Saudi Gazette report

RIYADH — Saudi Central Bank (SAMA) Governor Ayman Al-Sayari said Monday that the number of fintech companies in the Kingdom has tripled since 2022, as the country lays the legislative groundwork for developing its financial technology sector.

Speaking at the Money20/20 Middle East conference in Riyadh, Al-Sayari announced the launch of a dedicated digital services platform by the central bank.

He emphasized SAMA’s responsibility to advance the fintech sector by strengthening local infrastructure and regulatory frameworks.

According to Al-Sayari, the number of fintech companies grew from 82 at the end of 2022 to 281 as of last month, underscoring the sector’s rapid expansion.

The conference, which brings together more than 350 speakers, 450 brands, and 600 investors from over 40 countries, reinforces Riyadh’s role as a regional hub for business and financial innovation. It also supports Vision 2030 goals of boosting financial inclusion, expanding partnerships and investment, and driving knowledge transfer.