Addressing Challenges and Opportunities of the Global Economy,
while Investing for Tomorrow with Digitalization Prioritized
Saudi Arabia to Launch 2nd Edition of Financial Sector Conference (FSC)
March 15-16, 2023 in Riyadh
Aljadaan: Saudi Economy Achieved Positive Results Due to Government's Proactive Policies and Effective Delivery
The 2nd Edition of the Financial Sector Conference (FSC 2023) organized by the Financial Sector Development Program partners )Ministry of Finance, Saudi Central Bank, and Capital Market Authority) will be held March 15-16, 2023 at the King Abdulaziz International Conference Center in Riyadh. It will be attended by decision-makers in the financial sector and senior executives in local, regional, and international financial institutions, as well as international investors, entrepreneurs, and prominent academics.
His Excellency, Minister of Finance and Chairman of the Financial Sector Development Program Committee Mohammed Aljadaan, described the event to the Saudi Press Agency (SPA) saying, “The launch of the 2nd Edition of the Financial Sector Conference comes at a critical time in the world as the regional and international financial community seeks to overcome the current challenges of the global economy, including slow growth, high inflation, and uncertainty, which have affected the global supply chain."
Aljadaan also said that the Kingdom is aiming to accelerate progress in line with Saudi Vision 2030 by executing structural reforms, including within the financial sector. Vision 2030 drives sustainable economic growth and improvement in the quality of life through the delivery of strategies, programs, and projects. These efforts will help achieve higher growth rates and provide employment opportunities. Vision 2030 also aims to provide improved services through enhancing the role of the financial sector, boosting local content, promoting national industry, while strengthening the Kingdom's financial position.
Aljadaan stressed that the Kingdom is positively positioned, thanks to its wise leadership in addressing the current global economic challenges, and instituting proactive policies which helped limit their impact. He also pointed out that the Saudi economy has achieved tangible economic and financial improvements during 2022, exceeding local and international forecasts.
FSC 2023 will build on the objectives of the first edition in 2019, which sought integration between the financial sector ecosystem with its various means and tools, contributing to continuous growth within a framework of robust and solid fiscal stability, while employing innovative tools in the development and management of services.
The FSC 2023 agenda includes a discussion of the key topics regarding the aspirations and concerns of the financial community. Participants will discuss the challenges and opportunities facing the global economy, supply chain constraints, a changing world order, the protracted pandemic, and other factors causing slow growth in many regions worldwide that affect the financial sector and its ecosystem.
The conference will explore the extent to which financial institutions are resilient and coping with the new financial landscape, which is characterized by rapid technology development, more emerging non-banking institutions, new economic realities, and changing demand. These aspects require the financial institutions to revisit their roles in the market, as well as the way they flexibly serve their clients to enhance their positions in the market.
Participants will discuss investing for tomorrow, which requires reviews of risk management strategies and product offerings, green investment/financing, new assets, new technology, and changing investor expectations. Participants will also address increasing interest rates, market fluctuations, and other new challenges and opportunities that aim to achieve safe investments for tomorrow.
The conference will conclude with extensive discussions about the future of the financial sector in light of digitization.
FSC 2023 contributes to the objectives of Saudi Arabia's Financial Sector Development Program (FSDP) and its initiatives aimed at achieving Saudi Vision 2030. It is organized by the FSDP partners, including the Ministry of Finance, the Central Bank of Saudi Arabia, and the Capital Market Authority. It is one of the most important events for the financial sector in the Middle East and for all institutions, policy makers, financiers, and beneficiaries.