SBI Holdings invests in consumer microfinance company Muhlah

SBI Holdings, Inc. announced a strategic investment, via a subsidiary, as lead investor in Muhlah Zamaniyah for Finance. The Saudi fintech-enabled consumer microfinance company is a spinoff from BIM Ventures.

Muhlah operates a fully digital microfinance business licensed by the Saudi Central Bank (SAMA). The company aims to provide Shariah-compliant financial services and promote inclusion across societal segments, under the supervision of a Shariah Committee.

This investment concretizes a strategic partnership following an MoU signed by SBI Holdings and BIM Ventures in May 2024. The agreement, supported by Saudi Arabia's Ministry of Investment (MISA), included plans for a jointly managed investment fund.

The move aligns with Saudi Arabia's economic diversification, which prioritizes financial sector enhancement and inclusion. SBI Holdings stated the investment will strengthen its partnership with BIM, create new business opportunities, and establish a medium-to-long-term foundation in the country's financial sector.