Saudi Central Bank Governor Ayman Al-Sayari announced on Monday that the number of fintech firms in Saudi Arabia has increased from 82 at the end of 2022 to 281 as of last month. He made the comments at the Money20/20 Middle East conference in Riyadh, where he unveiled a new digital services platform to support fintech development.
Al-Sayari said the increase reflects Saudi Arabia’s legislative and regulatory work to build out fintech infrastructure. The digital services platform will enable streamlined access to licensing, regulation, and service delivery for fintech firms under SAMA’s oversight.
He stressed that SAMA has a role in strengthening local infrastructure and creating regulatory frameworks so that fintechs can operate at scale. The governor noted that current regulations are being updated to ensure clarity over compliance, supervision, and digital finance operations.
As of his announcement, 281 companies are registered or recognised as fintechs in Saudi Arabia under SAMA’s purview. The figure is more than triple the total for 2022.
The conference, which includes more than 350 speakers, over 450 brands and 600 investors from more than 40 countries, emphasises Riyadh’s role in regional financial technology and innovation. The event aligns with Vision 2030 goals, including better financial inclusion, stronger regulatory partnerships, greater investment and transfer of knowledge.
