Banking & Finance
$40 million to invest in Saudi technology startups
Agreements aim to promote entrepreneurship in various fields
Agreements reflect Dussur’s appetite to invest in Saudi industrial sector
SAMA reaffirmed commitment to support finance and payments sectors
Several programs were signed, initiatives launched and agreements
The conference continued under the slogan "We Reinvent, We Renew"
Saudi Ministry of Investment grants 4 licenses to start-ups, one VC fund
Fund will invest in companies developing new tech or improving existing ones
It announced cash dividends of 70.3 billion riyals
22 localization and capacity building agreements were announced
Non-oil sector constituted 88% of the total increase in actual revenues
It’s the second such increase since 2019
BNPL is framed as an interest-free alternative to credit card payments
PIF’s ranking rose to sixth in the world, having compiled assets worth $580 billion
