“Regulation and government services also play a key role in the transition to a cashless society. The Saudi economy is conducive to the adoption of digital solutions, as the country enjoys a large, tech- savvy population, integrated e-government infrastructure and a supportive regulatory environment. These factors have also been beneficial to the fight against Covid-19, as the authorities were able to take proactive and technology-based measures. Most recently, in April 2020 the Nafith digital platform was launched, enabling banks to expand their digital financing offerings to customers.”
-Faisal Omar Alsaggaf, CEO, National Commercial Bank, talks about the enabling role of Saudi banks amid COVID-19 and beyond. [zawya.com]
