SAMA Governor says 371 fintechs operating in KSA by August-end

Saudi Arabia is witnessing notable growth and accelerated progress in adopting e-payment channels, says SAMA Governor Ayman Al-Sayari

Saudi Central Bank (SAMA) Governor Ayman Al-Sayari said the number of fintech companies operating in Saudi Arabia reached 371 by the end of August 2026.

Speaking at the Money20/20 Middle East conference, Al-Sayari added that cumulative investment in the fintech sector exceeded SAR 33 billion by the end of H1 2026 through venture capital and strategic financing.

The fintech sector has seen exceptional growth over the past 12 months, achieving significant development and expansion in innovative activities and solutions. These indicators reflect the scale and strength of the Kingdom’s fintech sector, the Governor said.

Saudi Arabia is also witnessing notable growth and accelerated progress in adopting e-payment channels, with e-payments accounting for 85% of total payment transactions in the retail sector by the end of 2025, he added.

Al-Sayari also explained that open banking services had advanced qualitatively, transitioning from the regulatory sandbox environment to the licensing stage. As a result, more than 337,000 active users currently use such services.

He said SAMA has strengthened its ongoing cooperation with peer global regulatory authorities on stablecoins and virtual assets to assess risks and develop the necessary safeguards, ensuring that Saudi Arabia remains a responsible and balanced participant in these asset markets.