Introducing the Sector

During the year 2022, the PCMA worked on enhancing the role of financial technology in the non-banking financial sector, and opening horizons for financial service providers, innovators, and pioneers with financial technology solutions, while ensuring the protection of the rights of users of these technological solutions and services, and maintaining financial stability.

The Directorate of Digital Finance Services and Innovation has worked in accordance with its five-year strategy 2021-2025, which aims to promote the use of financial technology in the non-banking financial sector, and in accordance with the approved plans and work programs, which aim to create an encouraging and friendly environment for innovations and solutions based on financial technology, due to the significant impact of these technological services and solutions in reducing the cost of providing these services and increasing their horizontal expansion.