Tawuniya and Hakbah Join Forces to Provide Life Insurance for Savings Customers in Saudi Arabia

Saudi fintech platform Hakbah has partnered with The Company for Cooperative Insurance (Tawuniya) to enhance financial savings in the Kingdom. Announced during the 24th Fintech Conference in Riyadh, this collaboration will provide Hakbah's customers with comprehensive life insurance coverage during their savings cycle, known as Jameya.

This partnership supports Saudi Vision 2030's objectives of boosting savings rates and promoting financial inclusion. Naif Abu Saida, Founder of Hakbah, emphasized that the alliance aligns with the company's mission to empower individuals and foster positive economic change in Saudi Arabia. He also expressed optimism about further collaboration with Tawuniya.

Mohammed bin Salma, Senior Executive Director for Tawuniya’s Life Sector, highlighted that the partnership reflects Tawuniya’s commitment to encouraging a culture of financial savings, particularly among the country's youth, who make up the majority of the population.

Source: Mubasher