Saudi Arabia Steps Up Push to Attract Global Growth-Stage Fintechs

Saudi Arabia is pursuing economic transformation under Vision 2030, with the Financial Sector Development Program positioning fintech as a key driver of digitalization and efforts to reduce dependence on oil. The policy aims to accelerate the adoption of international innovations, promote financial inclusion and build a comprehensive digital financial ecosystem. It marks a crucial milestone in the kingdom’s effort to diversify its economy and turn Riyadh into a global financial hub.

According to reports published by The Fintech Times on July 13 and 15, 2026, the Saudi Central Bank and the Capital Market Authority are using regulatory sandboxes to advance the Growth-Stage Bridge initiative. The number of fintech companies in the kingdom rose from 10 in 2018 to more than 200 by the end of 2023 and is projected to reach 525 by 2030. By then, Saudi Arabia’s digital economy is expected to expand to US$133 billion, while its overall economy is projected to reach US$1.39 trillion.