IAMAI signs 3-year MoU with Saudi Arabia to strengthen fintech, startup ecosystems

The Internet and Mobile Association of India (IAMAI) and the Ministry of Investment of the Kingdom of Saudi Arabia (MISA) have signed a Memorandum of Understanding (MoU) to deepen cooperation between the fintech, startup and investment ecosystems of India and Saudi Arabia.

The agreement was signed at the Global Fintech Fest 2026 (GFF 2026) in Mumbai by Dr Abdullah Ali Aldubaikhi, Assistant Minister for Business Development, Ministry of Investment, Kingdom of Saudi Arabia, and Dr Subho Ray, President, IAMAI.

The three-year framework aims to create a structured bridge between the two countries’ innovation ecosystems by connecting fintech companies, startups, investors, financial institutions and other stakeholders.

READ THIS: 'India's fintech story has been amazing... A big champion of this is UPI': PM Modi

Fintech and startup collaboration

Under the agreement, IAMAI and MISA will explore cooperation in fintech ecosystem development, startup collaboration, investment promotion, innovation, market access and cross-border ecosystem engagement.

The partnership will focus particularly on identifying and enabling opportunities for high-potential fintech companies and startups from both markets. Planned areas of cooperation include curated business introductions, investor-startup matchmaking, market-access initiatives, business expansion opportunities, strategic partnerships, delegations, roundtables, workshops and knowledge-exchange programmes.

The MoU also provides for collaboration through major international fintech and startup platforms, allowing engagement to continue beyond individual events.

DON'T MISS: 'When India grows 7.8%, world sees fresh hope': PM Modi's big message amid global uncertainty

Saudi Arabia seeks stronger India partnership

Dr Abdullah Ali Aldubaikhi said the agreement would help translate the growing economic and strategic engagement between the two countries into practical opportunities.

“Saudi Arabia is building a globally connected investment and innovation ecosystem, and India is an important partner with significant strengths in technology, entrepreneurship and digital financial services. Through this cooperation with IAMAI, we look forward to strengthening connections between our two ecosystems and creating practical opportunities for companies, startups and investors. The objective is to translate these connections into investment, market access, strategic partnerships and long-term collaboration between Saudi Arabia and India.”

IAMAI eyes India-Saudi fintech corridor

Dr Subho Ray said India and Saudi Arabia have significant potential to build deeper links between their companies, investors and innovation ecosystems.

“India and Saudi Arabia are among the world's most dynamic digital and entrepreneurial economies, and there is significant potential to create deeper connections between our companies, startups, investors and innovation ecosystems. This MoU gives us an institutional framework to move beyond individual engagements towards a sustained India–Saudi fintech and startup corridor. Our focus will be on creating tangible pathways for market access, investment, partnerships and business expansion for high-potential companies from both countries.”

ALSO READ: Maharashtra plans framework to create India’s first land asset tokenisation system

From agreement to action

Following the signing, the two organisations will explore India-Saudi fintech and startup delegations, market-access programmes, investor-startup matchmaking, identification of high-potential fintech companies, stakeholder introductions and investment-promotion initiatives.

The programme could also include strategic partnerships, innovation collaborations, roundtables, workshops, ecosystem dialogues, knowledge exchange on fintech and digital finance, research and thought-leadership initiatives, and participation in international fintech and startup platforms.