IAMAI, Saudi Arabia sign MoU to boost India-Saudi fintech, startup ties

The Internet and Mobile Association of India (IAMAI) and Saudi Arabia’s Ministry of Investment (MISA) have signed a three-year Memorandum of Understanding (MoU) to strengthen collaboration between the two countries’ fintech, startup and investment ecosystems.

The agreement was signed by Abdullah Ali Aldubaikhi, Assistant Minister for Business Development at MISA, and Subho Ray, president of IAMAI, on the sidelines of the Global Fintech Fest 2026 in Mumbai.

Under the partnership, the two organisations will work on initiatives covering fintech development, startup collaboration, investment promotion, innovation and market access. The framework is aimed at creating opportunities for companies, investors, financial institutions and other ecosystem participants to engage across both markets.

The collaboration may include investor-startup matchmaking, curated business introductions, market-entry programmes, business delegations, roundtables, workshops and knowledge-sharing initiatives. IAMAI and MISA also plan to identify high-potential fintech and startup companies that could benefit from expansion, investment or strategic partnerships in the respective markets.

Abdullah Ali Aldubaikhi said the partnership with IAMAI would help strengthen links between India and Saudi Arabia’s technology and innovation ecosystems, with a focus on investment opportunities, market access and long-term business partnerships.

Subho Ray said the MoU provides an institutional framework to develop a sustained India-Saudi fintech and startup corridor, moving beyond individual engagements towards deeper opportunities in investment, partnerships, market access and business expansion.

The partnership will also cover research, thought-leadership initiatives and participation in international fintech and startup platforms. The MoU will initially remain valid for three years and can be renewed through mutual agreement.