FII discusses enhancing the digitalization of global investment
The third and final day of the Future Investment Initiative (FII) in Riyadh, currently held at the King Abdulaziz Conference Center in Riyadh, kicked off its first session entitled “Transforming Banking and Investment Businesses for a Resilient Economy,” during which the CEO of the Export-Import Bank, Eng. Saad bin Abdulaziz Al-Khalb, spoke.
During the session, the discussion revolved around the fact that technology continues to affect banking and financial practices as the economy begins to transform in the post-Corona pandemic world, its global economic repercussions, and the World Bank’s assertion that two-thirds of adults around the world are now making or receiving their digital payments.
The session also touched on the trends of digitalization in investment, that existing banking services will remain, and its impact on the future of private investment and digital banking services. How have banks responded to the changing habits of consumers and businesses?
Eng. Al-Khalb confirmed that the main objective in the Kingdom is to secure Saudi exports, and support global trade and long-term global projects. He also added that the bank’s main tasks are to provide the necessary credit for exports, facilitate exports, and develop financial institutions through government support for foreign trade.
He pointed out that there is no decline in the Saudi economy during the Corona pandemic or geopolitical tensions and high-interest rates. The Kingdom of Saudi Arabia has a system that can intervene and provide the necessary support for commercial activities and cross-border transactions.
He explained that the Kingdom has the initiative for logistics services; to enable global trade through the use of capabilities because the geographical location of the Kingdom is a strategic center linking three continents with an integrated system interconnected with Africa.
He pointed out that investment banks and financial institutions have turned into banks that support exports and trade, and that the Kingdom’s Vision 2030 continues to expand, making the Kingdom a logistical center to support the world in addition to other strategies.
