Saudi Gazette report

RIYADH — Saudi Finance Minister Mohammed Al-Jadaan said Monday that the Saudi stock market is one of the fastest-growing globally, with a market capitalization reaching $2.4 trillion at the end of Q2 2025.

He noted that while geopolitical tensions create uncertainty, Vision 2030 has set a clear path to strengthen and diversify the economy.

Speaking at the opening of the Money 20/20 Middle East conference in Riyadh, which gathers more than 350 speakers, 450 brands, and 600 investors from over 40 countries, Al-Jadaan revealed ongoing efforts to integrate artificial intelligence and data tools into the financial market.

He highlighted that around 280 fintech companies are currently active in the Kingdom, with electronic payments rising from 12 percent in 2016 to 79 percent by the end of last year.

The insurance sector also grew by 16.3 percent in 2024, alongside the launch of pilot platforms offering innovative solutions.

Al-Jadaan stressed that the global economy is at a critical juncture, facing slowed growth, higher interest rates redefining capital, and sharp geopolitical and trade tensions.

The conference is hosted in Riyadh with wide participation from financial and technology leaders inside and outside the Kingdom. It is co-hosted by the Financial Sector Development Program, the Saudi Central Bank (SAMA), the Capital Market Authority, and the Insurance Authority.

The event’s agenda covers key themes shaping the future of financial services, including artificial intelligence trends, open finance, instant payments, data governance, and regulations.