The 15th Middle East Financial Technology and Payments Exhibition and Conference (MEFTEC Payments) kicked off here today for the second consecutive year. The Governor of Saudi Arabian Monetary Authority, Dr. Ahmed bin Abdul-Karim Al-Khulaifi, stressed the importance of cooperation between various government sectors and local banks, pointing out that this has contributed to initiatives to develop the financial sector related to digital transformation, support for entrepreneurship and the development of financial technology to meet the aspirations and objectives of the Kingdom's vision 2030, and meet the requirements of the integrated work to achieve common goals. He added that one of the most important objectives that SAMA seeks to achieve in this context is to reduce the dependence on cash circulation through the continuous development of the infrastructure of national payment systems in order to facilitate the transition to a technical environment for payments, and a non-monetary society as one of the objectives of the Financial Sector Development Program. He also pointed out that the development being witnessed by digital payment systems in the Kingdom focuses on discussion among specialists and being briefed on the most important provision of the companies operating in this vital sector.
