Eight Pakistani Firms Showcase Innovations at 24 Fintech 2024 Exhibition in Riyadh

Pakistan's Ambassador to Saudi Arabia, Ahmad Farooq, attended the 24 Fintech 2024 exhibition in Riyadh on September 5, 2024, where eight leading Pakistani fintech companies showcased their innovations. The three-day event, held at the Riyadh Front Exhibition and Conference Center from September 3-5, aimed to position Pakistani fintech firms on the global stage.

According to a statement from the Pakistan Embassy in Riyadh, the exhibition provided key opportunities for these companies to engage with global industry leaders. Over 36,000 attendees, 300 brands, and more than 350 investors participated, making the event a valuable platform for growth and learning.

Several key players from Pakistan's fintech sector, including JazzCash, Easypaisa, PayPal, Finja, and Tez Financial Services, have emerged in recent years, focusing on digital payments, mobile wallets, and e-commerce. Despite these advancements, fintech adoption in Pakistan remains limited, with only 21% of the adult population engaged in the formal financial sector. Challenges such as limited talent and a strong reliance on cash hinder further growth.

The 24 Fintech 2024 exhibition aimed to celebrate the best in fintech, helping Pakistani companies expand their reach and knowledge while promoting their global presence.

Hosted by Saudi Arabia’s Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), and the Insurance Authority (IA), the event underscored the importance of cross-border collaboration in the fintech industry.