Riyadh, November 21, 2025, SPA -- The Saudi Central Bank (SAMA), in cooperation with the Bank for International Settlements (BIS), concluded yesterday the Innovation Summit in Riyadh, which was held with the participation of SAMA Governor Ayman Al-Sayari and BIS General Manager Pablo Hernández de Cos, alongside several central bank governors and experts from the region and around the world. The two-day summit brought together experts and policymakers to discuss the opportunities and challenges posed by technological innovation in the financial sector, as well as the role of central banks from the Middle East and Africa in facilitating technological advancements while safeguarding financial stability.
Discussions focused on the current state of international efforts to develop payment systems, including evaluating the progress made in implementing the G20 Roadmap of cross-border payments—designed to enhance systems and address associated challenges—and other efforts to modernize infrastructure for high-speed, low-cost, more secure, and transparent cross-border transactions, encompassing multilateral cooperation. The summit also covered the implications of emerging technologies, the regulatory framework for risk mitigation, and the necessary balance between innovation and financial stability. Established in 1930 in Basel, Switzerland, the BIS is the world’s oldest international financial institution that plays a crucial role in shaping policies and best practices to enhance the resilience of the global financial system. Al-Sayari was recently elected to the BIS Board of Directors, which comprises governors representing 16 of the world’s major economies, in addition to the European Central Bank.
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