Logo of Financial Sector Conference
The second edition of the Financial Sector Conference (FSC) begins today, Sept. 27, to discuss the environmental, social, and corporate governance as well as its implications on the financial sector.
The event, which will be attended by several government officials as well as local and international experts, will discuss the most prominent opportunities and the latest developments in the financial sector.
FSC is one of the initiatives of the Financial Sector Development Program (FSDP) that is part of the Kingdom's Vision 2030. The event is organized by the partners of the Financial Sector Development Program, represented by the Ministry of Finance, the Saudi Central Bank (SAMA), and the Capital Market Authority (CMA).
The conference is one of the most important platforms that attracts decision makers in the financial sector and top executives of financial institutions.
Several topics will be discussed, including the role of environmental, social, and corporate governance (ESG) in the global financial system.
The event will also discuss the following topics:
- Environmental system through ESG in the Kingdom: Opportunities and challenges.
- Increasing dominance of ESG for a sustainable economy.
- ESG and capital markets: The new investment landscape.
FSDP made several achievements over the past two years, as shown in the following table:
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Achievements of FSDP |
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2019 |
2020 |
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Real gross domestic product (GDP) grew by 0.03% compared with 2.4% in 2018. |
Saudi market ranked 24th globally in indicators related to the stock market compared to 26th in 2019. |
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The total amount of point-of-sale (POS) transactions increased by 25% year-on-year (YoY) to SAR 27.9 billion in December 2020, compared to SAR 22.3 billion a year earlier. |
Saudi Arabia ranked 12th in Venture Capital Availability Index in the Global Competitiveness Report |
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Tadawul All-Share Index (TASI) rose by 7.2% YoY, outperforming its GCC peers. |
A total of 11 new financial technology companies were licensed in the e-payment sector |
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SAMA announced that the rate of e-payments for retail banking reached more than 36% of the total by the end of July 2019. The program targeted a 28% rate by 2020. |
Some local banks launched the trial payment system, in preparation for the official launch in Q1 2021. |
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Credit from banks to the public and private sectors achieved a YoY growth rate of 7.6% in December 2019. |
The National Debt Management Center was named the best sovereign debt office in the Middle East and North Africa. |
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The financial derivatives market was launched to trade futures contracts as the first financial derivatives product traded in the Saudi market. |
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Completion of the inclusion of the Saudi market in the FTSE Russell index. |
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Directing to offer e-payment means for personal service and other retail activities. |
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Completing several licensing processes for 2020-21. |
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