RIYADH, Mar 17 (NNN-SPA) – Saudi Arabia’s finance minister, announced that, the kingdom’s banking assets have reached 3.6 trillion Saudi Riyals (about 959 billion U.S. dollars) by the end of 2022.
Mohammed bin Abdullah Al-Jadaan said that, since 2019, the banking assets have increased by 37 percent.
The minister added that, the number of financial technology companies in the country has risen from 20 in 2019, to 147 in 2022.
He made the remarks during the opening of the second edition of the Financial Sector Conference, a two-day event organised by the partners of the Financial Sector Development Programme, including the Ministry of Finance, Saudi Central Bank, and Capital Market Authority.
The minister added that, as the financial sector holds the key to the prosperity of the kingdom’s traditional and digital infrastructure, ambitious goals have been set for the development of the sector.
