Saudi Arabia’s Finance Minister and Chairman of the Financial Sector Development Program (FSDP), H.E. Mohammed Al-Jadaan, officially opened the second edition of Money20/20 Middle East in Riyadh on September 14, bringing together financial leaders, investors, regulators and fintech companies from around the world.
Held at the Riyadh Exhibition & Convention Centre in Malham, the three-day event places Saudi Arabia at the centre of discussions around the future of financial services, with conversations focusing on investment, fintech, digital infrastructure and the development of new financial technologies.
The 2026 edition is expected to attract more than 38,000 attendees, alongside more than 350 exhibiting brands, 390 speakers, 600 investors and 150 startups.
Saudi Arabia Focuses on a Stronger Financial Sector
Al-Jadaan delivered the opening keynote, outlining Saudi Arabia’s priorities as the Kingdom enters the next phase of its economic transformation under Saudi Vision 2030.
He highlighted the importance of continuing to encourage innovation while maintaining financial stability and appropriate oversight. He also pointed to the role of new financial business models and technologies in helping the Kingdom’s financial sector respond to changing economic conditions.
According to Al-Jadaan, the focus is now on building a deeper and more competitive financial sector that can support the evolving Saudi economy, encourage private-sector growth, attract investment and create new opportunities.
He also stressed that technology alone will not be enough, highlighting the importance of developing skilled professionals who can build new technologies while managing the risks associated with them.
Tabby Announces $6.5 Billion Valuation
The opening day also brought major announcements from companies operating across the region’s financial ecosystem.
Regional payments and financial services platform Tabby announced a new Series F funding round at a valuation of $6.5 billion.
The company said the funding will help it expand consumer financing and build teams capable of supporting customers across a wider range of their financial needs.
Meanwhile, Silq announced a SAR 500 million partnership with Joa Capital. Silq currently serves more than 50,000 small and medium-sized enterprises (SMEs), and the new partnership is expected to help the company provide more startups and small businesses with access to working capital and financing.
Balancing Innovation With Financial Stability
A key discussion at the event focused on how financial systems can grow and adopt new technologies without compromising stability.
During the session “Designing Financial Systems that Scale Safely,” experts discussed the need to balance innovation, competition and financial system resilience.
Turky A. Kabarah, Director of Fintech Enablement at the Saudi Central Bank (SAMA), said regulation should not be viewed as an obstacle to innovation. Instead, he described regulatory requirements as a framework that can help fintech companies test new business models, understand risks and scale safely.
Balaji Rajagopalan, CTO at the State Bank of India, also emphasised the importance of designing financial services around customers, with security and protection built into every stage of the process.
He noted that as technologies such as artificial intelligence become more deeply integrated into financial services, resilience needs to be built into technology, processes and governance from the beginning.
CBDCs and the Future of Digital Money
The future of sovereign digital currencies was another major topic on the opening day.
During the “Deep Dive: Designing Sovereign Money – Inside CBDC Architecture” session, panelists discussed the potential role of central bank digital currencies (CBDCs), particularly in markets where cash remains widely used.
The conversation also explored how digital currencies could eventually support transactions carried out by machines and automated systems.
Dr Saeeda Jaffar, Managing Director at International, Circle, pointed to the growing use of digital assets in digital environments and suggested that digital currencies could provide payment infrastructure for increasingly automated transactions.
Riyadh Brings the Global Financial Industry Together
The opening of Money20/20 Middle East reflects Saudi Arabia’s growing role in the global financial technology ecosystem.
Mike Champion, CEO of Tahaluf, said the event brings major financial institutions, regulators, investors, fintech companies and technology businesses together in Riyadh, creating opportunities for partnerships, investment and business development.
Money20/20 Middle East will continue at the Riyadh Exhibition & Convention Centre through September 16, with further industry discussions, announcements and investment activity expected during the remaining days.
The event is hosted by the Financial Sector Development Program, Saudi Central Bank, Capital Market Authority and Insurance Authority, and co-organised by Fintech Saudi and Tahaluf.
