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Money20/20 Middle East returns to Riyadh as global fintech leaders gather to shape the Future of finance. The three-day event in Saudi Arabia will be hosted by Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA) and Insurance Authority (IA) Get the hottest Fintech Middle East News once a month in your Inbox Money20/20 Middle East, the region's home for the global money ecosystem, will return to Riyadh from 14-16 September 2026, bringing together regulators, financial institutions, fintech innovators, investors and technology leaders. Hosted by the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA) and Insurance Authority (IA), and co-organised by Tahaluf and Fintech Saudi, the 2026 edition has already announced an initial line-up of globally recognised speakers and confirmed support from leading organisations across the financial services ecosystem, setting the stage for another landmark edition in Riyadh. Money20/20 Middle East returns to Riyadh as Saudi Arabia continues to strengthen its position as one of the world's fastest-growing fintech markets. The 2026 edition is expected to welcome more than 38,000 attendees, alongside 350 exhibiting brands, 350+ speakers, 600+ investors and 150 startups. Bringing together regulators, financial institutions, fintech innovators, investors and technology leaders from around the world, the event will provide a platform to explore the trends, technologies, regulations and partnerships shaping the future of financial services, while reinforcing Riyadh's position as a global hub for fintech innovation. The 2026 edition will feature an initial line-up of globally recognised speakers, including Ryan Rugg, Global Head of Digital Assets TTS at Citi; Mostapha Tahiri, Chief Operating Officer at State Street; Tony Ashraf, Managing Director at BlackRock; Joy Adams, Chief Operating Officer, Digital Assets Transformation, Corporate Bank at Deutsche Bank; and Hosam Arab, Co-Founder and CEO of Tabby, with additional speakers to be announced in the lead-up to the event. Reflecting strong support from across the financial services ecosystem, Visa and Tamara have been confirmed as the Founding Partners for Money20/20 Middle East 2026, alongside Strategic Sponsors BARQ, ELM, Tiqmo and Arab National Bank. The event is further supported by Platinum Sponsors Foodics, Hakbah, Gulf International Bank, Safqah Capital and Al Rajhi Takaful, with additional partners and sponsors to be announced in the lead-up to the event. Taking place at the Riyadh Exhibition & Convention Centre in Malham, the 2026 edition will bring together global leaders to explore the trends redefining financial services across six key content pillars: The Future Financial Architecture, Trust by Design, Autonomous Finance, Empowered Finance, The Next Era of Payments, and The Future of Capital. Through keynote discussions, executive forums and closed-door leadership sessions, the event will bring together policymakers, financial institutions, investors and technology leaders to explore the opportunities shaping the next era of global finance. Across The Executive Summit, NextGen Money, The Bridge, The Capital Stage, The Boardroom, Off The Record and MoneyPot, industry leaders will exchange ideas and shape the future of global finance. Annabelle Mander, Executive Vice President at Tahaluf, added: "Money20/20 Middle East has redefined what a fintech event can achieve. This is where regulators, financial institutions, investors and innovators come together to build partnerships and shape the future of financial services. As fintech momentum continues to build, Riyadh has become a key meeting point for the global fintech community, creating the connections and conversations that will define the next chapter of finance." Registration for Money20/20 Middle East 2026 is now open. For more information, visit www.money2020middleeast.com.

Tamara and Tabby: The 'buy now, pay later' sector continues its shift to profitability in Saudi Arabia Results for the first quarter of 2026 reveal a divergent maturity phase among the leading 'buy now, pay later' companies, with Tamara jumping to exceptional profitability driven by its entry into Islamic finance, while Tabby maintains its measured growth amid rising structural cost pressures. Tamara and Tabby, the leading flexible payment platform operators in the Gulf region, posted combined profits of about 191.5 million Saudi riyals ($51.1 million) during the first quarter of 2026, indicating a fundamental transformation in the BNPL sector towards financial sustainability, albeit at two different paces. Tamara: Exceptional leap reshapes the landscape Tamara for Financial Solutions achieved a net profit of 123.4 million riyals ($32.9 million) in the first quarter of 2026, compared to 25.8 million riyals ($6.9 million) in the same period last year, a growth of 378% year-on-year. The bulk of this leap is attributed to the company's entry into Islamic finance activity, which contributed 182.1 million riyals ($48.6 million) during the quarter, compared to nothing in the comparable period, as the company only started this activity in the first half of 2025. Secondary support came from merchant network revenues, which rose to 421.1 million riyals ($112.3 million) from 178.9 million riyals ($47.7 million), while customer processing fees almost doubled to 52.1 million riyals ($13.9 million) from 27.3 million riyals ($7.3 million). Consequently, net finance and investment commission income increased by about 298% to 440.6 million riyals ($117.5 million). However, this rapid expansion directly impacted the cost structure; total operating costs jumped to 395.9 million riyals ($105.6 million) from 94.1 million riyals ($25.1 million), driven by an expected credit loss allowance of 166.9 million riyals ($44.5 million) compared to a reversal of 11.2 million riyals ($3.0 million) in the prior period - reflecting a 157% year-on-year growth in the financing portfolio. Processing and service costs also rose by 133% to 141.6 million riyals ($37.8 million), and financing costs increased by 96% to 87.3 million riyals ($23.3 million). Structurally, Tamara announced a notable shift in its balance sheet: after accumulated losses represented about 39% of capital at the end of the first quarter of 2025, the company moved to positive retained earnings of 91.2 million riyals ($24.3 million) by the end of March 2026. Concurrently, the book value per share rose from 7.34 riyals ($1.96) to 13.24 riyals ($3.53), a growth of nearly 80%, while shareholders' equity reached 681.7 million riyals ($181.8 million) compared to 377.8 million riyals ($100.7 million) a year earlier. Tamara remains unlisted on the stock market for now, but the company is considering an initial public offering (IPO), according to previous reports, a path similar to what is anticipated for its competitor Tabby. Tabby: Quiet growth and structural pressures In contrast, Tabby for Financial Solutions recorded a net profit of 68.1 million riyals ($18.2 million) in the first quarter of 2026, up from 65.2 million riyals ($17.4 million) in the same period of 2025, a growth rate of 4.4%. This modest growth stands out against the significant expansion in operating revenues; fee and commission income rose 33.6% to 426.7 million riyals ($113.8 million) from 319.4 million riyals ($85.2 million), and net finance and investment commission income specifically increased 36.9% to 193.5 million riyals ($51.6 million) from 141.3 million riyals ($37.7 million). Merchant network revenues also rose to 354.5 million riyals ($94.5 million) from 298.5 million riyals ($79.6 million), and customer fees soared to 68.1 million riyals ($18.2 million) from just 18.1 million riyals ($4.8 million). However, the expansion of internal operational base consumed a large portion of these gains; general and administrative expenses sharply increased to 68.2 million riyals ($18.2 million) from 24.8 million riyals ($6.6 million), due to absorbing information technology and customer support functions that were previously managed through related companies - though this process simultaneously reduced franchise fees paid to related companies from 26.4 million riyals ($7.0 million) to 24.6 million riyals ($6.6 million). Additionally, expected credit loss allowances rose to 47.9 million riyals ($12.8 million) from 18.4 million riyals ($4.9 million), following the growth in the financing portfolio, which reached a balance of 3.66 billion riyals ($976 million) at the end of March 2026 compared to 3.18 billion riyals ($848 million) at the end of 2025, while total gross receivables rose to 3.92 billion riyals ($1.05 billion). Tabby's results draw attention to a key note in the independent auditor's report: the company's net debt exceeded the maximum limit set by the Saudi Central Bank (SAMA) by 519.9 million riyals ($138.6 million), reaching 2.58 billion riyals ($688 million) compared to an approved ceiling of 2.06 billion riyals ($549.3 million). The company indicated it is in the process of obtaining approvals to raise this ceiling, without specifying a timeline. Tabby's shareholders'equity also rose to 708.1 million riyals ($188.8 million) from 498.6 million riyals ($133.0 million), and the book value per share to 23.6 riyals ($6.3) from 16.62 riyals ($4.4). Institutionally, Tabby for Financial Solutions is a wholly owned Saudi subsidiary of Tabby SPV Limited, registered in the UAE, which in turn is owned by Tabby Inc., registered in the Cayman Islands, heading towards a potential public offering on the Saudi stock market. Five key facts * Tamara achieved a net profit of 123.4 million riyals ($32.9 million) in the first quarter of 2026, a 378% annual increase, largely driven by Islamic finance income of 182.1 million riyals ($48.6 million) - an activity that did not exist in the comparable period. * Tabby recorded a net profit of 68.1 million riyals ($18.2 million), growing only 4.4%, despite a 36.9% rise in net finance and investment commission income, as rising structural costs ate up most of the gains. * Tamara moved from accumulated losses equivalent to 39% of capital (March 2025) to positive retained earnings of 91.2 million riyals ($24.3 million) (March 2026), with book value per share growing by nearly 80%. * Tabby's net debt exceeds SAMA's regulatory ceiling by 519.9 million riyals ($138.6 million), and the company is seeking approval to raise it with no announced timeline. * Tamara's financing portfolio grew by 157% annually, necessitating a large expected credit loss allowance of 166.9 million riyals ($44.5 million), compared to a reversal of 11.2 million riyals ($3.0 million) in the same period of 2025.