FSDP issues 2024 annual report

The Financial Sector Development Program (FSDP) issued its 2024 annual report, highlighting its achievements over the past year and future objectives within the framework of Saudi Vision 2030.

The report outlines key projects and initiatives implemented to support the development of the financial sector and bolster economic growth.

In a statement marking the report’s release, Minister of Finance and Chairman of FSDP Committee Mohammed Al-Jadaan said the program is proceeding successfully, in line with Vision 2030.

It contributes to the building of a robust economic future that strengthens the Kingdom’s regional and global standing, reflecting the scale of transformation across all sectors, he noted.

The program significantly boosted the role of financial technology (fintech) in 2024, with the number of licensed fintech companies reaching 261 by year-end.

Additionally, the Saudi Central Bank (SAMA) approved the launch of D360 Bank, while the share of e-payments rose to 79% of total individual transactions in 2024.

Al-Jadaan also highlighted the continued momentum in the Saudi capital market, supported by enhanced regulatory frameworks and a business-friendly environment, in addition to approving the listing of 44 new companies, bringing the total to 353 companies by the end of 2024.