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Exploring Public Awareness and Perceptions of Islamic FinTech in Saudi Arabia under Vision 2030
Arnaout, Marya
Arnaout, Marya
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This research focuses on the perception and use of Islamic FinTech among residents of Saudi
Arabia and on the role these services play in enabling ethical, accessible financial participation
under Vision 2030. With the rapid expansion of digital wallets, alongside interest-free installment
services and Shariah-compliant financing platforms, Islamic FinTech is now an essential part of
the Kingdom's digital financial landscape. Using a quantitative method, data were gathered from
42 respondents to determine levels of awareness and usage behavior, levels of trust in compliance
with Shariah, and the challenges users face. The results indicate a high level of reliance on Islamic
digital payment tools and a rising acceptance of interest-free BNPL services, both of which can be
attributed to convenience and to users observing that the services align with their religious values.
Still, challenges such as technical problems, uncertainty over Shariah terms, and privacy and
security concerns have continued to plague adoption. The research underscores the need for better
communication, improved user support, and digital safeguards to ensure the inclusive and
responsible use of Islamic FinTech. Overall, the results demonstrate that Islamic FinTech
contributes in a meaningful way to promoting financial inclusion while supporting the Kingdom's
shift to a secure and ethical digital economy.
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Attribution-NonCommercial-NoDerivatives 4.0 International