Financial sector aspirations 2024: Launching digital banks, listing 24 firms

The Financial Sector Development Program (FSDP) announced in its annual report for 2023, the aspirations of Saudi Arabia’s financial institutions for 2024, including Saudi Central Bank (SAMA), Capital Market Authority (CMA).

SAMA’s Aspirations for 2024:

- keeping pace with best practices and adherence to international standards in a way that preserves the Kingdom’s position and contributes to enhancing the strength and stability of the financial sector.

- Developing digital solutions for supervising the financial sector (SupTech).

- Updating the regulatory framework for open banking.