A 30 strong delegation of UK fintech companies and investors is heading to Saudi Arabia to capitalize on the Kingdom’s financial services reforms.
The Kingdom is now well on track to become a regional fintech leader © Mena Today
A 30 strong delegation of UK fintech companies and investors is heading to Saudi Arabia to capitalize on the Kingdom’s financial services reforms.
The mission, organized by the Saudi British Joint Business Council, will cover a three-day programme in Riyadh, and runs from Jan. 29-31.
The visit comes as Saudi Arabia continues to lead the way for attracting investment, and was first in the Middle East and North Africa region in volume of venture capital in 2023, with a 33 percent growth to a record total of $1.4 billion.
The Kingdom is now well on track to become a regional fintech leader, with the sector representing between 60-70 percent of early-stage deal flow.
Saudi Arabia issued alerts on Thursday warning of potential danger in Yanbu, the kingdom's Red Sea oil export hub, as Yemen's Iran-aligned Houthis continue attacks on the kingdom that have opened another front in the US-Israeli war on Iran.
Saudi Arabia and Syria signed a cooperation agreement between the two countries' defense ministries on Wednesday, Saudi state news agency SPA reported, as Yemen's Iran-aligned Houthi group continues its missile and drone attacks on the kingdom.
Turkey's parliament is set on Wednesday to ratify a defence pact with Saudi Arabia and Pakistan that includes a collective defence clause, committing NATO's second-largest army to Riyadh's defence as it faces attacks by Yemen's Iran-backed Houthis.
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