First Edition of '24 Fintech' Conference Kicks Off Tuesday in Riyadh to Strengthen the Global Financial System
The first edition of the International Conference on Financial Technology, "24 Fintech," will commence on Tuesday as part of Saudi Arabia's efforts to become a major hub for financial technology.
The event will be held for three days at the Riyadh Front Exhibition and Conference Center and is hosted by the Financial Sector Development Program, the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), and the Insurance Authority (IA).
The conference is jointly organized by "Fintech Saudi" and "Tahaluf," a joint venture between Informa PLC, the Saudi Federation for Cyber Security, Programming and Drones (SAFCSP) and the Events Investment Fund (NDF).
Aiming to attract over 26,000 participants, 300 exhibitors, and 350 investors, the "24 Fintech" conference is set to become an annual event and one of the largest financial technology gatherings in Asia, Europe, and North Africa.
The conference will offer 175 hours of specialized content overseen by an expert panel, positioning it as a prominent competitor to the world's leading fintech conferences.
It will host a distinguished group of regulatory bodies, policymakers, investors, technology experts, and academics. It provides an exceptional platform for global stakeholders in the sector to collaborate in driving and enhancing the collective transformation of the financial technology industry.
The Governor of SAMA, Ayman Al-Sayari, emphasized that empowering financial innovation and fintech is fundamental to the ongoing transformation of the Saudi economy.
He noted that SAMA's participation in hosting the "24 Fintech" Conference underscores its commitment to adopting the most innovative and advanced solutions to contribute to creating added economic value and enhancing competitiveness in the Saudi financial market while maintaining the stability and resilience of the financial sector as the foundation for any successful economic transformation.
The Chairman of CMA, Mohammed bin Abdullah El-Kuwaiz, stated that the financial technology sector is a key driver in enhancing and developing the efficiency of financial products and services, aligning with the current technological revolution and the Kingdom's developmental and economic goals.
He stated that the CMA's hosting of the "24 Fintech" Conference, which brings together key stakeholders to foster innovation and development and create diverse financing and investment opportunities, reaffirms its commitment to establishing a dynamic, transparent, and robust financial system that meets the highest international standards.
The Chairman of the IA Board of Directors, Abdulaziz Al-Boug, stated that the authority's hosting of the '24 Fintech' Conference reflects its belief in the importance of digital transformation in driving the evolution and growth of the insurance sector.
"This summit will facilitate the integration of technology and innovation to enhance the digitalization of insurance, improve the quality of services provided, and ensure accessibility to all segments of society across the Kingdom. This contributes to protecting policyholders and achieving sustainable growth in the sector by empowering technology and meeting the objectives of Saudi Vision 2030," Al-Boug said.
The Chairman of the SAFCSP Board of Directors and partner of Tahaluf, Faisal Al-Khamisi, emphasized the crucial role of the "24 Fintech" Conference in supporting entrepreneurs and startups in the fintech sector.
He highlighted that this support is vital to building a professional national workforce based on the best global practices and standards, elevating the Kingdom to the ranks of advanced nations in fintech knowledge.
Al-Khamisi noted that this aligns with the objectives of the Saudi Vision 2030 in fostering innovation, entrepreneurship, and developing the financial sector, empowering our creative youth and ambitious talents to contribute to shaping the future of the financial ecosystem.
