Saudi Arabia builds momentum in financial inclusion thanks to strengthening government support and improved digital finance, according to the Global Financial Inclusion Index from Principal®
(MENAFN- Edelman) KINGDOM OF SAUDI ARABIA – NOVEMBER 10, 2026 – Saudi Arabia recorded some of the strongest improvements in financial inclusion globally in 2026, as greater government support and continued investment in digital and financial infrastructure strengthened the market’s financial ecosystem, according to the 2026 Global Financial Inclusion Index from Principal Financial Group® and the Centre for Economics and Business Research (Cebr).
According to the Index, which ranks 42 markets based on the support provided by employers, the government, and the financial system, Saudi Arabia climbed three places to 27th with its financial inclusion score rising from 45.0 to 48.6. The United Arab Emirates (UAE) rose one place to 21st.
Saudi Arabia’s national fintech strategy positions it as a next-generation global fintech leader
A key finding in past editions of the Index has been that the markets making the strongest progress in financial inclusion are also those investing most heavily in digital financial infrastructure, namely fintech. Building on this finding, this year’s research assesses which markets could become the fintech leaders of tomorrow. It examines both the extent to which markets prioritize fintech and digital financial infrastructure today and whether governments have developed sophisticated, detailed, and forward-looking fintech strategies that position them to accelerate financial inclusion in the future. The analysis assesses areas including measurable targets, funding commitments, implementation plans, digital public infrastructure, and the integration of AI into financial services.
Saudi Arabia stands out globally. It received the maximum fintech strategy score of 20 out of 20, the highest of any market analyzed, and is one of only five markets classified as a “Next Gen Leader.” The category covers markets which, if they execute their sophisticated and ambitious national strategies effectively, could be well positioned to become the fintech leaders of tomorrow.
Charles Brooke, senior managing director, head of Middle East, Central Asia & Africa, Principal Asset ManagementSM, said: “Few countries have embraced fintech as systematically, or as strategically, as Saudi Arabia. While many governments support financial innovation through regulation or targeted investment, the Kingdom has gone further by embedding fintech directly into its long-term national development strategy. It regards fintech not as an end in itself, but as an enabler of broader economic and social objectives.”
The Kingdom’s strategy combines fintech development with its broader economic ambitions under Vision 2030. Fintech has been established as the fourth pillar of the Financial Sector Development Program, alongside banking, capital markets, and financial planning. The program is supported by six transformation drivers focused on regulation, digital infrastructure, access to finance, skills, international partnerships, and Saudi Arabia’s ambition to become a global fintech hub. These ambitions are supported by measurable targets. By 2030, Saudi Arabia aims to grow its fintech ecosystem to 525 companies, create approximately 18,000 fintech jobs, attract SAR12 billion of venture capital investment into the sector, and generate SAR13 billion of GDP through fintech activities. By 2024, the Kingdom had already exceeded interim targets for the number of fintech companies operating in the market.
Across to the Index’s three pillars of financial inclusion, Saudi Arabia recorded improvements in two: government and employer support.
Unlike last year, when financial system improvements drove financial inclusion gains, this year’s rise was driven by government support, up 5.1 points in Saudi Arabia. Saudi Arabia also bucks the global decline in scores for the financial system as an enabler of business confidence and SME growth. Saudi Arabia ranks second worldwide for the financial system as an enabler of SME growth and success, with a score of 95.2, and fifth for general business confidence.
This progress is increasingly being felt by local populations.
Saudi Arabia and the UAE now sit in the top five markets globally for overall perceptions of financial inclusion and rank third and fifth, respectively, for how supportive their populations perceive their financial systems to be. Saudi Arabia also recorded the largest five-year rise of any market in the share of people who view the government as a helpful source of support, increasing 40.4 percentage points since 2022.
“The Gulf’s rise in consumer confidence correlates with its overall Index performance, said Brooks. “Saudi Arabia has paired digitization with visible changes in government and financial system support, and people are noticing. Saudi Arabia’s 40-point rise since 2022 in people who see the government as helpful is especially striking and suggests GCC investment is beginning to convert into trust, said Brooke.
Key findings from the 2026 Global Financial Inclusion Index:
•Global financial inclusion reached a record high in 2026, with overall scores rising to 52 out of 100, the highest level since the index launched. Most markets improved after last year’s plateau.
•Digitalization accelerated financial inclusion gains, with financial system support emerging as the strongest drive of progress. The financial system support score increased 4.4 points to 55.3, more than double the increase in government support.
•Employer support declined for a second consecutive year, falling 2.9 points to 65.7, with decreases across 83% of markets. Economic pressures have contributed to reductions in discretionary benefits while stronger government and financial system support may be reducing reliance on employers for financial guidance.
•A perception gap is widening despite measurable progress. While financial inclusion scores have reached record levels, consumer perceptions of financial inclusion have fallen to their lowest point on record, suggesting support systems are not keeping pace with rising expectations and cost-of-living pressures.
According to the Index, which ranks 42 markets based on the support provided by employers, the government, and the financial system, Saudi Arabia climbed three places to 27th with its financial inclusion score rising from 45.0 to 48.6. The United Arab Emirates (UAE) rose one place to 21st.
Saudi Arabia’s national fintech strategy positions it as a next-generation global fintech leader
A key finding in past editions of the Index has been that the markets making the strongest progress in financial inclusion are also those investing most heavily in digital financial infrastructure, namely fintech. Building on this finding, this year’s research assesses which markets could become the fintech leaders of tomorrow. It examines both the extent to which markets prioritize fintech and digital financial infrastructure today and whether governments have developed sophisticated, detailed, and forward-looking fintech strategies that position them to accelerate financial inclusion in the future. The analysis assesses areas including measurable targets, funding commitments, implementation plans, digital public infrastructure, and the integration of AI into financial services.
Saudi Arabia stands out globally. It received the maximum fintech strategy score of 20 out of 20, the highest of any market analyzed, and is one of only five markets classified as a “Next Gen Leader.” The category covers markets which, if they execute their sophisticated and ambitious national strategies effectively, could be well positioned to become the fintech leaders of tomorrow.
Charles Brooke, senior managing director, head of Middle East, Central Asia & Africa, Principal Asset ManagementSM, said: “Few countries have embraced fintech as systematically, or as strategically, as Saudi Arabia. While many governments support financial innovation through regulation or targeted investment, the Kingdom has gone further by embedding fintech directly into its long-term national development strategy. It regards fintech not as an end in itself, but as an enabler of broader economic and social objectives.”
The Kingdom’s strategy combines fintech development with its broader economic ambitions under Vision 2030. Fintech has been established as the fourth pillar of the Financial Sector Development Program, alongside banking, capital markets, and financial planning. The program is supported by six transformation drivers focused on regulation, digital infrastructure, access to finance, skills, international partnerships, and Saudi Arabia’s ambition to become a global fintech hub. These ambitions are supported by measurable targets. By 2030, Saudi Arabia aims to grow its fintech ecosystem to 525 companies, create approximately 18,000 fintech jobs, attract SAR12 billion of venture capital investment into the sector, and generate SAR13 billion of GDP through fintech activities. By 2024, the Kingdom had already exceeded interim targets for the number of fintech companies operating in the market.
Across to the Index’s three pillars of financial inclusion, Saudi Arabia recorded improvements in two: government and employer support.
Unlike last year, when financial system improvements drove financial inclusion gains, this year’s rise was driven by government support, up 5.1 points in Saudi Arabia. Saudi Arabia also bucks the global decline in scores for the financial system as an enabler of business confidence and SME growth. Saudi Arabia ranks second worldwide for the financial system as an enabler of SME growth and success, with a score of 95.2, and fifth for general business confidence.
This progress is increasingly being felt by local populations.
Saudi Arabia and the UAE now sit in the top five markets globally for overall perceptions of financial inclusion and rank third and fifth, respectively, for how supportive their populations perceive their financial systems to be. Saudi Arabia also recorded the largest five-year rise of any market in the share of people who view the government as a helpful source of support, increasing 40.4 percentage points since 2022.
“The Gulf’s rise in consumer confidence correlates with its overall Index performance, said Brooks. “Saudi Arabia has paired digitization with visible changes in government and financial system support, and people are noticing. Saudi Arabia’s 40-point rise since 2022 in people who see the government as helpful is especially striking and suggests GCC investment is beginning to convert into trust, said Brooke.
Key findings from the 2026 Global Financial Inclusion Index:
•Global financial inclusion reached a record high in 2026, with overall scores rising to 52 out of 100, the highest level since the index launched. Most markets improved after last year’s plateau.
•Digitalization accelerated financial inclusion gains, with financial system support emerging as the strongest drive of progress. The financial system support score increased 4.4 points to 55.3, more than double the increase in government support.
•Employer support declined for a second consecutive year, falling 2.9 points to 65.7, with decreases across 83% of markets. Economic pressures have contributed to reductions in discretionary benefits while stronger government and financial system support may be reducing reliance on employers for financial guidance.
•A perception gap is widening despite measurable progress. While financial inclusion scores have reached record levels, consumer perceptions of financial inclusion have fallen to their lowest point on record, suggesting support systems are not keeping pace with rising expectations and cost-of-living pressures.
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