RIYADH — Minister of Finance and Chairman of the Financial Sector Development Program Mohammed Al-Jadaan said Saudi Arabia has advanced toward a more sustainable financial market, positioning the Kingdom to capitalize on emerging growth opportunities. He made the remarks while inaugurating the second edition of Money20/20 Middle East conference at the Riyadh Front Exhibition and Conference Center in Malham on Monday. The three-day conference, organized by Tahaluf, brought together more than 38,000 participants and 350 speakers, alongside 600 investors and 150 startups from across the financial and technology ecosystem, both locally and internationally. Al-Jadaan affirmed that the gathering of financial sector leaders, investors, and innovators in Riyadh reflects the Kingdom’s attractive financial and investment environment and its ability to navigate change with confidence and resilience. “Saudi Vision 2030’s entry into its third phase, focused on maximizing impact and building on the gains achieved, reinforces this direction and raises the level of ambition for the period ahead. This includes enhancing market efficiency, enabling the private sector to grow and compete, strengthening the Kingdom’s ability to attract capital, and expanding investment opportunities,” he said. Al-Jadaan noted that, throughout its journey, the Financial Sector Development Program has contributed to establishing a deeper, more diversified, and better-prepared financial environment by advancing legislative and regulatory frameworks, deepening markets, expanding financing and investment options, and preparing the financial infrastructure to accommodate emerging technologies and innovative business models. The finance minister stated that the progress achieved across the financial sector is an extension of the transformation launched under Saudi Vision 2030 and the enablers and reforms it has introduced. “These efforts have contributed to improving market efficiency, broadening the scope of investment and innovation, and reinforcing the financial sector’s role as a key enabler of economic growth,” he said. Al-Jadaan emphasized that the sector’s ability to support growth is closely linked to its capacity to navigate change efficiently while preserving confidence and stability, pointing to the resilience demonstrated by the Saudi financial sector amid recent economic and geopolitical developments, underpinned by robust regulatory and institutional frameworks and strong levels of capital and liquidity.
