Riyadh – Sharikat Mubasher: Saudi Arabia’s digital economy is expanding rapidly, with the private sector now driving 68% of its output compared to a 32% contribution from the public sector, Mohammed Khawaja, co-founder of Fikr Ventures, told Asharq Business.

Khawaja added that banks across the Kingdom have become key backers for financial technology products, strengthening the country’s fintech ecosystem, unlike the situation 10 years back. Cybersecurity is also playing a critical role in protecting fintech companies, a factor that continues to boost investor confidence in the sector.

 Khawaja further added that the strong private-sector presence and the growing cybersecurity framework are pivotal to sustaining Saudi Arabia’s digital transformation momentum.