FSDP Director: Fintech is a priority sector in the development of the sector, market

Faisal Al Sharif, Director General of the Financial Sector Development Program (FSDP), said that financial technology is a sector with high priority in the development of the financial sector and market development.

Al-Sharif said in a session within the Capital Market Forum 2022, that the financial, banking and insurance sectors are promising sectors beside the financial technology sector (Fintech).

On the other hand, Al-Sharif confirmed that privatization has gone through a long journey through the listing of many companies. “There are two initiatives that have succeeded in the market, the first is the inclusion of part of government assets such as Aramco”, stressing that it is important to achieve goals and challenge ourselves to achieve more.

He also reiterated that the Saudi Arabia is committed to a privatization program and is working continuously to prepare an economic environment for that, especially for new listings and subscriptions.

The role played by Muqassa Company in 2020 was very significant and we hope that this will help in attracting and listing more companies.