Saudi Arabia’s Financial Sector Development Program Issues Annual Report

Saudi Arabia's Financial Sector Development Program Issues Annual Report

The Financial Sector Development Program, one of the Kingdom’s Vision 2030 programs, has launched its annual report, reviewing its most important achievements from its inception until the end of 2019.

The Director General of the Program Faisal bin Mohammed Al-Sharif stated that the report dealt with the Kingdom’s joining to global indicators such as MSCI for Emerging Markets and FTSE Russell, amending many rules and legislations that enable the development of the sector, developing the financial technology sector, raising the rate of non-cash transactions, stimulating small and medium enterprises by creating new financing channels, and other achievements.

He pointed out that Program is one of the executive programs launched by the Council of Economic and Development Affairs to achieve the goals of the Kingdom’s Vision 2030. It also seeks to develop the financial sector to be a diversified and effective financial sector to support the development of the national economy, diversify sources of income, and stimulate savings, financing and investment.

He added that the report is available through the following link: