Purchase-headquartered Mastercard (NYSE:MA) has signed an exclusive agreement with the Saudi Arabian fintech Alhulul Almobassatah Financial Company (SiFi) focused on providing financial solutions to small and medium-sized enterprises (SME) within the kingdom.
Under the terms of the agreement, SiFi will issue Mastercard-branded corporate cards across Saudi Arabia while providing solutions for managing expenses, providing real-time expense tracking capabilities, and automating accounting entries.
“As Saudi Arabia’s SME space continues to grow, it is our responsibility to effect more positive change, serving as the partner of choice to fuel that growth,” said Adam Jones, country general manager, MENA Central, for Mastercard, who added the company was “committed to working closely with partners to co-create solutions and offer access to our technology and expertise. Our agreement with SiFi is fully geared towards achieving this goal.”
Photo: Ahmed Alhakbani, founder and CEO of SiFi, signing the new agreement with Mastercard’s Adam Jones, country general manager, MENA Central. Photo courtesy of Mastercard.
