The Saudi Central Bank (SAMA), in cooperation with the Bank for International Settlements (BIS), hosted the Innovation Summit for the Middle East and Africa region in Riyadh on 19–20 November 2025, focusing on opportunities and challenges from technological innovation in finance and the role of central banks in supporting innovation while safeguarding financial stability. Discussions included international work to develop and modernise payment systems, including progress on implementing the G20 Roadmap for cross-border payments and related challenges, as well as broader efforts to build cross-border payments infrastructure that is faster, lower cost, more secure and transparent. The agenda also covered multilateral international cooperation, the implications of emerging technologies, and the regulatory frameworks needed to mitigate associated risks and balance innovation with financial stability.
Saudi Arabian Monetary Authority 2025-11-20
Saudi Arabian Monetary Authority and the Bank for International Settlements host Middle East and Africa Innovation Summit on payments modernisation and emerging technology risks
The Saudi Central Bank and the Bank for International Settlements hosted the Innovation Summit in Riyadh, focusing on technological innovation in finance and central banks' roles in supporting it while ensuring stability. Discussions covered payment system modernization, the G20 Roadmap for cross-border payments, and regulatory frameworks balancing innovation with stability, as well as multilateral cooperation and emerging technologies' implications.