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The Latest Breaking News from Fahad al-Mubarak

Venture Capital Investments on the Rise in Saudi FinTech

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…

Asharq Al-Awsat · Mar 16, 2022

E-Transactions Top 57% of Total Payments in Saudi Arabia in 2021

E-Transactions Top 57% of Total Payments in Saudi Arabia in 2021

Electronic payments in the Saudi retail sector exceeded 57% of total transactions conducted in 2021, surpassing the 55% target set out by the Financial Sector Development Program (FSDP), the Saudi Central Bank (SAMA) said in a statement. SAMA Governor Fahad al-Mubarak said the central bank is working on promoting e-infrastructure,…

Asharq Al-Awsat · Jan 28, 2022

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