“By 2022, when we issued our annual report, we found that there were 147 operating fintechs under the umbrella of the Capital Markets Authority (CMA), the Central Bank of Saudi Arabia, as well as non-regulated activity. For today, we have over 180 operating fintechs in Saudi Arabia. “The ultimate aim is to achieve over 525 operating fintechs in Saudi Arabia; create over 18,000 jobs in the fintech domain; accumulate over 12billion Saudi Riyal of investment in fintech companies; as well as generate 13billion Saudi Riyal in Saudi GDP.”

Nezar Alhaidar, managing director for Fintech Saudi [Fintech Times]