Four announcements between October 2025 and October 2026, three of them made at financial-sector events, matter most to a firm planning to license or operate in the Kingdom. At Money20/20 Middle East in September 2026, the Governor of the Saudi Central Bank (SAMA) said open banking had moved from the sandbox to commercial licensing. At Cityscape Global in November 2025, the first property title-deed tokenization took place under the direct supervision of the Real Estate General Authority (REGA). It ran on new Real Estate Registry infrastructure. At ingate in November 2025, the Insurance Authority (IA) launched a Reg-Tech Hub and issued new licences. On 6 January 2026 the Capital Market Authority (CMA) announced that the Main Market would open to all foreign investors from 1 February.
Four announcements change the licensing picture
| Announcement | Where and when | Authority | Why it matters to an applicant |
|---|---|---|---|
| Open banking moved from sandbox to commercial licensing; 371 fintechs by end August 2026 | Money20/20 Middle East, 15 Sep 2026 | SAMA | Open banking is now a commercial licensing track. SAMA counted 371 fintechs already operating. |
| First property title-deed tokenization, from the National Housing Company (NHC) to investors, and national tokenization infrastructure | Cityscape Global, 17 Nov 2025 | REGA and the Real Estate Registry | Tokenized property runs inside REGA's framework and sandbox, with state infrastructure underneath |
| Main Market opened to all foreign investors from 1 Feb 2026, removing the Qualified Foreign Investor (QFI) regime and swap framework | CMA announcement, 6 Jan 2026 | CMA | Foreign investors no longer need the QFI route to buy Main Market shares |
| Reg-Tech Hub, Insurance Data Lake and new insurance and brokerage licences | ingate, 10-12 Nov 2025 | Insurance Authority | Insurtechs have a named regulatory technology programme, and the authority is issuing licences |
Saudi fintech events 2026 and late 2025, in date order
The table below covers the financial-sector expos, conferences and forums we could confirm were held in Riyadh and elsewhere in the Kingdom between October 2025 and October 2026. Where an event produced no regulatory announcement we could find, the table says so.
| Date | Event | Organiser | Headline financial-sector announcement |
|---|---|---|---|
| 26-27 Oct 2025 | Global PropTech Summit (2nd edition), Riyadh | REGA with NHC Innovation | 100+ speakers from 85 countries; no specific regulatory or tokenization announcement found |
| 27-30 Oct 2025 | Future Investment Initiative (FII9), Riyadh | FII Institute | Over $50bn in agreements and pledges, mainly AI, energy and infrastructure; BlackRock and the Public Investment Fund (PIF) announced two Riyadh funds |
| 5-8 Nov 2025 | Biban 2025, Riyadh Front | Monsha'at | More than SAR 38bn in agreements and financing initiatives, with finance companies and fintech lenders prominent |
| 10-12 Nov 2025 | ingate (1st edition), Riyadh | Insurance Authority | Reg-Tech Hub, Insurance Data Lake, digital-maturity project, new insurance and brokerage licences |
| 17-19 Nov 2025 | Seamless Saudi Arabia 2025, Riyadh | Terrapinn with the Arab Federation for Digital Economy | Payments and e-commerce expo; no regulatory announcements found |
| 17-20 Nov 2025 | Cityscape Global 2025, Riyadh | Tahaluf, with the Ministry of Municipalities and Housing and REGA | First title-deed tokenization under REGA supervision; Real Estate Registry tokenization infrastructure launched |
| 26-28 Jan 2026 | Real Estate Future Forum (5th edition), Riyadh | Under the patronage of Minister Al-Hogail, REGA board chair | Four PropTechs ran live tokenized transactions in a controlled environment (per SettleMint); recommendations call for incentives for tokenization |
| 8-9 Feb 2026 | AlUla Conference for Emerging Market Economies (2nd edition) | Ministry of Finance and IMF | Macro-policy forum; no Saudi licensing announcements |
| 9-10 Feb 2026 | PIF Private Sector Forum 2026, Riyadh | PIF | 135+ MoUs worth more than SAR 60bn; 31 real-estate opportunities worth more than SAR 70bn |
| 11-14 Feb 2026 | Restatex Riyadh Real Estate 2026 | REGA as legislative partner | REGA presented off-plan sales, brokerage and real-estate contribution rules |
| 28-30 Apr 2026 (planned) | Capital Markets Forum, Riyadh | Saudi Tadawul Group | Postponed |
| 29-30 Jun 2026 | Global Blockchain Show Riyadh | VAP Group | Organiser figures only; no regulatory announcements found |
| 31 Aug to 3 Sep 2026 | LEAP 2026, Malham (moved from April) | Ministry of Communications and Information Technology (MCIT), Tahaluf and partners | About $15bn in announcements, mainly AI, cloud and data centres; nothing fintech-specific |
| 14-16 Sep 2026 | Money20/20 Middle East 2026, Malham | Hosted by the Financial Sector Development Program (FSDP), SAMA, CMA and IA; co-organised by Tahaluf and Fintech Saudi | SAMA Governor's keynote; open banking moved to commercial licensing; SAMA and Qatar Central Bank card acceptance deal |
Payments and open banking: Money20/20 Middle East 2026
Money20/20 Middle East is where the SAMA Governor gave his fintech figures in both 2025 and 2026. The 2026 edition ran from 14 to 16 September at the Riyadh Exhibition and Convention Centre in Malham, hosted by the FSDP, SAMA, the CMA and the Insurance Authority.
The SAMA Governor's figures
In his keynote on 15 September 2026, published by the BIS, the SAMA Governor gave these figures:
- 371 fintechs operating in the Kingdom by the end of August 2026
- electronic payments at 85% of retail payments in 2025
- more than 337,000 accounts connected through open banking
- cumulative fintech investment above SAR 30bn by the end of the first half of 2026
He also said open banking had moved from the sandbox to commercial licensing, and that SAMA was working more closely with global regulators on stablecoins.
For context, the Governor's keynote at the 2025 edition said the number of fintechs had grown from 82 in 2022 to 281 by August 2025, and gave cumulative fintech investment of SAR 8.9bn by July 2025. SAMA also announced an e-Services licensing portal at that event. A Zawya release from the 2026 event gives a different open-banking account figure; we use the BIS text because it is the Governor's published speech.
Cross-border cards and new entrants
On 15 September 2026, Qatar Central Bank announced that it and SAMA had agreed a phased mutual acceptance of mada cards in Qatar and HIMYAN cards in Saudi Arabia.
According to the event's day-two press release, barq announced a $329.5m Series A at a $1.85bn valuation, and Network International launched merchant acquiring in the Kingdom. The barq figures and the Network International launch come from the release and were not independently confirmed.
Real-estate tokenization: from Cityscape to the REGA sandbox
Tokenized property moved from announcement to pilot transactions during the year, all inside REGA's framework. It remains a REGA sandbox activity, and the CMA has not issued a tokenization rulebook.
Cityscape Global 2025
On 17 November 2025, the Minister of Municipalities and Housing, Al-Hogail, announced the first property title-deed tokenization, a transfer from NHC to investors under direct REGA supervision. Ledger Insights reported that the trades ran on Real Estate Registry blockchain infrastructure built with SettleMint and Inspire for Solutions Development.
SettleMint's own release, issued around 20 November 2025, describes the national infrastructure as covering blockchain title management, fractional ownership and Shariah-compliant structures, with integration into Absher, Nafath and mada. It names a national tokenized marketplace and an open API as later stages but gives no dates.
The organiser reported $63bn in deals, 164,000+ attendees and 577 exhibitors, with $43bn announced in the first two days.
Real Estate Future Forum 2026
The fifth Real Estate Future Forum ran from 26 to 28 January 2026 at the Four Seasons Hotel in Riyadh. According to SettleMint, four PropTechs (Sahl, Madak, Ghanem and Jozo) completed tokenized transactions there in a controlled environment, integrated with Yakeen and Sadad. The forum's closing recommendations called for incentives for tokenization. Amlak reported more than 10,000 participants from 140 countries and over 80 agreements.
The forum came four days after the non-Saudi real-estate ownership law entered into force on 22 January 2026. Applications go through the Saudi Properties portal, and ownership in Makkah and Madinah is restricted.
REGA's second sandbox and what is still pending
SPA reported that REGA opened its second regulatory sandbox on 13 February 2026, and the sandbox includes tokenization. Argaam set out the stages: application (up to 30 working days), readiness assessment (up to 120 working days), testing (6 to 24 months) and exit. Sandbox acceptance is not full regulatory approval. A PropTech applying in November 2026 could spend up to 150 working days (roughly seven months) in application and readiness assessment before testing begins.
In April 2026, Enterprise reported that Ghanem was licensed in REGA's sandbox, that a June 2026 rollout was targeted, and that no secondary trading platform existed yet. It also reported that permanent licensing depends on a national tokenization law pending final approval.
| Item | Status at 11 Oct 2026 |
|---|---|
| Real Estate Registry tokenization infrastructure | Live |
| PropTechs in REGA's sandbox | Live, Ghanem confirmed |
| Pilot tokenized transactions | Completed |
| National tokenization law | Passage not confirmed |
| June 2026 public rollout | Not confirmed |
| Secondary tokenized marketplace | Not confirmed |
| CMA tokenization rulebook | None |
Our real-estate tokenization guide covers the sandbox route in more detail.
Insurance: ingate launched a Reg-Tech Hub and issued licences
ingate, the Insurance Authority's first Global Insurance Conference and Exhibition, ran in Riyadh from 10 to 12 November 2025. The authority used it to launch three programmes: a Reg-Tech Hub, an Insurance Data Lake and a digital-maturity project. It also issued new insurance and brokerage licences, though the reports we reviewed do not name the recipients.
The IA Chairman said the market and premiums were expected to double within five years. Argaam reported in November 2025 that the new insurance law had completed initial reviews. As of October 2026 it is still a draft as far as published sources show, so insurtechs should plan against the current rules and confirm the position with the Insurance Authority. The event drew about 9,000 visitors and produced more than 22 MoUs.
Investment and capital markets: FII9, PIF forums and the CMA opening
The largest capital markets change was a CMA announcement made outside the event calendar. On 6 January 2026, the CMA said the Main Market would open to all foreign investors from 1 February 2026, removing the QFI regime and the swap framework. Foreign ownership of the market stood above SAR 590bn at the end of the third quarter of 2025.
FII9 ran in Riyadh from 27 to 30 October 2025 with more than 9,000 delegates and over $50bn in agreements and pledges, mostly in AI, energy and infrastructure, according to Mubasher. The most relevant item for asset managers came on 29 October at the PIF Asset Management Forum, held alongside FII9. BlackRock and PIF announced two new BlackRock Riyadh Investment Management funds, subject to approvals: one in Saudi systematic active equities and one in MENA fixed income.
The PIF Private Sector Forum on 9-10 February 2026 produced more than 135 MoUs worth over SAR 60bn and presented 31 real-estate opportunities worth over SAR 70bn.
SME finance: Biban 2025 put fintech lenders on stage
Monsha'at's Biban 2025 forum, held 5-8 November 2025 at Riyadh Front, closed with more than SAR 38bn in agreements and financing initiatives. Finance companies and fintech lenders were prominent. Arab News reported Day 4 announcements including Lendo at SAR 6bn, Tamweel Aloula at SAR 1.2bn and Taajeer at SAR 500m.
For a lender planning a finance company licence, Biban is where the SME financing market shows up in person. The figures are announced agreements and initiatives, and they tell you little about how much finance was actually drawn.
What was postponed or moved
Saudi Tadawul Group's Capital Markets Forum, planned for 28-30 April 2026, did not go ahead on those dates. A Bloomberg headline on 27 March 2026 reported that Riyadh and Dubai were delaying finance events because of regional disruption. A March 2027 date has circulated, but we could not confirm it from a primary source.
LEAP 2026, originally planned for April, ran from 31 August to 3 September 2026. Asharq Al-Awsat reported about $15bn in announcements, mainly in AI, cloud and data centres, with nothing specific to fintech.
What this means if you're applying for a licence
- Open banking firms now apply into a commercial licensing track. Read our open banking licence guide and be ready to show how your service differs from providers already connected to more than 337,000 accounts.
- Payment and e-money firms face a market where 85% of retail payments were already electronic in 2025. Your business plan has to explain why there is room for you. Our payment institution licence and e-money licence guides cover the two main routes, and the full list of SAMA routes is on our licensing page.
- PropTech and tokenization firms enter through REGA's sandbox, with up to 150 working days before testing starts and 6 to 24 months of testing. Plan your funding around that timeline, and see our digital assets page for where the regulatory perimeter sits.
- Firms interested in crypto should read the Governor's stablecoin remark carefully. It described cooperation with global regulators. There is still no virtual asset service provider (VASP) or crypto-exchange licence in Saudi Arabia.
- Asset managers and brokers with foreign clients should note that those clients no longer need QFI status to invest in the Main Market. The relevant permissions are covered in our CMA licences guide.
- Insurtechs should follow the Reg-Tech Hub and plan against the current rules until the draft insurance law is enacted.
If you would like a second view on how these changes affect a specific application, Saudi Compliance can review your plan with you through our contact page.
Upcoming events to watch
| Date | Event | What to watch |
|---|---|---|
| 26-29 Oct 2026 | FII10, Riyadh | Tenth anniversary edition; investment pledges and PIF announcements |
| 16-19 Nov 2026 | Cityscape Global 2026, Riyadh | Any update on tokenization rollout, the marketplace stage or the tokenization law |
| 18-20 Jan 2027 (date announced by organisers) | Real Estate Future Forum (6th edition), Riyadh | Follow-up on the 2026 tokenization recommendations |
| Not confirmed | Capital Markets Forum, Riyadh | New date; March 2027 has circulated but is unconfirmed |
Sources
- BIS: SAMA Governor keynote speech at Money20/20 Middle East 2026
- BIS: SAMA Governor keynote at Money20/20 Middle East 2025
- QNA: Qatar Central Bank announces acceptance of HIMYAN and mada cards in Qatar and Saudi Arabia
- Zawya: Money20/20 Middle East day two sees landmark Saudi-Qatar payments agreement
- Cityscape Global: Cityscape Global opens in Riyadh with $43bn worth of deals announced
- Cityscape Global: Welcome to Cityscape Global 2026
- Amlak: First title-deed tokenization announced at Cityscape Global
- Ledger Insights: Saudi Arabia real estate tokenization
- SettleMint: Kingdom of Saudi Arabia launches national real estate tokenization infrastructure
- SettleMint: SettleMint supports KSA's first tokenised real estate transactions
- Amlak: Real Estate Future Forum 2026 closing recommendations
- REGA: Non-Saudi property ownership system enters into force
- Argaam: REGA launches second regulatory sandbox
- SPA: REGA second regulatory sandbox
- Enterprise: Under the hood of the Kingdom's shift to digital real estate deeds
- APP: ingate Global Insurance Conference and Exhibition concludes in Riyadh
- Argaam: Insurance Authority announcements at ingate
- Insurance Authority: Home
- CMA: Main Market opened to all foreign investors
- Mubasher: FII9 ends with over $50bn in deals and investment pledges
- Gulf News: BlackRock and PIF strengthen Riyadh investment platform with new Saudi and MENA mutual funds
- Mubasher: PIF Private Sector Forum 2026 sees MoUs worth over SAR 60bn
- Mubasher: Monsha'at wraps up Biban 2025 with record SAR 38bn in deals
- Arab News: Biban 2025 Day 4 financing announcements
- Mubasher: Global PropTech Summit commences in Riyadh
- Arab Federation for Digital Economy: Seamless Saudi Arabia 2025
- IMF: 2026 AlUla Conference for Emerging Market Economies
- Al-Eqtisad: Restatex Riyadh Real Estate 2026
- GCC Business News: Global Blockchain Show Riyadh
- Asharq Al-Awsat: LEAP 2026 announcements
- Bloomberg: Riyadh, Dubai delay finance events as Iran war disrupts region
- Fortune: FII 10th anniversary, Riyadh 2026
General information, not legal advice. Saudi rules change; we confirm every requirement against the regulator's current text before you file.