide financial services and financial inclusion for various segments of society. The company’s services are Shariah-compliant and are subject to the review and supervision of the Shariah Committee.

SBI Holdings and BIM signed a Memorandum of Understanding (MoU) in May 2024 for a business partnership, including the joint establishment and management of an investment fund, supported by the Ministry of Investment of Saudi Arabia (MISA). This investment represents a concrete initiative building on the strategic partnership between BIM Ventures and SBI Holdings.

In Saudi Arabia, under the economic diversification policy, the enhancement of the financial sector and the promotion of financial inclusion are being advanced, with high expectations for the expansion of consumer finance services utilizing technology. Through this investment, SBI Holdings will further strengthen its cooperative relationship with BIM and promote the creation of business opportunities in the financial sector and the establishment of a medium-to-long-term business foundation in the country.