Riyadh – Sharikat Mubasher: Saudi Arabia emerged as the leading country globally, ranking first among the most conducive ecosystems for the development of Islamic financial technology, according to the ‘Global Islamic Fintech Report 2025/26’ by DinarStandard and Elipses.

The index assesses more than 60 markets based on key criteria, including regulatory frameworks, digital infrastructure, talent availability, market maturity, and access to capital. Saudi Arabia’s top position reflects continued progress in building a robust environment for Shariah-compliant digital finance, supported by regulatory clarity, public-sector initiatives, and growing private-sector participation.

The Kingdom also ranked among the top 10 countries globally by Islamic fintech transaction volume, alongside Malaysia, the UAE, Indonesia, Kuwait, Türkiye, Bangladesh, Pakistan, Qatar, and Iran. The report estimates that global Islamic fintech transaction volumes reached $198 billion in 2024/25 and are projected to grow to $341 billion by 2029, driven by expanding adoption of digital payments, Islamic digital banking, and Shariah-compliant investment platforms.

Saudi Arabia’s leadership is underpinned by advancements in digital financial infrastructure, experimentation with asset tokenization and digital ownership frameworks, and increased integration of emerging technologies such as blockchain and artificial intelligence within Islamic finance. These developments align with broader economic diversification goals under Vision 2030 and position the Kingdom as a central hub for the next phase of Islamic fintech growth.

The report notes that as digital assets, tokenized real-world assets, and on-chain sukuk structures gain traction, markets with strong regulatory and institutional foundations—such as Saudi Arabia—are likely to capture a growing share of future Islamic fintech activity.