Malaa is a Saudi Arabian fintech company founded in 2021 that operates a personal wealth management app for individuals. The app lets users track expenses, budget, and build personalised investment portfolios and financial plans. It is built on open banking, artificial intelligence and automated investment strategies; Malaa describes its product as Saudi Arabia's first open banking offering. The company is based in the King Abdullah Financial District in Riyadh.
The platform serves over 640,000 users. Beyond tracking and saving, it provides Shari'ah-compliant investment portfolios spanning different risk tolerances and financial goals, all reviewed by the Shariyah Review Bureau, and it calculates and pays Zakat on behalf of users automatically.
Malaa is authorised by SAMA (the Saudi Central Bank) and the Saudi Capital Market Authority, which places engineering work within a regulated, compliance-oriented environment. Technical domains of relevance include open banking, artificial intelligence, automated investment strategies and personal finance technology, alongside Islamic finance requirements.
The company states a mission of making personal finance smarter, simpler and more empowering, and describes an automation-first, technology-driven approach to building financial products.
