Vice Governor for Supervision and Technology at the Saudi Central Bank (SAMA) Dr. Khaled Al-Dhaher emphasized that the financial technology (24 Fintech) sector in Saudi Arabia has witnessed remarkable growth in recent years. This progress is attributed to the strategic focus on developing the sector and providing a supportive regulatory environment while maintaining financial stability.
During his participation today in a dialogue session titled “Balancing Innovation And Regulation – The Role Of Central Banks In The Fintech Ecosystem” at the 24 Fintech held in Riyadh, Dr. Al-Dhaher stated that the Central SAMA’s focus on the continuous resilience of the financial system is the main reason for the development of the Fintech sector in Saudi Arabia. He noted that Fintech companies represent a new model for development that enables innovative solutions, protects customers, and maintains the stability of the financial sector.
Dr. Al-Dhaher considers the financial system’s resilience and stability to be the cor
nerstone of supporting economic growth and creating an environment that contributes to the growth of Fintech companies.
Source: Saudi Press Agency
