At the opening of Money20/20 Middle East in Riyadh, the Kingdom's Minister of Finance and FSDP Chairman highlighted the strength of the nation's financial sector and its capacity to support emerging markets.
Riyadh Hosts Money20/20 Middle East, Inaugurated by Saudi Minister of Finance H.E. Mohammed Al-Jadaan
• FSDP Chairman and Finance Minister underscores the resilience of the Kingdom's financial sector and its readiness to back new markets
RIYADH, SAUDI ARABIA, September 16, 2026 /EINPresswire.com/ — • The Minister of Finance, who also chairs the FSDP, pointed to the resilience of the Kingdom's financial system and its capability to serve new markets
• The first day featured significant fintech developments, including Tabby's Series F round at a USD 6.5 billion valuation and a SAR 500 million collaboration between Silq and Joa Capital
Money20/20 Middle East kicked off on Monday in Riyadh, assembling senior Saudi government figures, international financial leaders, investors, policymakers, financial bodies, fintech pioneers, and technology firms at the Riyadh Exhibition & Convention Centre in Malham. The inaugural day positioned Saudi Arabia at the forefront of worldwide dialogues on the future of financial services, as leaders from both public and private sectors engaged in discussions on investment, innovation, financial infrastructure, and the collaborations essential for the industry's upcoming growth phase.
H.E. Mohammed Al-Jadaan, who serves as Finance Minister and Chairman of the FSDP Committee for the Kingdom of Saudi Arabia, formally opened the second iteration of Money20/20 Middle East. He was accompanied on a tour of the venue by other senior Saudi officials, who utilised the opening day to highlight the priorities guiding the Kingdom's financial sector and the advancements achieved in fintech, investment, digital infrastructure, and financial innovation.
The 2026 event is projected to draw over 38,000 attendees, along with more than 350 exhibiting brands, 390 speakers, over 600 investors, and 150 startups during its three-day run.
Organised under the auspices of the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), and Insurance Authority (IA), with co-organisation by Fintech Saudi and Tahaluf, Money20/20 Middle East convenes the global money ecosystem in Riyadh with a programme centred on the transformations reshaping finance in Saudi Arabia, the wider region, and international markets.
In his opening keynote, H.E. Al-Jadaan detailed the next phase of Saudi Arabia's economic transformation. He stated that the Kingdom aims to keep innovating while staying disciplined, embracing opportunities while preserving proper oversight, and adopting technology swiftly without undermining stability.
H.E. Minister of Finance Mr. Mohammed Aljadaan, who chairs the Financial Sector Development Program, remarked: "Saudi Vision 2030 has broadened financing and investment avenues and fostered a more adaptable legislative environment for the fintech sector. As the Vision enters its third phase, the emphasis moves to sustaining the effects of economic transformation and building upon the achievements of this new growth. Our path is unambiguous: to create a deeper, more competitive financial sector that matches the evolution of the Saudi economy, strengthens the private sector, draws investment, and widens opportunities. We have opened avenues for new financial business models and technologies that have boosted the sector's capacity to respond to shifting conditions and support the economy effectively. In times such as these, the financial sector's strength is gauged not solely by its size or growth rate, but by its ability to adjust and continue functioning across diverse circumstances. None of this is achievable without the human expertise capable of developing these technologies and managing their risks."
He elaborated on the Ministry's commitment to maintaining the momentum of the Kingdom's economic transformation and converting new growth prospects into more efficient markets, more vibrant capital flows, and a more robust financial sector, while also noting the resilience Saudi Arabia's financial system has shown amid shifting global economic conditions.
The opening day also featured several announcements underscoring the pace of investment and cooperation within the financial services landscape. Regional payments application Tabby revealed a Series F funding round at a USD 6.5 billion valuation, which it states has enabled it to secure consumer financing and build teams to serve customers across a broader spectrum of their financial needs.
Separately, Silq and Joa Capital unveiled a SAR 500 million partnership designed to enable Silq, which currently serves over 50,000 SMEs, to extend support to additional start-ups and small businesses through access to working capital and financing.
Alongside the day's announcements, programme discussions explored how financial systems can continue to innovate and expand while preserving stability. A panel titled ‘Designing Financial Systems that Scale Safely’ brought together global experts to deliberate on the equilibrium between innovation, competition, and systemic stability.
Turky A. Kabarah, Director of Fintech Enablement Financial technology at the Saudi Central Bank (SAMA), noted that regulations do not obstruct innovation but rather foster it, stating: “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.”
Another panellist, Balaji Rajagopalan, CTO at the State Bank of India, emphasised that stability and customer use must take precedence in the design of any financial system. 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 topic of sovereign money was also addressed in a panel titled “Deep Dive: Designing Sovereign Money – Inside CBDC Architecture.” The panellists concurred on the necessity for central bank-designed digital currencies in markets where cash payments remain prevalent. The conversation also explored the potential for digital currencies to be utilised by machines rather than humans.
Dr Saeeda Jaffar, Managing Director at International, 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 breadth and variety of the opening day underscored Money20/20 Middle East's function as a hub for the global financial ecosystem, uniting institutions, investors, regulators, fintech companies, and technology leaders in Riyadh.
Mike Champion, CEO of Tahaluf, stated: "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 will run at the Riyadh Exhibition & Convention Centre in Malham until 16 September, with additional announcements, investment activity, and industry dialogues 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, offering a platform that brings together regulators, banks, fintechs, investors, and technology innovators to advance the future of financial services. Through high-calibre content, impactful networking, and significant announcements, the event places Saudi Arabia at the centre of global fintech innovation.
About Money20/20
Money20/20 stands as the world's premier premium content, sales, and networking platform for the global money ecosystem, featuring flagship events in Amsterdam (Europe), Las Vegas (USA), Bangkok (Asia), and Riyadh (Middle East). As part of Informa, Money20/20 is where the industry's foremost visionaries and innovators converge 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 drive innovation across key global industries. Through flagship events such as 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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