The Financial Technology Week, organized by the Saudi Arabian General Investment Authority (SAGIA) and held on July 6-13, was concluded yesterday with the participation of a number of Saudi government entities and banks in London.
With the aim of promoting dialogue between innovation companies, emerging and medium-sized companies, governments and the media so as to pave the way for the growth of the financial technology sector and provision of better job opportunities, SAGIA took part in an event it has organized, entitled "Invest In Saudi Arabia”, along with more than 100 participants, including entrepreneurs, funds, and British banks and financial institutions.
During the event, SAGIA revealed a number of available investment opportunities in KSA’s financial technology sector, and reviewed the “Fintech Saudi” initiative, through a dialogue session, which included representatives of several Saudi entities, such as the Saudi Arabian General Investment Authority (SAGIA), the Capital Market Authority (CMA), the Small and Medium Enterprises General Authority (Monsha'at), and the Saudi Arabian Monetary Agency (SAMA), represented by “Fintech Saudi”. In this respect, emerging financial technology companies showcased their presentations to attendees, so as to enhance cooperation between investment institutions and emerging companies.
Through this event, SAGIA seeks, along with relevant entities, to contribute to the support and development of Fintech-related small and medium enterprises, as well as enhance and transform the financial technology sector in the Kingdom into a distinctive destination for innovation in this field.
The “Fintech Saudi” initiative constitutes a catalyst for the development of the financial technology industry in KSA, which aims at transforming the Kingdom into an innovative fintech hub with a thriving ecosystem, driven by local and international stakeholders. “Fintech Saudi” seeks to achieve this by bringing together public and private organizations to foster a culture of innovation, build a broad understanding about fintech and support the growth of fintech entrepreneurs and SMEs.