Saudi Arabia has introduced Makken, a new initiative in the realm of financial technology, designed to strengthen and cultivate the sector within the Kingdom.

This initiative represents a continuation of the ongoing collaborative efforts between Saudi Central Bank – SAMA and Capital Market Authority (CMA) to foster and advance the fintech landscape, operating under the broader scope of the Financial Sector Development Program. Makken's primary objective is to empower 150 emerging fintech companies within three years, directly contributing to the sector's progression and nurturing its growth potential.