Kingdom's financial sector resilience and capacity to support emerging markets highlighted by Finance Minister and FSDP Chairman
H.E. Mohammed Al-Jadaan, Saudi Arabia's Minister of Finance, Opens Money20/20 Middle East in Riyadh
• Minister of Finance and Chairman of FSDP underlines Kingdom's financial sector resilience and ability to support new markets
RIYADH, SAUDI ARABIA, September 16, 2026 /EINPresswire.com/ — • Finance Minister and FSDP Chairman underscores the Kingdom's robust financial sector and its capacity to back new markets
• The first day featured major fintech news, including Tabby's Series F funding round at a USD 6.5 billion valuation and Silq's SAR 500 million partnership with Joa Capital
Money20/20 Middle East was officially launched in Riyadh on Monday, convening top Saudi government representatives, international financial leaders, investors, policymakers, financial institutions, fintech pioneers, and technology firms at the Riyadh Exhibition & Convention Centre in Malham. The event's opening day positioned Saudi Arabia at the forefront of international dialogues on the future of financial services, with leaders from both public and private sectors engaging in discussions on investment, innovation, financial infrastructure, and the collaborations required to drive the industry's next phase of growth.
H.E. Mohammed Al-Jadaan, the Kingdom of Saudi Arabia's Finance Minister and Chairman of the FSDP Committee, formally opened the second edition of Money20/20 Middle East. He was accompanied on a tour of the event by other senior Saudi officials, who used the occasion to detail the priorities influencing the Kingdom's financial sector and the advancements being made in fintech, investment, digital infrastructure, and financial innovation.
This 2026 edition is projected to draw more than 38,000 attendees, along with over 350 exhibiting brands, 390 speakers, more than 600 investors, and 150 startups across the three-day event.
Organised by the Financial Sector Development Program (FSDP), with support from the Saudi Central Bank (SAMA), Capital Market Authority (CMA), and Insurance Authority (IA), and co-hosted by Fintech Saudi and Tahaluf, Money20/20 Middle East assembles the global money ecosystem in Riyadh with a schedule centred on the developments transforming finance in Saudi Arabia, the region, and worldwide.
During the opening keynote, H.E. Al-Jadaan outlined the next phase of Saudi Arabia's economic transformation. He stated that the Kingdom aims to continue innovating while maintaining discipline, to embrace opportunities while ensuring proper oversight, and to adopt technology rapidly without sacrificing stability.
H.E. Finance Minister Mr. Mohammed Aljadaan, who also chairs the Financial Sector Development Program, commented: "Saudi Vision 2030 has helped expand financing and investment channels, and enabled a more flexible legislative environment for the fintech sector. As the Vision enters its third phase, the focus shifts to sustaining the impact of economic transformation and building on the gains of this new growth. Our direction is clear: to build a deeper, more competitive financial sector that keeps pace with the evolution of the Saudi economy, empowers the private sector, attracts investment, and expands opportunities. We have opened the door to new financial business models and technologies that have strengthened the sector's ability to adapt to changing conditions and support the economy efficiently. In times like these, the strength of the financial sector isn't measured by its size or pace of growth alone, but by its ability to adapt and keep operating under a range of conditions. None of this is complete without the human talent capable of developing these technologies and managing their risks."
He also detailed the Ministry's commitment to sustaining the economic transformation's impact, converting new growth opportunities into more efficient markets, more dynamic capital flows, and a stronger financial sector, while noting the resilience Saudi Arabia's financial system has shown amid shifting global economic conditions.
The opening day featured several announcements highlighting the pace of investment and collaboration in the financial services sector. Regional payments app Tabby revealed a Series F funding round at a USD 6.5 billion valuation, which it states will help secure consumer financing and build teams to serve customers across a broader range of their financial needs.
In a separate development, Silq and Joa Capital announced a SAR 500 million partnership aimed at enabling Silq, which currently serves over 50,000 SMEs, to extend support to more start-ups and small businesses through access to working capital and financing.
Beyond these announcements, the day's sessions explored how financial systems can continue to innovate and expand while preserving stability. A panel titled ‘Designing Financial Systems that Scale Safely,’ featuring global experts, examined the need to balance innovation, competition, and systemic stability.
Turky A. Kabarah, Director of Fintech Enablement at the Saudi Central Bank (SAMA), stated that regulations are not obstacles but rather catalysts for innovation, explaining: “We do not view regulatory requirements as barriers to innovation, but as a roadmap that enables fintech companies to innovate and scale safely. By testing new business models in a controlled environment, we can better understand their risks, develop appropriate frameworks, and maintain trust and stability across the financial system.”
Fellow panelist Balaji Rajagopalan, CTO at the State Bank of India, emphasised that stability and customer usage should be central to any financial system design. He remarked: “Financial services must be designed around the customer, with security and protection embedded throughout the entire journey. As technologies such as AI become increasingly integrated across the financial ecosystem, resilience cannot be treated as an afterthought; it must be built into technology, processes and governance from the outset.”
The future of sovereign money was also addressed in a session titled “Deep Dive: Designing Sovereign Money – Inside CBDC Architecture.” Panelists agreed on the need for central bank-issued digital currencies in markets where cash payments remain prevalent. The discussion also explored how such digital currencies might be used by machines rather than humans.
Dr Saeeda Jaffar, Managing Director for International at Circle, commented: "The use of digital assets, digital currencies for the digital world is an incredible use case. It is happening. Already there are bots out there that are making many, many transactions. There are no payment rails that can handle that as well as digital currencies."
The scope and variety of the opening day underscored Money20/20 Middle East's function as a central hub for the global financial ecosystem, uniting institutions, investors, regulators, fintech companies, and technology leaders in Riyadh.
Mike Champion, CEO of Tahaluf, remarked: "Money20/20 Middle East is bringing an incredible mix of people to Riyadh. We have the major financial institutions, regulators, investors, fintechs and some of the most exciting companies in the sector all here at the same time. Saudi Arabia is a market people want to understand and be part of, and there is a huge amount of opportunity here. Over the next three days, we want to see people meeting the right partners, finding investment, doing business and hopefully starting conversations that continue long after the event. That is ultimately why we bring the industry together at this scale."
Money20/20 Middle East continues at the Riyadh Exhibition & Convention Centre in Malham until 16 September, with additional announcements, investment activity, and industry discussions anticipated over the remaining two days.
For registration and further details, visit www.money2020middleeast.com.
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About Money20/20 Middle East
Money20/20 Middle East serves as the region’s hub for the global money ecosystem, a platform that brings together regulators, banks, fintechs, investors, and technology innovators to drive the future of financial services. Through top-tier content, high-impact networking, and significant announcements, the event places Saudi Arabia at the core of global fintech innovation.
About Money20/20
Money20/20 is the world’s premier premium content, sales, and networking platform for the global money ecosystem, with flagship events in Amsterdam (Europe), Las Vegas (USA), Bangkok (Asia), and Riyadh (Middle East). A part of Informa, Money20/20 is where the industry’s foremost visionaries and innovators gather to shape the future of money. In 2025, Money20/20 Middle East was honoured as Best International Show Middle East at the AEO Excellence Awards, highlighting its expanding influence and impact on the global fintech sector.
About Tahaluf
Tahaluf is a premier events company in Saudi Arabia, delivering world-class platforms that foster innovation across key global industries. Through flagship events like LEAP, Black Hat MEA, and Money20/20 Middle East, Tahaluf links global experts, visionaries, and organisations to shape the future via collaboration, creativity, and technology.
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