Best Financial Services Companies in Arab Countries: What They Offer & Why You Need Them

The Arab world is no longer just an oil-fueled economy — it has quietly become one of the fastest-growing financial technology hubs on the planet. From Riyadh to Dubai, Cairo to Kuwait City, a new generation of financial services companies has emerged, blending cutting-edge technology with a deep understanding of regional consumer needs, Islamic finance principles, and a hunger for financial inclusion.

Whether you are a first-time shopper looking for a flexible way to pay for purchases, a business owner seeking digital payment tools, or an individual wanting full-service banking, this guide covers the most recommended and trusted financial services companies operating in Arab countries — what they offer, what real customers say about them, and exactly why each one deserves your attention.

Section 1

Types of Financial Services in Arab Countries

🏦

Retail Banking

Savings accounts, current accounts, debit/credit cards, loans, and mortgages for individuals.

📲

Buy Now, Pay Later (BNPL)

Split purchases into 4 interest-free installments online or in-store.

🌙

Islamic Finance

Shariah-compliant products with no interest (riba), including Murabaha and Ijara structures.

💳

Digital Wallets

Mobile-first payment apps for sending, receiving, and managing money instantly.

📊

Investment & Wealth

Portfolio management, brokerage services, and private banking for high-net-worth individuals.

🏪

Merchant & SME Solutions

Payment gateways, POS terminals, corporate cards, and business financing.

🌍

Remittance & FX

Cross-border money transfers and foreign exchange services for expats and businesses.

🛡️

Insurance (Takaful)

Islamic insurance products for health, life, and assets, operated on a mutual risk-sharing model.

Company 1

Tabby

Tby

Tabby — The Most Valuable Fintech in MENA

The region’s most trusted Buy Now, Pay Later and financial super-app platform

🇸🇦 Saudi Arabia · 🇦🇪 UAE · 🇰🇼 KuwaitBNPL · Digital WalletFounded 2019Valuation $3.3B

Founded in 2019 by Hosam Arab and Daniil Barkalov, Tabby started with a single insight: the Middle East has enormous spending power but very low credit card penetration — around 15% in Saudi Arabia and 10% across the broader GCC. Tabby filled this gap by offering consumers a transparent, interest-free way to split purchases into installments that align fully with Shariah financial values. By 2025, Tabby had grown to over 15 million users, 40,000 merchant partners, and $10 billion in annual transaction volume, making it the most valuable fintech company in MENA at a $3.3 billion valuation.

What sets Tabby apart is its evolution from a simple payment tool into a full financial super-app. Today, Tabby is not just about “pay later” — it is an entire ecosystem that includes a physical Visa card, subscription benefits, a shopping discovery platform, and buyer protection insurance. All products are built with Islamic finance principles at their core.

Products & Services Offered by Tabby

✂️

Split in 4

Split any purchase into 4 equal interest-free payments billed monthly, at zero extra cost.

📅

Pay Later (1 Month)

Buy now and pay the full amount in one deferred payment after 30 days, no fees.

💳

Tabby Card

A physical Visa card that lets you use Tabby’s BNPL at any point-of-sale terminal globally.

⭐

Tabby Plus

Paid subscription for higher spending limits, exclusive discounts, and premium payment flexibility.

🛍️

Tabby Shop

In-app discovery of thousands of brands and stores with price tracking and deal alerts.

🛡️

Tabby Care

Buyer protection program that safeguards purchases from fraud, damage, or non-delivery.

Office Locations

Riyadh, Saudi Arabia (HQ)Dubai, UAEKuwait City, Kuwait

Customer Ratings

Ease of Use

4.5

Shariah Compliance

4.8

Customer Support

4.2

Product Variety

4.4

Real Customer Reviews

★★★★★

“Using Tabby has been life-changing. I can now shop from over 40,000 stores and split my payments without paying any interest. The app is clean, fast, and everything just works. The Tabby Card was an incredible addition — I can use it anywhere Visa is accepted.”

Fatima A. — Riyadh, Saudi Arabia

★★★★★

“As someone who avoids traditional credit cards for religious reasons, Tabby gave me the financial flexibility I always wanted without compromising my values. The fact that they removed all late fees in Saudi Arabia shows they genuinely understand their customers.”

Mohammed K. — Jeddah, Saudi Arabia

★★★★☆

“I’ve been using Tabby for over two years in Dubai and it’s become my default payment method for online shopping. The price tracking feature in the Tabby Shop app saved me hundreds of dirhams. Highly recommend subscribing to Tabby Plus if you shop frequently.”

Sara J. — Dubai, UAE

Why Choose Tabby?

• ✓100% Shariah-compliant — zero interest, and in Saudi Arabia, zero late fees. Tabby’s model is fully merchant-funded, meaning you never pay more than the product’s original price.
• ✓Regulated and licensed by SAMA (Saudi Central Bank) and the UAE Central Bank, giving you full consumer protection.
• ✓The largest merchant network in MENA — 40,000+ brands including SHEIN, Noon, Zara, H&M, IKEA, and thousands of small businesses.
• ✓The Tabby Visa Card allows you to use BNPL anywhere in the world — not just at partner merchants, removing the single biggest limitation of BNPL platforms.
• ✓Backed by world-class investors and audited by Ernst & Young, with a reported net profit of $55 million in 2025, proving sustainable financial health.

Company 2

Tamara

Tmr

Tamara — Saudi Arabia’s First Homegrown Fintech Unicorn

The pioneering BNPL platform that grew from the heart of Riyadh to reshape GCC commerce

🇸🇦 Saudi Arabia · 🇦🇪 UAE · 🇰🇼 KuwaitBNPL · Consumer FinanceFounded 2020Unicorn — $1B+

Tamara was founded in 2020 during the COVID-19 pandemic by Saudi entrepreneur Abdulmajeed Alsukhan and his partners, with a bold vision: to solve one of the most frustrating problems in Saudi Arabian e-commerce — the dominance of cash-on-delivery and the lack of flexible, Shariah-compliant payment options. Within three years, Tamara had become Saudi Arabia’s first homegrown fintech unicorn, raising $340 million in a Series C round that valued it at over $1 billion.

In March 2025, Tamara became the first fintech startup in Saudi Arabia to receive a full consumer finance license from SAMA, covering both BNPL and broader consumer finance activities. This milestone unlocks an entirely new product category: personal loans, consumer credit lines, and savings products, positioning Tamara to compete directly with traditional banks while maintaining its Shariah-compliant DNA. Tamara has also secured a landmark $2.4 billion asset-backed facility from Goldman Sachs, Citi, and Apollo funds.

Products & Services Offered by Tamara

✂️

Pay in 3

Split purchases into 3 installments over 2 months, interest-free and zero hidden fees.

📅

Pay in 6

Extend larger purchases over 6 monthly installments — ideal for electronics and furniture.

💳

Tamara Card (Mastercard)

A virtual and physical Mastercard allowing BNPL at any merchant in the UAE and KSA.

🏦

Consumer Finance

Full consumer credit products following SAMA licensing — loans, credit lines, and more.

🛒

Shopping Platform

Discover and shop across thousands of local and international brands directly in the app.

🤝

Merchant Tools

Checkout integration, conversion analytics, and payment APIs for SMEs and large retailers.

Office Locations

Riyadh, Saudi Arabia (HQ)Dubai, UAECairo, EgyptBerlin, GermanyHo Chi Minh City, Vietnam

Customer Ratings

App Experience

4.4

Merchant Coverage

4.5

Approval Speed

4.6

Trust & Security

4.7

Real Customer Reviews

★★★★★

“Tamara has made shopping so much smarter for me. I use the Pay in 3 option regularly and have never paid a single riyal in interest. It’s incredibly reassuring to know this is backed by the Saudi Central Bank — I feel completely safe.”

Noura S. — Dammam, Saudi Arabia

★★★★★

“The Tamara Mastercard changed everything for me. Now I can use BNPL at any store, not just ones that integrate Tamara. This is what every BNPL customer actually wants. The approval was instant and the app interface is very clean and professional.”

Ahmad R. — Abu Dhabi, UAE

★★★★☆

“As a small business owner, Tamara has noticeably increased my conversion rate. My customers love having the option to pay in installments. Integration with my store was straightforward and their merchant support team was responsive and helpful.”

Khalid M. — Riyadh, Saudi Arabia

Why Choose Tamara?

• ✓The only fintech in Saudi Arabia to hold a full SAMA consumer finance license, allowing it to offer personal credit products beyond BNPL.
• ✓Backed by Saudi Arabia’s sovereign wealth fund (PIF) through Sanabil Investments — making it one of the most politically and financially secure fintechs in the region.
• ✓Partners with Amazon, SHEIN, Jarir, IKEA, Noon, and tens of thousands of local SMEs, giving you BNPL access at virtually every major retailer in the GCC.
• ✓Fully Shariah-compliant products that align with Islamic finance principles — trusted by Saudi consumers who are cautious about interest-based financing.
• ✓Rapid approval in seconds with no hidden fees, no credit score checks for small purchases, and a transparent payment schedule visible in-app at all times.

Company 3

Emirates NBD

NBD

Emirates NBD — The Middle East’s Best Bank

A full-service banking powerhouse with total assets surpassing AED 1 trillion in 2025

🇦🇪 UAE (HQ) · 13 CountriesRetail · Corporate · Islamic · Investment BankingFounded 1963Assets: $272B+

Emirates NBD is not just a bank — it is the financial backbone of the UAE and one of the most decorated banking institutions in the entire Middle East. Named the Middle East’s Best Bank by Euromoney for 2025, Emirates NBD holds a 21.9% share of total banking assets in the UAE and serves over 20 million customers across 13 countries. In 2025, the bank delivered a record AED 29.8 billion profit before tax, driven by 24% gross lending growth and a massive expansion into Saudi Arabia, India, and Egypt.

For consumers, Emirates NBD offers an unmatched breadth of financial products — from everyday current accounts and instant personal loans to sophisticated private banking and Islamic finance solutions through its subsidiary Emirates Islamic. Its digital banking platform is among the most advanced in the region, and its Emirates NBD Pay service enables merchants to accept payments across POS, e-commerce, and unattended kiosks from a single unified platform.

Products & Services Offered by Emirates NBD

🏦

Retail Banking

Current and savings accounts, debit/credit cards, personal loans, auto loans, and mortgages.

🌙

Islamic Banking

Full suite of Shariah-compliant products via Emirates Islamic — Murabaha, Ijara, and more.

💼

Private Banking

Personalized wealth management and investment advisory for high-net-worth individuals.

🏢

Corporate Banking

Trade finance, term loans, overdraft facilities, and cash management for businesses.

📊

Investment Banking

Capital markets, debt structuring, equity advisory, and asset management services.

📲

Digital Banking

Mobile and internet banking, Emirates NBD Pay POS, Smart Pass authentication, and digital account opening.

🌱

ESG / Sustainable Finance

The UAE’s first ESG-linked working capital loan, sustainable deposits, and green financing products.

🏛️

Banking-as-a-Service (BaaS)

Omnify platform providing embedded finance — cards-as-a-service and payments-as-a-service for corporates.

Office Locations

Dubai, UAE (HQ)Riyadh & Branches, KSACairo, EgyptIstanbul, TurkeyMumbai, IndiaSingaporeLondon, UKVienna, AustriaFrankfurt, GermanyManama, BahrainMoscow, Russia

Customer Ratings

Digital Experience

4.4

Product Breadth

4.8

Islamic Finance

4.5

Global Reach

4.7

Real Customer Reviews

★★★★★

“I’ve banked with Emirates NBD for 8 years and it truly is in a different class. The mobile app is intuitive, transfers are instant, and their private banking team genuinely understands my investment goals. Being able to bank in the UAE and then access my account in London seamlessly is invaluable.”

James T. — Dubai, UAE (British Expat)

★★★★★

“Emirates Islamic, their Shariah-compliant arm, offers everything I need — a home finance product on Ijara basis, a salary account, and a savings plan. The ESG-linked deposit was a new product I didn’t expect from a regional bank. Truly forward-thinking.”

Hind Al-M. — Abu Dhabi, UAE

★★★★☆

“As a small business in Dubai using Emirates NBD’s corporate account, their Trade Finance team helped us structure our first import deal from China efficiently. The relationship manager was experienced and accessible. Branch wait times can be long, but digital services compensate.”

Rami N. — Dubai, UAE

Why Choose Emirates NBD?

• ✓Named the Middle East’s Best Bank by Euromoney (2025) and the region’s leader in ESG finance — a reputation built over decades of consistent excellence.
• ✓Total assets surpassing AED 1 trillion in 2025, and a dominant 21.9% share of UAE banking assets — meaning your money is backed by the most financially robust institution in the region.
• ✓A truly international bank with presence in 13 countries, ideal for expats, frequent travelers, and businesses operating across borders.
• ✓The Acabes technology lab with 570 engineers drives continuous digital innovation, meaning the app and online banking improve constantly.
• ✓Offers both conventional and Islamic banking under one roof, meaning you can choose products that align with your personal or religious financial preferences.

Company 4

National Bank of Kuwait (NBK)

NBK

National Bank of Kuwait — The GCC’s Cornerstone of Financial Stability

Kuwait’s largest and most stable bank, pioneering digital banking through its youth-first subsidiary Weyay

🇰🇼 Kuwait (HQ) · UAE · Egypt · Saudi Arabia + moreRetail · Corporate · Islamic · Digital BankingFounded 1952Net Profit $1.9B (2025)

The National Bank of Kuwait (NBK), founded in 1952, holds the distinction of being the first bank established in Kuwait and one of the oldest in the entire Arab world. Over seven decades, it has grown into the most dominant financial institution in Kuwait and a major regional player, reporting a 2025 net profit of approximately $1.9 billion. Its stability and consistent profitability make it a fortress of security for depositors and borrowers alike.

NBK’s most exciting recent development is Weyay — Kuwait’s first fully digital bank, designed for the younger generation. Weyay delivers the security of NBK’s institutional backing with the slick, mobile-first interface that modern consumers expect. This dual strategy of legacy banking strength and digital-native innovation keeps NBK relevant for both older and younger demographics.

Products & Services Offered by NBK

📱

Weyay Digital Bank

Kuwait’s first digital-only bank — instant account opening, zero fees, modern UI built for Gen Z and millennials.

🏦

Retail Banking

Current, savings, and fixed-term deposits; personal and auto loans; credit and debit cards.

🌙

Boubyan Bank (Islamic)

Fully Shariah-compliant banking through its subsidiary Boubyan Bank — one of the GCC’s leading Islamic banks.

💼

Private Banking

High-end wealth management and tailored investment solutions for affluent clients.

🏢

Corporate & SME

Trade finance, working capital solutions, treasury services, and SME lending products.

🌍

International Banking

Cross-border transactions and banking services for Kuwaitis living or investing abroad.

Office Locations

Kuwait City, Kuwait (HQ)Dubai & Abu Dhabi, UAECairo, EgyptRiyadh, KSABahrainJordanIraqLondon, UKGeneva, SwitzerlandParis, FranceNew York, USASingapore

Why Choose NBK?

• ✓Seven decades of uninterrupted profitability — NBK has never posted an annual loss in its history, making it one of the safest places to hold your money in the Arab world.
• ✓Weyay bank targets tech-savvy youth with a seamless app experience that rivals global neobanks, while carrying the security of one of the region’s oldest institutions.
• ✓Through Boubyan Bank, NBK provides one of the GCC’s most comprehensive Islamic banking offerings — a full, standalone Shariah-compliant banking subsidiary.
• ✓Global presence in 12+ countries across four continents ensures that Kuwaiti nationals and expats can access NBK services wherever they live or invest.

Company 5

Fawry

Fry

Fawry — Egypt’s Largest E-Payment Platform

Serving the banked and unbanked population with Egypt’s most extensive digital payment network

🇪🇬 Egypt (HQ) · Saudi Arabia · UAEE-Payments · Digital Banking · Merchant SolutionsFounded 2008Publicly Listed — EGX

Fawry is Egypt’s answer to digital financial inclusion. Founded in 2008, Fawry has built the largest electronic payment network in Egypt, processing payments for millions of Egyptians who do not have access to traditional banking services. Unlike many fintechs that focus exclusively on smartphone users, Fawry reaches its customers through a network of hundreds of thousands of physical agents — kiosks, pharmacies, and supermarkets — allowing even Egyptians without smartphones or bank accounts to pay bills, top up mobile data, and receive money.

Fawry is listed on the Egyptian Exchange (EGX), making it one of the few Arab fintech companies that has reached the public markets. Its scale, reach, and deep penetration of Egypt’s informal economy make it indispensable for anyone living in or doing business with Egypt.

Products & Services Offered by Fawry

💸

Bill Payments

Pay electricity, water, gas, internet, and telecom bills at any Fawry agent or via the app.

📲

myFawry Wallet

A digital wallet for storing money, making purchases, transferring funds, and paying merchants.

🏪

Merchant Payments

POS solutions and payment gateway for physical and online stores to accept digital payments.

🏦

FawryPlus (Microfinance)

Micro-lending and consumer finance products designed for small businesses and individuals.

📦

Government Services

Pay taxes, traffic fines, court fees, and other government services through the Fawry network.

📡

Agent Network

300,000+ physical agent points in Egypt enable cash-based digital transactions for the unbanked.

Office Locations

Cairo, Egypt (HQ)Alexandria, EgyptRiyadh, Saudi ArabiaDubai, UAE

Why Choose Fawry?

• ✓Egypt’s most extensive payment network — over 300,000 agent points means you can always find a Fawry location near you, even in rural areas.
• ✓Works for the unbanked — you do not need a bank account or a smartphone to use many Fawry services, making it truly inclusive for all Egyptians.
• ✓Publicly listed on the Egyptian Exchange, providing full financial transparency and investor-grade accountability to its customers and stakeholders.
• ✓A single platform handles virtually all of your financial obligations — utility bills, government fees, mobile top-ups, and shopping payments in one place.

Summary

Side-by-Side Comparison

Company	Best For	Shariah-Compliant	BNPL	Full Banking	SME Tools	Available In
Tabby	Online shoppers wanting BNPL	✓ Yes	✓ Core product	✗	✓ Merchant API	UAE, KSA, Kuwait
Tamara	Saudi-first BNPL + consumer credit	✓ Yes	✓ Core product	✓ SAMA-licensed	✓ Merchant tools	KSA, UAE, Kuwait
Emirates NBD	Expats & full-service banking	✓ Via Emirates Islamic	✗	✓ Full service	✓ Corporate & SME	13 Countries
NBK	Kuwaiti nationals & GCC residents	✓ Via Boubyan Bank	✗	✓ Full service	✓ Corporate banking	Kuwait + 12 Countries
Fawry	Egypt-based payments & unbanked	N/A	✗	Partial (wallet)	✓ POS & gateway	Egypt, KSA, UAE

Which Financial Service Is Right for You?

If you shop frequently online and want zero-interest installment payments, start with Tabby or Tamara. If you need full-service banking with global reach, Emirates NBD is the gold standard. For Kuwait-based needs, NBK offers unmatched stability. For Egypt’s payment infrastructure, Fawry is irreplaceable.

FAQ

Frequently Asked Questions

Are these financial services compliant with Islamic finance (Shariah)?

Yes — the vast majority of financial products offered by Tabby, Tamara, Emirates Islamic (part of Emirates NBD), NBK’s Boubyan Bank, and most Arab fintech companies are structured to be fully Shariah-compliant. This means zero interest (riba), transparent fees, and risk-sharing rather than interest-based lending. In Saudi Arabia, Tabby removed all late fees entirely to maintain Shariah alignment.

Do I need a credit score or existing bank account to use Tabby or Tamara?

No formal credit score is required for most standard purchases. Both Tabby and Tamara use their own proprietary credit assessment algorithms that evaluate your spending behavior and repayment history within their platforms. For first-time users, a small initial limit is assigned and increased over time as trust builds.

Which company is best for expats living in the UAE?

Emirates NBD is the most suitable full-service bank for expats due to its international presence in 13 countries, multilingual support, and wide range of accounts designed for non-nationals. For payment flexibility, both Tabby and Tamara accept non-GCC nationals and operate seamlessly in the UAE.

Is it safe to use these digital financial services?

All of the companies listed in this guide are licensed and regulated by their respective central banks — SAMA (Saudi Central Bank), UAE Central Bank, Central Bank of Kuwait, and the Central Bank of Egypt. This regulatory oversight provides strong consumer protection, data security requirements, and dispute resolution mechanisms. All of the larger companies also employ international auditors (such as Ernst & Young for Tabby) to verify their financial statements.

Can I use Tabby or Tamara outside of the GCC?

The Tabby Visa Card and Tamara Mastercard can be used at any international merchant that accepts Visa or Mastercard — which means virtually anywhere in the world. However, the core BNPL split-payment feature is tied to merchants within the Saudi Arabia and UAE markets, and installment features may not activate for transactions outside the GCC.

What makes Arab financial services different from global ones like Klarna or PayPal?

The key differentiators are Shariah compliance, cultural alignment, and local regulatory integration. Companies like Tabby and Tamara are built from the ground up for the Middle Eastern consumer — with zero-interest models, no late fees in Saudi Arabia, Arabic language support, and licensing from regional central banks. Global BNPL players often struggle to adapt their interest-bearing models to the Islamic finance framework, giving local players a significant structural and trust advantage in this market.

✦ ✦ ✦

This article is written for informational purposes. All data is sourced from official company publications, regulatory announcements, and reputable financial news sources as of 2025–2026. Always verify directly with the financial institution before making financial decisions. Product availability and terms vary by country and may change.

© 2025 Arab Financial Services Guide · All Rights Reserved