Riyadh – Mubasher: Saudi Arabia targets financial investment amounting to SAR 12.20 billion, Khaled Al Dhaher, Vice Governor for Supervision and Technology at the Saudi Central Bank (SAMA), revealed. 

The Kingdom also plans to increase the fintech sector’s contribution to the domestic product to SAR 13.30 billion in 2030, according to Al Dhaher's remarks during his speech at the Seamless Saudi Arabia 2023 conference on behalf of Ayman Mohammed Al Sayari, the SAMA’s governor.

This aligns with Saudi Arabia's objectives to become one of the leading countries in the fintech industry and make Riyadh a hub for technology

Al Dhaher also noted that the Kingdom plans to increase the number of fintech companies to 525, which will contribute to providing 18,000 job opportunities.

He underlined that the recent period witnessed a surge in the number of fintech companies across the Kingdom, reaching 183 firms by the end of the second quarter (Q2) of 2023. This accounts for 80% of the 2025 target of 230 fintech companies.

Seamless Saudi Arabia launched in Riyadh on Monday under the patronage of Al Sayari, with MENA’s leading platform Mubasher Media acting as a media partner for the two-day event.