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Saudi Arabia to raise FinTech companies by threefold under new strategic plan

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Image: Shutterstock
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23 Jun 2022 02:06:44 GMT9
23 Jun 2022 02:06:44 GMT9

Nour El Shaeri and Rayana AlQubali

RIYADH: Saudi Arabia plans to increase the number of FinTech companies in the Kingdom by threefold under a new national financial strategy.

The ministry of finance said in a statement that under the new FinTech strategy the number of firms is expected to increase from 82 to 230 by 2025.

The plan also aims at increasing the share of digital transactions to 70 percent of all financial dealings by 2025. 

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