Kingdom's financial sector strength and capacity to serve emerging markets highlighted by Finance Minister and FSDP Chairman
Saudi Arabia's Minister of Finance, H.E. Mohammed Al-Jadaan, Kicks Off Money20/20 Middle East in Riyadh
• Finance Minister and FSDP Chairman emphasizes resilience of the Kingdom's financial sector and its readiness to support new markets
RIYADH, SAUDI ARABIA, September 16, 2026 /EINPresswire.com/ — • Finance Minister and FSDP Chairman stresses resilience of Kingdom's financial sector and capacity to support emerging markets
• Day one features significant fintech developments, with Tabby revealing Series F funding at USD 6.5 billion valuation and Silq announcing SAR 500 million collaboration with Joa Capital
Money20/20 Middle East commenced its official proceedings in Riyadh on Monday, assembling senior Saudi government representatives, global financial leaders, investors, policymakers, financial institutions, fintech pioneers and technology firms at the Riyadh Exhibition & Convention Centre in Malham. The inaugural day positioned Saudi Arabia at the forefront of worldwide discussions on the future of financial services, as leaders spanning the public and private sectors engaged in conversations about investment, innovation, financial infrastructure and the collaborative efforts required to drive the industry's subsequent growth phase.
H.E. Mohammed Al-Jadaan, Finance Minister and Chairman of the FSDP Committee, Kingdom of Saudi Arabia, formally opened the second iteration of Money20/20 Middle East and received a guided tour of the venue alongside other senior Saudi officials, who leveraged the opening day to articulate the priorities guiding the Kingdom's financial sector and the advancements underway in fintech, investment, digital infrastructure and financial innovation.
The 2026 edition is projected to draw more than 38,000 attendees, in addition to over 350 exhibiting brands, 390 speakers, more than 600 investors and 150 startups across the subsequent three days.
Organised under the auspices of the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA) and Insurance Authority (IA), and co-organised by Fintech Saudi and Tahaluf, Money20/20 Middle East unites the global money ecosystem in Riyadh through a programme centred on the transformations redefining finance across Saudi Arabia, the wider region and international markets.
H.E. Al-Jadaan delivered the opening keynote, outlining the forthcoming chapter in Saudi Arabia's economic transformation journey. The Minister stated that Saudi Arabia aims to persist in innovating while upholding discipline; embracing opportunities while ensuring proper oversight; and rapidly adopting technology without compromising stability.
H.E. Minister of Finance Mr. Mohammed Aljadaan, Chairman of the Financial Sector Development Program commented: "Saudi Vision 2030 has broadened financing and investment avenues and fostered a more adaptable legislative framework for the fintech sector. As the Vision enters its third phase, the emphasis shifts toward sustaining the momentum of economic transformation and leveraging the achievements of this emerging growth. Our trajectory is unequivocal: to cultivate a more profound, more competitive financial sector that aligns with the evolution of the Saudi economy, empowers the private sector, attracts investment, and broadens opportunities. We have opened avenues for novel financial business models and technologies that have bolstered the sector's capacity to respond to shifting conditions and serve the economy effectively. In current circumstances, the robustness of the financial sector is determined not solely by its size or growth velocity, but by its capacity to adapt and function across diverse scenarios. None of this is achievable without the human expertise capable of advancing these technologies and mitigating their associated risks."
He detailed the Ministry's commitment to preserving the impact of the Kingdom's economic transformation and converting new growth prospects into more efficient markets, more vibrant capital flows and a more robust financial sector, whilst underscoring the resilience that Saudi Arabia's financial system has exhibited amid evolving global economic conditions.
The opening day also featured a range of announcements reflecting the pace of investment and collaboration throughout the financial services landscape. Regional payments application Tabby unveiled a Series F funding round at a USD 6.5 billion valuation, which it reports has enabled it to secure consumer financing and assemble teams to serve customers across a broader spectrum of their financial needs.
Concurrently, Silq and Joa Capital revealed a SAR 500 million partnership designed to allow Silq, which presently supports more than 50,000 SMEs, to extend assistance to additional start-ups and small enterprises through access to working capital and financing.
Beyond the day's announcements, discussions throughout the programme examined how financial systems can continue to innovate and expand whilst preserving stability. During a session entitled ‘Designing Financial Systems that Scale Safely,’ a panel of international experts deliberated on the importance of striking a balance among innovation, competition and systemic stability.
Turky A. Kabarah, Director of Fintech Enablement Financial technology, Saudi Central Bank (SAMA), stated that regulations do not impede innovation but rather foster it, explaining: “We do not perceive regulatory requirements as obstacles to innovation, but rather as a guide that empowers fintech companies to innovate and expand securely. By trialling new business models within a controlled setting, we can more effectively comprehend their risks, devise suitable frameworks, and preserve trust and stability across the financial system.”
Fellow panel member Balaji Rajagopalan, CTO at the State Bank of India, added that stability and customer usage must take precedence when designing any financial system. He remarked: “Financial services must be structured around the customer, with security and protection woven throughout the entire experience. As technologies like AI become more deeply embedded across the financial ecosystem, resilience cannot be an afterthought; it must be integrated into technology, processes and governance from the very beginning.”
The future of sovereign money was likewise addressed during a panel titled “Deep Dive: Designing Sovereign Money – Inside CBDC Architecture.” The panelists concurred that central bank-designed digital currencies are necessary in markets where cash payments continue to prevail. The conversation also explored the possibility that digital currencies may ultimately be utilised by machines rather than humans.
Dr Saeeda Jaffar, Managing Director at International, Circle, stated: "The application of digital assets and digital currencies for the digital world represents an extraordinary use case. It is already occurring. Bots are presently executing numerous transactions. No existing payment rails can accommodate that as effectively as digital currencies."
The breadth and diversity of the opening day underscored Money20/20 Middle East's function as a convergence point for the global financial ecosystem, uniting institutions, investors, regulators, fintech companies and technology leaders in Riyadh.
Mike Champion, CEO of Tahaluf, commented: "Money20/20 Middle East is drawing a remarkable array of participants to Riyadh. We have the major financial institutions, regulators, investors, fintechs and some of the most dynamic companies in the sector all gathered simultaneously. Saudi Arabia is a market that people are eager to comprehend and engage with, and the opportunities here are substantial. Over the coming three days, our aim is for attendees to connect with the right partners, secure investment, conduct business and ideally initiate conversations that endure well beyond the event. That is ultimately the purpose of convening the industry at this magnitude."
Money20/20 Middle East will continue at the Riyadh Exhibition & Convention Centre in Malham until 16 September, with additional announcements, investment activities and industry conversations anticipated over the remaining two days.
Registration and further details can be found at www.money2020middleeast.com.
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About Money20/20 Middle East
Money20/20 Middle East serves as the region's hub for the global money ecosystem, a platform that brings together regulators, banks, fintechs, investors and technology innovators to accelerate the future of financial services. Through high-calibre content, impactful networking and landmark announcements, the event places Saudi Arabia at the centre of global fintech innovation.
About Money20/20
Money20/20 is the world's premier premium content, sales and networking platform for the global money ecosystem, featuring flagship events in Amsterdam (Europe), Las Vegas (USA), Bangkok (Asia) and Riyadh (Middle East). As part of Informa, Money20/20 is where the industry's foremost visionaries and innovators convene to shape the future of money. In 2025, Money20/20 Middle East was honoured as Best International Show Middle East at the AEO Excellence Awards, underscoring its expanding influence and impact on the global fintech landscape.
About Tahaluf
Tahaluf is a premier events company in Saudi Arabia, delivering world-class platforms that drive innovation across key global industries. Through flagship events including LEAP, Black Hat MEA and Money20/20 Middle East, Tahaluf links global experts, visionaries and organisations to shape the future via collaboration, creativity and technology.
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