Riyadh, On March 15 and 16, the second edition of the Financial Sector Conference will be held in Riyadh, in cooperation with FSDP partners. Saudi Central Bank (SAMA) Governor Ayman Alsayari noted that given the Kingdom’s large financial market, the conference would have a wider involvement of local and international officials and experts to prepare towards enhancing the Kingdom’s financial position and highlight investment opportunities.

Governor Alsayari clarified that the financial sector in the Kingdom witnessed considerable successes and achievements during 2022. These accomplishments play a pivotal role in developing the sector, including the launch of the Fintech strategy–Fintech Saudi hub–and the issuance of the updated regulatory framework for a sandbox to attract financial institutions and local and international companies specialized in financial technology. Other achievements include the issuance of the regulatory framework for open banking, the involvement of 147 active companies in financial technology, points of sale (POS) devices exceeding 1 million and increasing the share of non-cash transactions to 57%, and the licensing of a new digital bank, bringing the total to three.

Alsayari pointed out that the conference offers an opportunity for financial industry leaders, including banks, finance, investment, and insurance companies to communicate and convene in one place to exchange knowledge, expertise, and information between financiers and beneficiaries, offer opportunities and highlight regulations and legislation, and discuss challenges and good practices for the development of the sector.

The conference contributes to introducing the financial sector development program and its initiatives consistent with the objectives of Saudi Vision 2030. Individuals interested in attending the financial sector conference and its sessions can register through the link: https://registration.fsc.sa.

Source: Saudi Press Agency