24 Fintech Conference announces investment worth over SAR800 million

Riyadh, In the second day of the 24 Fintech Conference, held at the Riyadh Front Exhibition and Convention Center, a keynote speech was delivered by Emad Kashgari, CEO of 1957 Ventures, who discussed Saudis leading role in financial technology in the Middle East and North Africa. The event is hosted by the Financial Sector Development Programme, the Saudi Central Bank (SAMA), the Capital Market Authority, and the Insurance Authority, and organized by Fintech Saudi, Tahaluf, a joint venture between the Saudi Federation for Cybersecurity, Programming and Drones, Informa Global, and the Investment Events Fund. Kashgari said that Saudi Arabia accounted for 58% of venture capital investments in the region in 2023. He also announced that 1957 Ventures investment fund had surpassed SAR800 million, the Saudi Press Agency (SPA) reported. At the conference, it was also announced that solutions by stc have joined the Makkan programme as a partner in providing strategic management services. The program aims to empowe r entrepreneurs and startups in the fintech sector by supporting technology, cloud computing, and cybersecurity. The second day of the conference featured sessions on the future of financial technology, banking services, the evolution from traditional to digital banking, and the growth of fintech in Saudi Arabia. Participants included Yazeed Al Nafjan, Deputy Governor for Financial Innovation at the Saudi Central Bank (SAMA), Nizar Al Tuwaijri, STC Bank CEO, and Lateefa Alwaalan, Endeavor Executive Director. Source: Bahrain News Agency