Saudi’s SAMA and CMA support 12 fintech startups as part of Fintech Accelerator Program

Saudi’s SAMA and CMA support 12 fintech startups as part of Fintech Accelerator Program

Riyadh: Under the patronage of the Governor of the Saudi Central Bank (SAMA), Dr. Fahad Almubarak and the Chairman of the Capital Market Authority (CMA), Mohammed Alkuwaiz, Fintech Saudi organized the closing ceremony of the second cohort of the Fintech Accelerator

The 12 fintech companies from the Fintech Accelerator Program presented their innovative solutions, culminating months of hard work, which contributed to develop their product strategies and business models, acquire expertise and knowledge by international and local experts.

Dr. Fahad Almubarak delivered the opening speech, while Mohammed Elkuwaiz welcomed the visitors and reaffirmed the support of SAMA and CMA for financial technology sector entrepreneurs.

On his side, SAMA’s governor stated that: "Start-up Fintech companies' role extends beyond providing innovative financial services to include supporting the broader scope of economy. In cooperation with the CMA and our partners in the government and private sectors, SAMA seeks to develop the Fintech sector under the ambitious national strategy recently announced by His Royal Highness, Crown Prince and Chairman of the Supreme Committee for Research, Development and Innovation; and under the Financial Sector Development Program (FSDP)–one of the Saudi Vision 2030 programs. Such efforts are made to fulfill the Leadership’s aspirations for the Kingdom to become a