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TechSci Research's report, "Saudi Arabia Digital Lending Market - Industry Size, Share, Trends, Competition, Forecast and Opportunities, 2018-2028F," projects notable growth in the Saudi Arabian Digital Lending market. The forecast period anticipates increased market expansion driven by the growing convenience offered by fintech companies, heightened ease of loan availability, and a surge in demand from the personal loan segment.

In 2022, Saudi Arabia's consumer lending exhibited growth in both gross lending and outstanding balances, reflecting a recovery from the COVID-19 pandemic. Despite economic challenges such as price increases and inflation, consumer lending continued its positive trend in 2021, spurred by the pandemic's impact on consumer behavior and spending. The FinTech Strategy Implementation Plan, introduced by the Financial Sector Development Program (FSDP), aims to position Saudi Arabia as a FinTech industry leader, with Riyadh as a global hub by 2025.

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Post the introduction of Payment Service Regulations (PSP) in January 2020, the Saudi Arabian Monetary Authority (SAMA) has been tasked with regulating the payments industry, fostering innovation in financial technology. The regulatory framework aligns with European PSP regulations, simplifying the entry of businesses that have received European approval into the Kingdom.

The Saudi Arabia digital lending market is segmented into loan types, tenure periods, regional distribution, and competitive landscapes. Personal loans dominate the market, driven by a remarkable 180% increase in individual loans in 2022. 

Leading market players operating in the Saudi Arabia Digital Lending Market are:

• Uniint

• Lendo Inc.

• Raqamyah Platform

• Tamwel Aloulah Company

• Foras Crowdfunding Company

• Platform Company Ltd Tameed Financing

• Abdul Latif Jameel IPR Company Limited

• Tamam

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In terms of regional share, the Eastern region is poised to dominate the market, aligning with the country's Vision 2030 initiatives, rapid urbanization, industrialization, and infrastructure development. The Central Awamiyah project, focusing on tourism, civil, cultural, and artistic development, is expected to boost local demand for digital lending.

Government investments in construction, SAMA's support for Fintech companies, and widespread internet usage contribute to the digital lending market's growth in Saudi Arabia. With 95.7% of the population having internet access, online platforms are well-positioned to support market expansion.

"Saudi Arabia Digital Lending Market by Loan Type (Personal Loan, Business Loan, Auto Loan, Others), By Tenure Period (Less than 5 Years, More Than 5 Years), By Region, Competition Forecast & Opportunities, 2028" analyzes the future growth potential of the Saudi Arabia digital lending market, providing statistics, information on market size, structure, and future growth. The report aims to provide cutting-edge market intelligence, aiding decision-makers in sound investment decisions, while identifying emerging trends, drivers, challenges, and opportunities in the Saudi Arabia digital lending market.

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