The Capital Market Authority (CMA) opened the Money20/20 Center East convention in Mulham, marking a serious step in strengthening Saudi Arabia’s function as a regional hub for fintech innovation consistent with Imaginative and prescient 2030.
Talking throughout a panel session, Mohammed bin Abdullah El Kuwaiz, Chairman of the CMA Board, stated monetary supervision within the Kingdom is being remodeled by synthetic intelligence (AI).
El Kuwaiz famous that the Saudi capital market has shifted from a standard risk-based mannequin to superior indicator-monitoring programs, which have improved supervisory effectivity by almost 80 per cent.
Cash 20/20 in Saudi Arabia
He added that the market capitalisation of the Saudi inventory market has reached virtually SR10tn ($2.67tn)—double the dimensions of the nation’s banking property, which stand at SR5tn ($1.33tn).
El Kuwaiz additionally confused that the market has developed past buying and selling by means of easy funding positions to an change of various funding views, serving to to stability volumes between particular person and institutional buyers and boosting market stability.
The event reflects the CMA’s commitment to fintech growth, AI-powered regulation, and long-term capital market stability, cementing the dominion’s place as a number one monetary hub within the area.
