<div id="readability-page-1"><div><p>The Middle Eastern stock markets have recently experienced mixed movements, with the Saudi bourse seeing losses due to profit-taking while Qatar's index has edged higher, reflecting ongoing regional economic shifts. Despite their vintage feel, penny stocks remain a relevant investment area for those interested in smaller or newer companies. These stocks can offer affordability and potential growth when backed by strong financials, making them intriguing options for investors seeking under-the-radar opportunities.</p><h3>Top 10 Penny Stocks In The Middle East</h3><table><tbody><tr><td><strong>Name</strong></td><td><strong>Share Price</strong></td><td><strong>Market Cap</strong></td><td><strong>Rewards &amp; Risks</strong></td></tr><tr><td>Maharah for Human Resources (SASE:1831)</td><td>SAR4.71</td><td>SAR2.11B</td><td>✅ 2 ⚠️ 3 View Analysis &gt;</td></tr><tr><td>Thob Al Aseel (SASE:4012)</td><td>SAR3.69</td><td>SAR1.48B</td><td>✅ 2 ⚠️ 1 View Analysis &gt;</td></tr><tr><td>Alarum Technologies (TASE:ALAR)</td><td>₪4.835</td><td>₪344.3M</td><td>✅ 3 ⚠️ 1 View Analysis &gt;</td></tr><tr><td>E7 Group PJSC (ADX:E7)</td><td>AED1.04</td><td>AED2.1B</td><td>✅ 5 ⚠️ 3 View Analysis &gt;</td></tr><tr><td>Al Wathba National Insurance Company PJSC (ADX:AWNIC)</td><td>AED3.30</td><td>AED683.1M</td><td>✅ 2 ⚠️ 3 View Analysis &gt;</td></tr><tr><td>Dubai National Insurance &amp; Reinsurance (P.S.C.) (DFM:DNIR)</td><td>AED3.30</td><td>AED381.15M</td><td>✅ 2 ⚠️ 4 View Analysis &gt;</td></tr><tr><td>Dubai Investments PJSC (DFM:DIC)</td><td>AED3.08</td><td>AED13.05B</td><td>✅ 2 ⚠️ 3 View Analysis &gt;</td></tr><tr><td>Al Dhafra Insurance Company P.S.C (ADX:DHAFRA)</td><td>AED4.86</td><td>AED486M</td><td>✅ 1 ⚠️ 2 View Analysis &gt;</td></tr><tr><td>Sharjah Cement and Industrial Development (PJSC) (ADX:SCIDC)</td><td>AED0.82</td><td>AED503.63M</td><td>✅ 2 ⚠️ 2 View Analysis &gt;</td></tr><tr><td>Tgi Infrastructures (TASE:TGI)</td><td>₪2.705</td><td>₪212.34M</td><td>✅ 2 ⚠️ 3 View Analysis &gt;</td></tr></tbody></table><p>Click here to see the full list of 79 stocks from our  Middle Eastern Penny Stocks screener.</p><p>Underneath we present a selection of stocks filtered out by our screen.</p><h2>National Bank of Umm Al-Qaiwain (PSC) (ADX:NBQ)</h2><p><strong>Simply Wall St Financial Health Rating:</strong> ★★★★☆☆</p><p><strong>Overview:</strong> National Bank of Umm Al-Qaiwain (PSC) provides retail and corporate banking services in the United Arab Emirates, with a market capitalization of AED5.38 billion.</p><p><strong>Operations:</strong> The bank's revenue is primarily derived from Treasury and Investments, contributing AED410.1 million, and Retail and Corporate Banking, which adds AED342.24 million.</p><p><strong>Market Cap:</strong> AED5.38B</p><p>National Bank of Umm Al-Qaiwain (PSC) stands out with a solid market capitalization of AED5.38 billion, driven by substantial revenue from Treasury and Investments, as well as Retail and Corporate Banking. Despite a stable weekly volatility at 5%, the bank's earnings growth has decelerated to 0.3% over the past year, trailing behind its five-year average of 19.8%. The bank maintains an appropriate Loans to Deposits ratio at 63% but faces challenges with high bad loans at 2.2%. Its Price-To-Earnings ratio is competitive at 10.1x, though Return on Equity remains low at 8.6%.</p><ul><li>Click here to discover the nuances of National Bank of Umm Al-Qaiwain (PSC) with our detailed analytical financial health report.</li><li>Learn about National Bank of Umm Al-Qaiwain (PSC)'s historical performance here.</li></ul><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b01d9b94-4ba6-4452-b10b-790b7e5998af/chart/financial-position-analysis?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b01d9b94-4ba6-4452-b10b-790b7e5998af/chart/financial-position-analysis"/><figcaption>ADX:NBQ Financial Position Analysis as at Sep 2025</figcaption></figure><h2>InterCure (TASE:INCR)</h2><p><strong>Simply Wall St Financial Health Rating:</strong> ★★★★☆☆</p><p><strong>Overview:</strong> InterCure Ltd. operates in the research, cultivation, production, marketing, and distribution of pharmaceutical-grade cannabis and cannabis-based products for medical use both in Israel and internationally, with a market cap of ₪235.67 million.</p><p><strong>Operations:</strong> The company generates revenue primarily from its cannabis segment, which accounted for ₪238.85 million.</p><p><strong>Market Cap:</strong> ₪235.67M</p><p>InterCure Ltd., with a market cap of ₪235.67 million, primarily generates revenue from its cannabis segment, totaling ₪238.85 million. Despite being unprofitable with a negative Return on Equity of -18.3%, the company maintains short-term assets of ₪391.8 million that exceed both its short and long-term liabilities, indicating a strong liquidity position. The company's debt to equity ratio has increased over five years but remains satisfactory at 26.3%. InterCure's board is experienced with an average tenure of seven years; however, the management team's experience is unclear due to insufficient data on tenure lengths.</p><ul><li>Dive into the specifics of InterCure here with our thorough balance sheet health report.</li><li>Assess InterCure's previous results with our detailed historical performance reports.</li></ul><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e639da53-20ca-43ad-bcf7-9318fe606b2c/chart/debt-equity-history-analysis?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e639da53-20ca-43ad-bcf7-9318fe606b2c/chart/debt-equity-history-analysis"/><figcaption>TASE:INCR Debt to Equity History and Analysis as at Sep 2025</figcaption></figure><h2>SavorEat (TASE:SVRT-M)</h2><p><strong>Simply Wall St Financial Health Rating:</strong> ★★★★☆☆</p><p><strong>Overview:</strong> SavorEat Ltd. is a company that develops cellulose-based meat substitutes designed to mimic the eating experience of real meat, with a market cap of ₪5.35 million.</p><p><strong>Operations:</strong> No revenue segments have been reported for SavorEat Ltd.</p><p><strong>Market Cap:</strong> ₪5.35M</p><p>SavorEat Ltd., with a market cap of ₪5.35 million, remains pre-revenue and unprofitable, reporting a net loss of ILS 4.92 million for the first half of 2025. Despite having no debt and an experienced board with an average tenure of 5.6 years, the company faces financial challenges due to its highly volatile share price and less than one year of cash runway based on current free cash flow trends. Short-term assets (₪6.2M) exceed liabilities (₪840K), providing some liquidity cushion, though profitability remains elusive as losses have increased by 2.5% annually over five years.</p><ul><li>Click here and access our complete financial health analysis report to understand the dynamics of SavorEat.</li><li>Gain insights into SavorEat's historical outcomes by reviewing our past performance report.</li></ul><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/035f9675-2f76-4849-93b9-566b1416b415/chart/financial-position-analysis?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/035f9675-2f76-4849-93b9-566b1416b415/chart/financial-position-analysis"/><figcaption>TASE:SVRT-M Financial Position Analysis as at Sep 2025</figcaption></figure><h2>Turning Ideas Into Actions</h2><ul><li>Click here to access our complete index of 79  Middle Eastern Penny Stocks.</li><li>Curious About Other Options? AI is about to change healthcare. These 31 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.</li></ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data      and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your      financial situation. We aim to bring you long-term focused analysis driven by fundamental data.      Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.      Simply Wall St has no position in any stocks mentioned.</em></p></div></div>

INCR

ALAR

<p>The Middle Eastern stock markets are experiencing mixed movements, with Saudi losses due to profit-taking and Qatar's index rising. Penny stocks, often overlooked, present affordable investment opportunities with potential growth. Notable stocks include Maharah for Human Resources, Thob Al Aseel, and Alarum Technologies, among others. The National Bank of Umm Al-Qaiwain shows solid market capitalization but faces challenges with bad loans. InterCure operates in the cannabis sector but is unprofitable, while SavorEat, focused on meat substitutes, is pre-revenue and faces financial difficulties. Investors are encouraged to explore these under-the-radar options.</p>

Middle Eastern Penny Stocks With Market Caps Over US$1M