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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Asharq Al-Awsat

Venture Capital Investments on the Rise in Saudi FinTech

Mubarak Saudi Arabia Saudi Central Bank Center
Saudi officials inaugurating the Financial Technology Center (Asharq Al-Awsat)

The governor of Saudi Central Bank (Sama), Fahad al-Mubarak, announced that growth in financial technology companies (FinTech) contributed to the provision of crowdfunding and deferred payment activity, amounting to $533 million.

Mubarak noted that the participation of FinTech companies in payments increased the total number of operations in national payment systems to 5 percent by the end of January 2022, compared to 2.5 percent last year.

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