The Financial Sector Conference is a financial event held under the umbrella of the Financial Sector Development Program (one of the Saudi Vision 2030 programs). It seeks to be the leading event for the sector at the local and Middle East levels. The inaugural edition of the conference is to strengthen the Kingdom’s position as the largest capital market in the Middle East, and highlight the promising investment opportunities in the financial sector provided by the various Vision 2030 projects.
The Financial Sector Conference will be held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on 24-25 April 2019 (19-20 Shaaban 1440 AH) at the King Abdulaziz International Conference Center in Riyadh.
The Financial Sector Conference is organized by the main agencies overseeing the implementation of the Financial Sector Development Program: the Ministry of Finance, Saudi Arabian Monetary Agency and the Capital Market Authority.
The Financial Sector Conference is part of the Financial Sector Development Program, one of the Saudi Vision 2030 programs. The conference provides a window into the many promising investment opportunities in the Kingdom’s financial sector provided by the various Vision 2030 projects, in particular the Financial Sector Development Program and its 3 main pillars: Enabling financial institutions to support private sector growth, develop an advanced financial market, and promote and enable financial planning among all segments of society.
The conference will discuss six key topics related to the financial sector: competitiveness and capacity building for the financial sector, real estate financing, Islamic finance, financial technology (FinTech) and opportunities and challenges in the insurance market.
The Financial Sector Conference brings together local, regional and global business and financial leaders and local and international representatives from the public and private sectors, including international corporations, major global financial advisory firms and global rating agencies.
The inaugural edition of the conference gains its importance as it comes 11 months after the launch of the Financial Sector Development Program, one of the executive programs of Saudi Vision 2030. The program aims to develop a diversified and effective financial sector to support the development of the national economy and stimulate savings, finance and investment by developing and deepening financial sector institutions, developing an advanced capital market, and strengthening and enabling financial planning for all segments of society.
The conference targets representatives from the local and international public and private sectors, including international corporations, major global financial advisory firms, global rating agencies, experts and specialists in finance, investment, banking, financing and insurance.
The financial sector conference aims provide a comprehensive vision that stimulates the growth of the Saudi financial sector, as well as present potential opportunities in the Saudi financial sector, including investment opportunities, introduce the financial sector development program and its initiatives and how they work to achieve Vision 2030, underline the competitive position of the Saudi financial sector at the Middle East and global levels and provide a singular platform for the industry’s financial leaders to share experiences and knowledge and discuss challenges and practices to develop the sector.
The conference is patronized and supported by Saudi Arabia’s highest levels of leadership, and is organized by the regulators of the Kingdom’s financial sector (Ministry of Finance, Saudi Arabian Monetary Agency, and the Capital Market Authority). The conference is envisioned as the largest event of its kind at the local and regional levels, and will offer sector stakeholders ample opportunity to connect and discuss the latest topics related to the sector, as well as gain insights into best international experiences.
The Financial Sector Conference seeks to strengthen Saudi Arabia’s international standing as the largest capital market in the Middle East region, as per international indices, a major drawing point for foreign investment. As such, the Kingdom seeks to enable financial industry leaders in areas such as finance, investment, insurance, banking and large corporations to connect through a singular platform. The resulting exchange of experiences between lenders and beneficiaries, sharing of experiences and knowledge, discussions of main challenges, regulations and legislation and sector development practices will collectively help stimulate the growth of the financial sector.
The conference will be accompanied by an exhibition showcasing the latest products and innovations of companies in the financial sector, including major financial, insurance and Fintech companies, as well as SME support organizations, government agencies and large national companies. The exhibition will provide companies with the opportunity to present their products and forge new partnerships with stakeholders. Moreover, a number of workshops will also be held on the sidelines of the conference.
By bringing financial sector stakeholders in the financial sector to connect and engage in constructive dialogue, the conference seeks to present opportunities that attract foreign investments in the financial sector and increase the contribution of the Saudi financial sector to the GDP, in line with Vision 2030’s objectives of building a diversified and stable financial sector and developing an advanced capital market.
SME’s stand to benefit greatly from attending the conference’s accompanying workshops which will highlight key opportunities, challenges and solutions which are available to them, as well as being able to get to know the latest products and innovations by financial sector institutions forge partnerships with industry stakeholders.
The conference will highlight the prospects of Fintech to highlight the Kingdom’s efforts in this field, represented by the Saudi Arabian Monetary Agency (SAMA)’s recently-launched Fintech Saudi initiative to support the Fintech ecosystem and make the Kingdom a leader in this field. This initiative is in line with the Financial Sector Development Program initiatives which aim to create an advanced financial infrastructure to encourage innovations and implement the Integrated Digital Payments Strategy.
Attendance of the conference is by invite only. Those who are not on the invitee list yet wish to attend the conference can submit a request for the organizing entities to review through www.financialsector-conference.com.
The Financial Sector Development Program is one of the executive programs launched by the Council for Economic and Development Affairs in April 2017 to achieve Vision 2030 targets. The program aims to support the development of the national and economy and contribute to achieving the Vision’s other goals by creating a diversified and effective financial services sector to support the development of the national economy and stimulate savings, finance, and investment.
The program targets an array of segments, including investors, financial institutions, banks, insurance companies, financing institutions, investment companies, SME’s, entrepreneurs and students.
There are three main partners in the program which collectively represent the official entities that regulate the financial sector, and they are: the Ministry of Finance, the Saudi Arabian Monetary Agency and the Capital Market Authority.
Based on the guiding principle of “a thriving economy and an ambitious nation” which is part of Saudi Vision 2030, the Financial Sector Development Program is underpinned by three main objectives:
The program aims to create a prosperous financial sector as a key enabler in achieving the goals outlined by Visions 2030 by providing Saudi population with access to a comprehensive financial system that offers innovative digital financial solutions and maintains financial stability. The program aims to increase the private sector’s contribution to the gross domestic product, reduce dependence on oil revenues, increase the scale of capital markets, and develop a digital financial infrastructure.
The program is designed to align with the targets and aspirations of Saudi Vision 2030), one of the most important of which is to make the financial sector a key contributor to the Kingdom’s development, which is an objective that cannot be achieved unless the financial sector is developed accordingly.