Saudi finance minister opens Money20/20 Middle East in Riyadh

Saudi Arabia opened Money20/20 Middle East in Riyadh on Monday, with Finance Minister Mohammed Al-Jadaan framing the Kingdom’s financial sector as resilient, innovative and central to Vision 2030’s next phase. The event also featured major fintech news, including Tabby’s Series F funding round and a SAR 500 million partnership between Silq and Joa Capital.

Why it matters: - Saudi Arabia is using Money20/20 Middle East to position Riyadh as a regional hub for fintech, investment and financial infrastructure. - The opening came with major deal news that signals continued capital flow into the Kingdom’s financial technology sector. - The discussions underscored a broader policy goal: grow faster, but keep the financial system stable.

What happened: - H.E. Mohammed Al-Jadaan, Saudi Arabia’s Minister of Finance and Chairman of the Financial Sector Development Program Committee, opened the second edition of Money20/20 Middle East in Riyadh on Monday. - The event is being held at the Riyadh Exhibition & Convention Centre in Malham and runs through 16 September. - The 2026 edition is expected to draw more than 38,000 attendees, along with over 350 exhibiting brands, 390 speakers, more than 600 investors and 150 startups. - Money20/20 Middle East is hosted by the Financial Sector Development Program, Saudi Central Bank, Capital Market Authority and Insurance Authority, and co-organized by Fintech Saudi and Tahaluf. - Al-Jadaan delivered the opening keynote and toured the event with other senior Saudi officials.

The details: - Al-Jadaan said Saudi Arabia wants to keep innovating while staying disciplined, open to opportunities while maintaining oversight, and fast to adopt technology without compromising stability. - In his keynote, Al-Jadaan said Saudi Vision 2030 expanded financing and investment channels and created a more flexible legislative environment for fintech. - He said the Vision’s third phase is focused on sustaining the impact of economic transformation and turning new growth into a deeper, more competitive financial sector. - Al-Jadaan said the Kingdom has opened the door to new financial business models and technologies that help the sector adapt and support the economy efficiently. - He said the strength of a financial sector is not measured only by size or growth, but by its ability to adapt and keep operating under different conditions. - Al-Jadaan also said human talent is essential to developing new technologies and managing their risks. - Tabby announced a Series F funding round at a $6.5 billion valuation. - Tabby said the financing will help it secure consumer financing and build teams to serve customers across more of their financial lives. - Silq and Joa Capital announced a SAR 500 million partnership. - Silq said the deal will help it expand access to working capital and financing for startups and small businesses. - Silq currently serves more than 50,000 SMEs. - A session called “Designing Financial Systems that Scale Safely” focused on balancing innovation, competition and systemic stability. - Turky A. Kabarah, director of fintech enablement at Saudi Central Bank, said regulations should be viewed as a roadmap that helps fintech companies innovate and scale safely. - Balaji Rajagopalan, CTO at State Bank of India, said financial services must be built around the customer, with security and protection embedded throughout the journey. - Rajagopalan said resilience must be built into technology, processes and governance from the outset as AI becomes more integrated across finance. - A panel on sovereign money and central bank digital currencies said digital currencies designed by central banks are needed in markets where cash still dominates. - Dr. Saeeda Jaffar, managing director at Circle, said digital currencies are well suited to machine-driven transactions and that bots are already making many transactions.

Between the lines: - Saudi Arabia is using the conference to reinforce a message that regulation and innovation are not opposites. - The opening-day announcements suggest the regional fintech market still has room for large private investment, even as policymakers stress oversight and resilience. - The focus on digital currencies and AI shows the industry is thinking beyond payments and funding toward the infrastructure of future financial systems. - The event also serves as a signaling platform for Saudi Arabia’s ambitions under Vision 2030, not just a trade show.

What's next: - Money20/20 Middle East continues in Riyadh over the next two days with more announcements, investor activity and policy discussions expected. - Organizers said the remaining sessions will keep examining how financial systems can scale safely while supporting innovation. - Registration and further information are available at More information.