Financial Sector Development Program Issues Annual Report for 2024

‎‏The Financial Sector Development Program (FSDP) announced the issuance of its Annual Report for the year 2024, which reflects the program’s achievements during the past year and its future goals within the framework of Saudi Vision 2030. The report sheds light on the projects and initiatives implemented by FSDP and support economic growth.
‎‏H.E the Minister of Finance and Chairman of the Financial Sector Development Program Committee, Mr. Mohammed Aljadaan, stressed that FSDP continues the journey of success and achievements within the system of programs of Saudi Vision 2030 through its effective contribution to building an economic future that consolidates Saudi’s position regionally and internationally, and reflects the size of the development witnessed by all sectors of the state in this prosperous era under the leadership of the Custodian of the Two Holy Mosques and His Highness the Crown Prince.
‎‏His Excellency added that the report reflects part of this success, with those achievements increasing the resilience and development of the financial sector in the Kingdom while supporting economic transformation and financial stability. His Excellency highlighted the program’s progress in advancing the FinTech sector over the past year, with the number of licensed FinTech companies reaching 261 by the end of 2024. In addition, the Saudi Central Bank (SAMA) has continued to enhance digital payments, including the approval of D360 Bank to commence operations. Notably, electronic payments accounted for 79% of total retail transactions in 2024.

‎‏His Excellency added that the momentum of the Saudi financial market continued during 2024, through developing the rules and regulations to provide a supportive environment for companies. This resulted in the approval of the offering and listing of 44 companies, bringing the total number of listed companies to 353 company by the end of 2024.
‎‏The report is an essential tool to highlight the efforts to achieve the strategic objectives and enhancing transparency. It also emphasizes the Kingdom’s commitment to developing the financial sector to meet the aspirations of investors.
‎‏To view the annual report of the Financial Sector Development Program for the year 2024 please visit the official website of the program.