Saudi Cabinet approves fintech strategy

24/05/2022 Argaam

Custodian of the Two Holy Mosques King Salman bin Abdulaziz

Saudi Arabia’s Cabinet, chaired by King Salman bin Abdulaziz, approved today, May 24, the financial technology strategy.

 

According to the Saudi Press Agency (SPA), the Council agreed to add a paragraph no. 4 to cabinet resolution No. 51, stipulating that the General Court of Audit (GCA), in coordination with the Ministry of Finance, prepares a standard code and classification guide for inventory items in government agencies, updates and circulates it to the entities covered under its supervision.

 

In addition, GCA will follow up with the code to ensure compliance with the coding and classification of the United Nations standard products and services codes.

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