Riyadh, November 16, 2020, SPA — The Governor of the Saudi Arabian Monetary Authority (SAMA), Dr. Ahmed Abdulkarim Alkholifey, confirmed that the Kingdom of Saudi Arabia has achieved many accomplishments related to the agenda of coordinating policies, finding solutions and developing initiatives that enable the G20 to achieve the slogan of this year, “Realizing Opportunities of the 21st Century for All”.
In a statement to the Saudi Press Agency (SPA), Dr. Al-Khulaifi explained that the main priority for financial legislation was set under the title“ Framing Supervisory and Regulatory Issues for the Digital Era” and a number of basic priorities fall under this goal, most notably agreeing on roadmap to boost global cross-border payments, a historic step aimed at improving global cross-border payment arrangements.
Dr. Alkholifey indicated that the Kingdom’s presidency worked with the G20 countries and relevant international organizations to discuss the best ways to develop the digital infrastructure, in addition to coming up with many reports and supported studies, most notably the “G20 High-Level Policy Guidelines on Digital Financial Inclusion for Youth, Women, and SMEs”. These guidelines provide a set of featured policy options targeting financial inclusion gaps for youth, women, and SMEs through digital financial services in order to reach conditions in which all people can live, work and thrive; as well as utilize and share benefits of innovations and digitalization.
Source: Saudi Press Agency