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Alsayari: The Financial Sector Conference Seeks to Enhance the Kingdom’s Financial Position and Highlight Investment Opportunities

On March 15 and 16, the 2nd edition of the Financial Sector Conference is organized in cooperation with FSDP partners in Riyadh. H.E Mr. Ayman Alsayari, Governor of the Saudi Central Bank (SAMA) 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 the ground towards enhancing the Kingdom’s financial position and highlight investment opportunities.

Governor Alsayari clarified that the financial sector in the Kingdom has been witnessing considerable successes and achievements during the year 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 sandbox to attract financial institutions, and local and international companies specialized in financial technology. Likewise, the issuance of the regulatory framework for open banking, the involvement of 147 active companies in the financial technology, the number of points of sale (POS) devices exceeding one million, and contributing to the increased share of non-cash transactions to 57%, in addition to 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 in addition to discuss challenges and good practices for the development of the sector.

The conference contributes to introducing the financial sector development program and its initiatives that are 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/