Manal Saleh 

Minister of Finance and Chairman of FSDP underlines Kingdom's financial sector resilience and ability to support new markets

• Opening day sees major fintech announcements as Tabby unveils Series F funding round at USD 6.5 billion valuation and Silq announces SAR 500 million partnership with Joa Capital

Riyadh, Saudi Arabia – 14 September 2026: Money20/20 Middle East officially opened in Riyadh on Monday, bringing together senior Saudi government officials, global financial leaders, investors, policymakers, financial institutions, fintech innovators and technology companies, at the Riyadh Exhibition & Convention Centre in Malham. The opening day placed Saudi Arabia at the centre of global conversations around the future of financial services, with leaders from across the public and private sectors discussing investment, innovation, financial infrastructure and the partnerships needed to support the industry's next phase of development.

H.E. Mohammed Al-Jadaan, Finance Minister and Chairman of the FSDP Committee, Kingdom of Saudi Arabia, officially inaugurated the second edition of Money20/20 Middle East and was given a tour of the event, alongside other senior Saudi officials, who used the opening day to outline the priorities shaping the Kingdom's financial sector and the progress being made across fintech, investment, digital infrastructure and financial innovation.

The 2026 edition is expected to welcome more than 38,000 attendees, alongside over 350 exhibiting brands, 390 speakers, more than 600 investors and 150 startups over the next three days.

Hosted by the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA) and Insurance Authority (IA), and co-organised by Fintech Saudi and Tahaluf, Money20/20 Middle East brings together the global money ecosystem in Riyadh through a programme focused on the developments reshaping finance across Saudi Arabia, the region and international markets.

H.E. Al-Jadaan delivered the opening keynote, in which he outlined the next chapter for Saudi Arabia's economic transformation. The Minister said Saudi Arabia's goal is to continue innovating while remaining disciplined; open to opportunities while maintaining appropriate oversight; and quick to adopt technology without compromising stability.

H.E. Minister of Finance Mr. Mohammed Aljadaan, Chairman of the Financial Sector Development Program said: "Saudi Vision 2030 has helped expand financing and investment channels, and enabled a more flexible legislative environment for the fintech sector. As the Vision enters its third phase, the focus shifts to sustaining the impact of economic transformation and building on the gains of this new growth. Our direction is clear: to build a deeper, more competitive financial sector that keeps pace with the evolution of the Saudi economy, empowers the private sector, attracts investment, and expands opportunities. We have opened the door to new financial business models and technologies that have strengthened the sector's ability to adapt to changing conditions and support the economy efficiently. In times like these, the strength of the financial sector isn't measured by its size or pace of growth alone, but by its ability to adapt and keep operating under a range of conditions. None of this is complete without the human talent capable of developing these technologies and managing their risks."

He outlined the Ministry's focus on sustaining the impact of the Kingdom's economic transformation and translating new growth opportunities into more efficient markets, more dynamic capital flows and a stronger financial sector, while highlighting the resilience Saudi Arabia's financial system has demonstrated amid changing global economic conditions.

The opening day also saw a series of announcements demonstrating the pace of investment and collaboration across the financial services ecosystem. Regional payments app Tabby announced a Series F funding round at a USD 6.5 billion valuation, which it says has allowed it to secure consumer financing and build teams to service customers across much more of their financial lives.

Meanwhile, Silq and Joa Capital announced a SAR 500 million partnership that will enable Silq, which currently serves more than 50,000 SMEs, to support even more start-ups and small businesses with access to working capital and financing.

Beyond the day's announcements, discussions across the programme examined how financial systems can continue to innovate and scale while maintaining stability. In a session titled ‘Designing Financial Systems that Scale Safely,’ a panel of global experts discussed the importance of balancing innovation, competition and systemic stability.

Turky A. Kabarah, Director of Fintech Enablement Financial technology, Saudi Central Bank (SAMA), said regulations are not a barrier to innovation, but rather encourage it, explaining: “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.”

Fellow panellist  Balaji Rajagopalan, CTO at the State Bank of India, added that stability and customer use must be at the forefront when designing any financial system. He said: “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 future of sovereign money was also discussed during a panel titled “Deep Dive: Designing Sovereign Money – Inside CBDC Architecture.” The panelists agreed that there is a need for digital currencies designed by central banks in markets where cash payments still dominate. The discussion also touched on how digital currencies may well be used by machines, rather than humans.

Dr Saeeda Jaffar, Managing Director at International, Circle, said: "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 scale and diversity of the opening day reflected Money20/20 Middle East's role as a meeting point for the global financial ecosystem, bringing institutions, investors, regulators, fintech companies and technology leaders together in Riyadh.

Mike Champion, CEO of Tahaluf, said: "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 continues at the Riyadh Exhibition & Convention Centre in Malham through 16 September, with further announcements, investment activity and industry discussions expected across the remaining two days.

Registration and further information are available at www.money2020middleeast.com.

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About Money20/20 Middle East

Money20/20 Middle East is the region’s home for the global money ecosystem a platform that unites regulators, banks, fintechs, investors, and technology innovators to accelerate the future of financial services. Through world-class content, high-impact networking, and landmark announcements, the event positions Saudi Arabia at the heart of global fintech innovation.

About Money20/20

Money20/20 is the world’s leading premium content, sales, and networking platform for the global money ecosystem, with flagship shows in Amsterdam (Europe), Las Vegas (USA), Bangkok (Asia), and Riyadh (Middle East). Part of Informa, Money20/20 is where the industry’s smartest visionaries and innovators come together to create the future of money. In 2025, Money20/20 Middle East was recognised as Best International Show Middle East at the AEO Excellence Awards, reflecting its growing influence and impact on the global fintech landscape.

About Tahaluf

Tahaluf is a leading events company in Saudi Arabia, delivering world-class platforms that ignite innovation across key global industries. Through flagship events such as LEAP, Black Hat MEA, and Money20/20 Middle East, Tahaluf connects global experts, visionaries, and organisations to shape the future through collaboration, creativity, and technology.