Riyadh - Sharikat Mubasher: The total value of assets managed by robo-advisors in Saudi Arabia surged to exceed SAR 3.4 billion, up from SAR 300 million two years ago, according to Nayef Alabdulwahed, Director of Fintech at the Capital Market Authority (CMA).

In an interview with Asharq Business on the sidelines of the Money 20/20 Middle East, Alabdulwahed revealed that a total of SAR 1.2 billion in crowdfunding was extended to 1,100 small and medium-sized enterprises (SMEs).

He noted that this growth reflects Saudi Arabia’s commitment to creating an enabling investment environment.

The Money 20/20 Middle East conference takes place in Riyadh from 15 to 17 September, gathering over 350 speakers, 450 global brands, and 600 investors from over 40 countries.  

Co-organized by Fintech Saudi and Tahaluf, the conference addresses key topics shaping the future of the financial sector, including artificial intelligence (AI) in financial services, open banking and open finance, instant payments, and data governance and regulations. 

It also features dedicated platforms for investors and startups, such as the Executive Summit, The Majlis, and the Capital Stage, in addition to a special investor networking program.