Global Financial Community Optimistic to Overcome Market Challenges and Build Stronger, Tech-Driven, Sustainable Future Economy
18.3.2023 12:23:00 EET | Business Wire | Press release
The second edition of the Financial Sector Conference (FSC 2023) has concluded in Riyadh, with a mood of optimism and energy to overcome market challenges to build a stronger, technology driven and sustainable economy of the future.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230317005086/en/
Courtney Powell, Chief Operating Officer and Managing Partner, 500 Global (Photo: AETOSWire)
Over 3200 participants from 82 countries, and 180 media, assembled in the Saudi capital to discuss the way ahead for the global financial community under the conference theme of “Promising Financial Prospects.”
Representatives from some of the biggest global financial institutions joined Government Finance Ministers met to identify the most effective road map for future growth and prosperity for the sector – enabling greater use of technology, diversification, cross border cooperation and embracing the green economy.
The conference also saw multiple MOUs and agreements signed to support real estate development; FinTech development and digital financing solutions worth billions of dollars and the National Bank of Iraq announced the start of operations in Saudi Arabia.
Concluding the conference, Saudi Central Bank Governor HE Ayman Mohammed Alsayari highlighted the Kingdom's efforts to provide an attractive environment for FinTech companies in line with the goals of Vision 2030 goals, and the vital role they play to support the growth of the private sector, to diversify the economy, and to stimulate saving, financing and investment.
Debating the important role of Venture Capital, Courtney Powell, Chief Operating Officer and Managing Partner, 500 Global, said: “Since we made our first investment in the Middle East in 2012, we have seen incredible growth and we have 14 companies today valued at over $100 million. The willingness of the government to support entrepreneurs combined with the opening up of the Kingdom shows it has the potential of becoming a leading global hub for entrepreneurship.”
In discussion about the future of global money flows, HE Giancarlo Giorgetti, Italian Minister of Economy and Finance stated: “In the financial sector, fragmentation induced by geopolitical tension will have strong implications by affecting global and financial stability, the cross-border allocation of capital, international payment systems, and asset prices.”
Financing for the SME sector was a key debating point on the final day of the conference with the enormous growth of the sector both in the Middle East and internationally. Tala Al Jabri, Board Member, Middle East VC Association (MEVCA) identified a major financing gap for the sector. He said: “95% of enterprises in the region are SMEs and the loan profile that goes to them is only 7% – which is the lowest in the world, indicating a massive gap.”
The FinTech sector in Saudi Arabia meanwhile is flourishing as Ziad Alyousef, Deputy Governor for Development and Technology, Saudi Central Bank (SAMA) explained: “In 2018, there were less than 10 companies operating in the FinTech community. Now, there are over 155 companies operating in the space in Saudi Arabia and this has led to increased investments and job creation."
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230317005086/en/
Contact information
Nawied Jabarkhyl
njabarkhyl@apcoworldwide.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
GigaDevice Extends European Reach with SEMITRON Partnership for DACH region12.2.2026 11:52:00 EET | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has entered into a distribution agreement with SEMITRON, a leading electronic component distributor that specializes with a focus on the DACH region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203746978/en/ Under the terms of the deal, SEMITRON is set to supply both GigaDevice's leading Flash, MCU, power and sensor lines in conjunction with field application engineering support to customers in the industrial, automotive and communication technology sectors. In particular, SEMITRON offers professional test house services, technical know-how and local on-the-ground expertise and support. The partnership further extends GigaDevice's reach into this major European market, with on the ground support in Germany, Austria, Switzerland. Jürgen Rohland, Managing Director of SEMITRON W. Röck Gmb
Samsung Ships Industry-First Commercial HBM4 With Ultimate Performance for AI Computing12.2.2026 11:48:00 EET | Press release
Samsung Electronics Co., Ltd., a global leader in advanced memory technology, today announced that it has begun mass production of its industry-leading HBM4 and has shipped commercial products to customers. This achievement marks a first in the industry, securing an early leadership position in the HBM4 market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260212674509/en/ Samsung Ships Industry-First Commercial HBM4 With Ultimate Performance for AI Computing By proactively leveraging its most advanced 6th-generation 10 nanometer (nm)-class DRAM process (1c), the company achieved stable yields and industry-leading performance from the outset of mass production — all accomplished seamlessly and without any additional redesigns. “Instead of taking the conventional path of utilizing existing proven designs, Samsung took the leap and adopted the most advanced nodes like the 1c DRAM and 4nm logic process for HBM4,” said Sang Joo
Sisvel Website Now Available in Chinese and Japanese12.2.2026 11:30:00 EET | Press release
Chinese and Japanese language versions of the Sisvel corporate website are now live, delivering an enhanced experience for users in two of the world’s key technology markets. The move also reflects the growing role of Asia-based innovators and implementers in Sisvel licensing programmes. The localised sites will enable more SEP licensing stakeholders to access patent pool information and programme details in their native languages. All versions of the website will be updated continuously to carry the full range of Sisvel news and insights. “Sisvel is deeply embedded in the markets where we operate,” says Sisvel Executive Head of Brand Giulia Dini. “Our expanded online presence in Asia, which also includes the recent launch of an official WeChat channel, aligns with our growing physical footprint in the region. We look forward to driving the global conversation on patent licensing and innovation.” In 2025, Sisvel appointed senior executives to run its operations in Japan and China. The
In the age of AI agents, Splio makes prediction the foundation of CRM and launches its AI-first CRM12.2.2026 10:30:00 EET | Press release
Splio announces the launch of its AI-first CRM powered by Tinyclues AI. Now integrated at the core of the platform, predictive AI helps brands orchestrate and personalize their communications at scale across every channel (email, SMS, RCS, WhatsApp...). Splio also unveils "Ask My CRM," its new AI agent designed as an intelligent marketing copilot that, plugged into each brand's customer data, makes customer knowledge easier to access, and speeds up day-to-day CRM management, from analysis to actionable recommendations. Splio made the strategic choice early on to invest in AI, especially with the acquisition of Tinyclues in 2023, to get ahead of rapid changes in the CRM Market. Today, the company runs an AI-first model with 30% of its annual recurring revenue coming from its AI offerings. Companies such as Air France, Fnac Darty, SNCF Connect, Samsung, as well as ETAM, Maisons du Monde, Mademoiselle bio, and Cyrillus in retail, already rely on Tinyclues AI on a daily basis. "We quickly
Stafford Capital Partners Announces New Renewable Energy Investment Strategy with Dedicated Team12.2.2026 10:00:00 EET | Press release
Stafford Capital Partners (“Stafford”), a leading international private markets investment and advisory firm, today announced the launch of a new strategy focused on the renewable energy sector. This initiative leverages the ongoing transformation and rapid growth within the renewables market, targeting the revamping and repowering of existing renewable assets to deliver compelling risk-adjusted returns while accelerating the transition to a low-carbon economy. This new strategic initiative further strengthens Stafford’s position in the global infrastructure investment market, providing institutions with access to a pioneering investment approach to renewable investing. This mirrors the differentiated approach Stafford has taken in developing its secondary market strategies across its real assets platform. The implementation of this strategy is driven by the integration of a dedicated 11-person team, based in Milan and Zurich, led by Angelo Prete. Stafford has worked successfully with
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom