SAMA Governor: Saudi announcement expected on massive investment in the fintech sector
Saudi Central Bank Governor announces major fintech investment and inflation stability
Translated by Qiyas from الراي — Original source
Bloomberg and Al Arabiya – Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), stated that the Kingdom’s technology sector is experiencing exceptional growth, with the number of fintech companies reaching 371 by the end of August last year.
Speaking at the Money 20/20 conference in Riyadh, he added that digital payments accounted for 85 percent of total payments in Saudi Arabia by the end of 2025.
Al-Sayari clarified that cumulative fintech investments exceeded 30 billion riyals (approximately $8 billion) by the end of the first half of 2026, noting that a major investment in the Saudi fintech sector is anticipated. He emphasized that increasing global uncertainty underscores the importance of the stability enjoyed by the Saudi economy.
He said that advancements in artificial intelligence are imposing a new reality on the global financial sector, adding that trust remains the foundation for measuring the success of AI developments in finance. He stressed the need to adopt a balanced approach between innovation and maintaining stability.
Regarding digital assets, he noted that the central bank has strengthened its cooperation with counterpart regulatory authorities worldwide on stablecoins and virtual assets, aiming to assess risks and develop necessary safeguards to ensure the Kingdom remains a responsible and balanced participant in these asset markets.
He affirmed that rapid developments in artificial intelligence and modern technologies are driving the world toward a new financial era characterized by real-time data flows and cross-border transactions, emphasizing the importance of building and maintaining trust in the future financial system while embracing innovation.
He pointed to the necessity of collaboration among regulators, entrepreneurs, and all stakeholders to establish flexible frameworks that foster innovation while preserving stability.
He added that SAMA is committed to supporting financial stability and enhancing confidence in the system through cooperation with various regulatory bodies and financial sector institutions, affirming that the future of financial technology will be shaped by achieving a balance between prudent innovation and stability, and by strengthening frameworks for shared cooperation to support sustainable growth.
In a separate development, data from Saudi Arabia’s General Authority for Statistics showed that the Consumer Price Index (inflation rate) remained stable for the fourth consecutive month in August last year, registering a year-on-year increase of 1.8 percent.
This was primarily attributed to a 3.9 percent rise in prices for housing, water, electricity, gas, and other fuels, a 1.4 percent increase in food and beverage prices, and a 2 percent rise in transportation costs.
Prices in the housing, water, electricity, gas, and other fuels category rose by 3.9 percent, driven by a 3.9 percent increase in actual rent for housing. This was followed by the personal care, social protection, and other goods and services category, which rose by 3.5 percent, fueled by a 13.3 percent increase in other personal effects, influenced by a 14.4 percent rise in the jewelry and watches category. The recreation, sports, and culture category followed with a 2.8 percent increase, driven by a 4.7 percent rise in holiday package prices.
Conversely, prices in the furniture, household appliances, and regular home maintenance category fell by 0.6 percent, while the clothing and footwear category declined by 0.5 percent.
The housing, water, electricity, gas, and other fuels category was the main contributor to annual inflation, accounting for 0.8 percentage points, followed by the food and beverages category with a contribution of 0.3 percentage points.
On a monthly basis, the Consumer Price Index (CPI) for August 2026 recorded a relative increase of 0.1 percent compared with July 2026. This was primarily driven by a 0.2 percent rise in the Housing, Water, Electricity, Gas, and Other Fuels category, fueled by a 0.2 percent increase in the actual rent for housing group.
