The Financial Sector Development Program plays a crucial role in shaping the future of Saudi Arabia's financial sector to promote income diversification, boost savings, and offer various financing and investment opportunities. By creating a strong, dynamic, and stable sector, the Program is driving economic growth and diversification in the Kingdom.

As the Kingdom’s economy continues to thrive, the Program is strengthening financial sector institutions, advancing the financial market, encouraging savings, and fostering the growth of fintech startups in their pursuit of a world-leading financial sector.

Launched in 2018, the Financial Sector Development Program was established with a mission to make a difference in the financial industry of Saudi Arabia with a focus on banking, insurance, stock markets, and debt markets. By helping financial institutions in the Kingdom become stronger and more competitive, the Program is driving the growth and advancement of the Kingdom’s financial market.

The Program works hand-in-hand with the Saudi Central Bank (SAMA) to provide banking services that are more accessible. By investing in technology and offering a wide range of financial products and services, the Program is committed to contributing to the stability and growth of the banking system to make it even more convenient. It has also collaborated with the Capital Market Authority (CMA) to establish an evolved capital market that offers a range of products.

The Program is working tirelessly to modernize the financial landscape in Saudi Arabia by updating laws and regulations to meet the highest international standards.

With its dedication, the Program has already accomplished some amazing feats, such as launching its forward-thinking FinTech strategy, granting licenses to three cutting-edge digital banks, and establishing a Financial Academy to train and develop future financial leaders.

Since the Program's launch, the Saudi Capital Market (Tadawul) is now counted among the top 10 largest markets globally, listed on the leading international indices such as MSCI, S&P Dow Jones, and FTSE Russell.

The Program is keeping up with the latest global trends to ensure a modern, innovative financial system that supports entrepreneurship, drives private sector growth, and puts Saudi Arabia on the map as a premier destination for FinTech companies.

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H.E. Mr. Mohammed Abdullah Al-Jadaan

Chairman of the Program, Minister of Finance, & Member of the Council of Economic and Development Affairs

Fueling the engine of economic prosperity, the Financial Sector Development Program is powering growth in Saudi Arabia.

Board Members

Minister of Investment

H.E. Eng. Khalid bin Abdulaziz Al-Falih

Minister of Economy and Planning

H.E. Mr. Faisal bin Fadhil Alibrahim

Governor of the Saudi Central Bank

H.E. Mr. Ayman bin Mohammed Alsayari

Chairman of the Capital Market Authority

H.E. Mr. Mohammed bin Abdullah Al-Quwaiz

Head of Global Capital Finance at the Public Investment Fund

Mr. Fahad bin Abduljalil Al-Saif

Chief of Staff of the National Development Fund

Mr. Khalid bin Ibrahim Shareef