The Central Bank Governor Ayman Al-Sayari of Saudi Arabia highlighted the growth of the financial technology sector in the Kingdom during the inaugural International Conference on Financial Technology, ’24 Fintech’. He mentioned that national initiatives under the Saudi Vision 2030 and technological innovations have significantly contributed to the flourishing of the fintech sector. Al-Sayari emphasized that empowering financial innovation is crucial for the ongoing transformation of the Saudi economy. He also highlighted the importance of creating an enabling environment for innovation while maintaining the stability and resilience of the financial sector.
The three-day conference, hosted by the Saudi Central Bank (SAMA) in collaboration with the Financial Sector Development Program, the Capital Market Authority (CMA), and the Insurance Authority (IA), aims to position Saudi Arabia as a major hub for financial technology. The conference, jointly organized by Fintech Saudi and Tahaluf, is set to become an annual event and one of the largest financial technology gatherings in Asia, Europe, and North Africa. With over 26,000 participants, 300 exhibitors, and 350 investors, the conference offers 175 hours of specialized content overseen by an expert panel, making it a prominent competitor to leading fintech conferences worldwide.
Al-Sayari stressed that the growth of the financial technology sector has led to various benefits, such as expanding access to the financial system, improving the speed of financial transactions, and reducing their cost. He mentioned that SAMA’s focus remains on supporting stable growth levels and creating an environment conducive to innovation. Additionally, the Central Bank aims to achieve a balance between emerging risks and enabling innovation through its risk-based regulatory framework. The participation of SAMA in hosting the conference demonstrates its commitment to adopting innovative solutions to add economic value and enhance competitiveness in the Saudi financial market.
The International Conference on Financial Technology provides a platform for global stakeholders in the sector including regulatory bodies, policymakers, investors, technology experts, and academics to collaborate in driving and enhancing the collective transformation of the financial technology industry. The conference aims to foster innovation and creativity within the sector while ensuring stability and resilience in the financial sector. By hosting such events, Saudi Arabia is positioning itself as a key player in the fintech industry and creating opportunities for networking and collaboration among industry professionals.
With the participation of over 26,000 attendees, 300 exhibitors, and 350 investors, the ’24 Fintech’ conference is set to become a leading platform for showcasing the latest trends and innovations in the financial technology sector. The event offers a diverse range of specialized content overseen by an expert panel, providing valuable insights for participants. The conference serves as a unique opportunity for industry professionals to network, collaborate, and exchange ideas to drive innovation and growth in the fintech industry in Saudi Arabia and beyond.
In conclusion, the International Conference on Financial Technology, ’24 Fintech’, hosted by the Saudi Central Bank in collaboration with other key regulatory bodies, aims to position Saudi Arabia as a major hub for financial technology. The conference provides a platform for global stakeholders in the sector to collaborate and drive the collective transformation of the financial technology industry. With a focus on innovation, stability, and resilience, Saudi Arabia is paving the way for growth and competitiveness in the financial technology sector through initiatives like this conference.
