Aljazira Bank has signed an agreement with cross border payments network Thunes to modernise and widen its international remittance services, giving the Saudi lender’s retail customers faster ways to send money abroad. The announcement was made in Riyadh on September 28, 2026.
Under the partnership, Aljazira will use Thunes’ Direct Global Network to add new payout options and destinations to its remittance service. Retail customers will be able to send funds in real time to bank accounts and mobile wallets around the world, with Thunes pointing to high volume routes across Asia Pacific, Europe and the Gulf Cooperation Council (GCC) as key areas of coverage.
The deal adds to Thunes’ growing presence in Saudi Arabia, where it works with established, regulated local institutions to meet rising demand as the Kingdom builds up its digital finance sector under Vision 2030. Research carried out by Thunes with Juniper Research found that 56% of Saudi residents had sent money abroad in the previous year, placing the country among the most active cross border payment markets in the world.
Fahad Almutairi, Head of Retail Digital Banking and Payments at Aljazira Bank, said: “At Aljazira Bank, our focus is on providing our customers with world-class financial services that are fast, secure, and convenient. Leveraging Thunes’ trusted Direct Global Network will enable us to upgrade our cross-border payment capabilities significantly. With the growth of new payment innovation and soaring international popularity of mobile wallets, we are prioritizing our customers’ unprecedented access and faster account transfers across key international corridors.”
Aljazira Bank: What It Means
Ahmad Yaacoub, VP MENA and Country Head for Kingdom of Saudi Arabia at Thunes, said: “We are honored to be chosen by Aljazira Bank, a cornerstone of Saudi Arabia’s banking sector. This agreement reflects the deep trust that established financial institutions place in Thunes to support their digital strategy. Together, we are connecting the Kingdom to the world, transforming how millions of people send money home. It’s a seamless experience that empowers the Kingdom’s essential migrant workforce and fuels the broader KSA economy,” stated Yaacoub.
For customers, and especially the many workers in Saudi Arabia who send part of their earnings to families abroad, faster transfers and the option to pay directly into mobile wallets could make a real difference, since for many families a wallet is easier to use than a bank account. For Aljazira, the partnership offers a way to strengthen a heavily used service without having to build a global payout network of its own.
Digital Trade Outlook: What stands out is the model, with an established Saudi bank extending its remittance reach through a specialist payout network rather than building those connections itself. With Thunes already working with other Saudi institutions, banks in the Kingdom are increasingly drawing on the same underlying reach, which means the real contest for remittance customers is likely to shift to price, speed and how easy the service is to use.
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