Saudi Arabia’s financial sector will reach USD1.2T by 2030| MENAFN.COM

Friday, 09 December 2022 08:20 GMT

Saudi Arabia’s financial sector will reach USD1.2T by 2030

(MENAFN) Based on the Saudi Minister of Finance, the country's financial industry wants to reach SR4.5 trillion (USD1.2 trillion) in total banking assets by 2030.

According to Asharq Alawsat, Mohammed bin Abdullah Al-Jadaan claimed during his address on the occasion of the 92nd National Day that the total banking assets will reach SR3.5 trillion by the end of the second quarter of this year.

He pointed out that the Saudi economy's increasing strength is a reflection of its sound financial policies as well as capacity for change in the face of difficulties.

He applauded the outcomes produced by the National Center for Privatization Program, the Financial Sector Development Program, and the Financial Sustainability Program.

Until September this year, the Financial Sector Development Program is going to have raised the number of organizations that are successful in financial technology to over 120 enterprises, he added.

The minister mentioned the Financial Sustainability Program and how it helped implement several structural changes.


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