Overview
SAMA's regulatory sandbox, open banking framework, and dozens of new fintech licenses have made Riyadh a regional fintech hub. The Financial Sector Development Program targets hundreds of fintech companies and a largely cashless economy by 2030.
Market drivers
Open banking & instant payments infrastructure
Young, digital-first consumer base
Government push for cashless payments
Government initiatives
Fintech Saudi & SAMA sandbox
Financial Sector Development Program
Opportunities
Payments, lending, and WealthTech licenses
InsurTech under the Insurance Authority
B2B financial infrastructure and APIs
What to plan for
Licensing capital requirements by activity
Data residency and cybersecurity controls