How the Saudi Government Has Streamlined the Kingdom for Fintech

By Staff Writer, 02 March 2023
How the Saudi Government Has Streamlined the Kingdom for Fintech

The Launch of Vision 2030 and Its Impact to Digitization in Saudi

In 2016, Vision 2030 was launched, followed by several comprehensive programs developed to reach specific goals and targets that were set out in the wider strategy. The Financial Sector Development Program (FSDP) is one such program. The FSDP has undertaken several commitments to be reached by 2025 which include supporting financial institutions, promoting emerging fintech companies, financing SMEs, and increasing cashless operations. It aims to digitize the economy and convert 70% of all transactions in the Kingdom to become cashless payments by 2025. The program’s efforts have had a major impact on Saudi citizens, especially supporting Saudis through the trying times the w

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