Riyadh - Sharikat Mubasher: Saudi Arabia’s Ministry of Finance (MoF) signed a cooperation agreement with Alrajhi Bank, Arab National Bank (ANB), and Simplified Financial Solutions Company (SiFi) to drive digital transformation in the Kingdom.
This partnership aims to contribute to realizing the Financial Sector Development Program's goal of raising the share of non-cash transactions, in alignment with Vision 2030, the ministry announced in a statement.
The agreement was signed by Hamad AlKanhal, Deputy Minister for Financial Affairs and Accounts, Ahmed AlHakbani, CEO of SiFi, Khaled Alrashed, Head of Retail Banking Group at ANB, and Hossam Al Basrawi, General Manager of Corporate Banking at Alrajhi Bank, in the presence of Assistant Minister of Finance for Financial Affairs Haitham Altraif.
The agreement came as part of the ministry’s efforts to activate partnerships with the private sector to enhance financial control and achieve Vision 2030 goals.
AlKanhal stated that the agreement underscored the ministry’s commitment to sustaining and utilizing the national financial resources efficiently, adopting advanced methods for cash disbursement using bank cards through several e-channels, and building a clear vision that enhances the financial decision-making process.
Moreover, the agreement aims to allocate and manage financial resources efficiently by analyzing financial data to perfectly leverage the country’s assets.
