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Saudi Arabian Fintech Hakbah Partners With Tawuniya Insurance

The duo plans to revolutionize financial savings in the Kingdom while revealing an extensive life insurance coverage plan for Hakbah members.

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saudi arabian fintech hakbah partners with tawuniya insurance
Hakbah

Saudi fintech savings platform Hakbah has announced a revolutionary partnership with national insurance company Tawuniya at 24Fintech in Riyadh.

The strategic alliance will shake up the financial savings landscape in Saudi Arabia and address a significant gap in the market by offering Hakbah customers comprehensive life insurance during their Jameya time.

Key benefits will include:

  • Extensive insurance coverage, including Death of Any Cause (DAC) to Passive War Risk (PWR).
  • Enhanced financial security that lets customers focus on saving without worry.
  • Alignment with Saudi Arabia’s Vision 2030 to support the government’s goal of boosting savings rates and promoting financial inclusion.

hakbah founder naid abusaida and mohammed bin salma of tawuniya

Hakbah founder Naif AbuSaida has expressed his enthusiasm for the collaboration, stating:

“We are thrilled to partner with Tawuniya to provide our customers with unparalleled financial security through life insurance coverage for all Hakbah’s members during the Jameya duration. Hakbah prides itself on its unyielding commitment to savings, driven by cutting-edge savings-engine technology. We look forward to exploring more collaboration with Tawuniya to benefit our customers and unleash the full potential of increased financial savings”.

Mohammed Bin Salma, Senior Executive Director for Life Sector of Tawuniya, added:

“The new partnership with Hakbah builds on Tawuniya’s commitment to promoting a culture of financial savings in the Kingdom, especially among the youth segment that constitutes the majority of the country’s population. Tawuniya […] will expand its reach to new horizons and cater to a broader customer base. By offering insured products, Tawuniya empowers individuals across every segment to embrace a positive savings culture”.

Also Read: Workplace Study Reveals Middle Eastern AI Use Is Skyrocketing

With around 70% of Saudi citizens requiring more emergency savings and household savings rates averaging just 1.6%, Hakbah hopes to make a lasting impact on this $20.5 billion market. The company is growing rapidly and has already exceeded its total revenue for 2023 in the first half of 2024. With a user base of 750,000+ and strategic partnerships with Riyad Bank, Fransi Bank, ANB, flynas, and Tawuniya, Hakbah is now extremely well-positioned to continue its impressive growth.

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Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

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syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI

The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.

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