FinTech: Saudi Arabia Hosts Fintech Tour 20

November 30, 2020 | Artificial Intelligence, News

It is the Middle East region’s largest cluster of fintech events.

A virtual event, the third Fintech Tour 20 is being held from 29th November – 10 December 2020. Fintech Saudi and the Capital Markets Authority (CMA) have launched the event to support the growth of the fintech industry in Saudi Arabia. Fintech Saudi is an initiative by the Saudi Arabian Monetary Authority (SAMA). (THE FINTECH TIMES)

Comprising the Middle East region’s largest collection of fintech events, the Fintech Tour 20 will feature free lectures, panel discussions, and workshops on fintech-related issues.  The Tour will revolve around the themes of FinTech Trends, Saudi Deep Dives, and Entrepreneurship Skills. The 24 events included will showcase 50 local and international experts as speakers.

The Tour is part of the larger economic development transformation known as Saudi Vision 2030.

Fintech Tour 20

“Fintech Tour 20 will bring together experts to spread awareness about important fintech trends, support entrepreneurs with workshops on core skills, and provide a better understanding about the fintech developments occurring in Saudi Arabia,” said Nejoud Almulaik, Director of Fintech Saudi. “Aligned with the interests of the G20 countries to support the development of the fintech industry, we need to inspire more people to learn about fintech.”

Events at the Tour include lectures from high profile entrepreneurs and fintech personalities. There is a discourse on the fintech regulations by SAMA and CMA.

Another highlight shall be a presentation and report on Project Aber. It is the joint digital currency and distributed ledger project of the Saudi Central Bank, and the Central Bank of the UAE.

Also included at Fintech Tour 20 is a case study on Greensill, the Australian supply chain financing company. It achieved unicorn status earlier this year. The company has begun operations in Saudi Arabia.

Saudi Arabia pivoting to new-age technology

Saudi Arabia is shifting from its traditional reliance on oil. It is embracing new technology such as artificial intelligence and financial services.

In October, the country hosted a two-day Global AI Summit at Riyadh.

At the summit, the Kingdom flagged off a $20 billion program aimed to make the country a global leader in artificial intelligence and data science by 2030. The country’s National Strategy for Data and Artificial Intelligence (NSDAI) intends to attract international and domestic investment for this purpose.

As a part of the strategy, Saudi Arabia will train 20,000 specialists and experts and establish 300 active start-ups.

Related Story:  Saudi Crown Prince Calls For AI To Tackle The “New Global Normal”

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