SAMA Assets Reach Highest Level in 5 Years

The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)
The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)
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SAMA Assets Reach Highest Level in 5 Years

The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)
The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)

The total assets of the Saudi Central Bank (SAMA) surpassed SR2 trillion (USD535 billion) in July, for the first time in five years.

According to the data announced in the monthly statistical bulletin issued by SAMA on Sunday, the assets of the Saudi Central Bank recorded a growth of SR156.7 billion, compared to July 2021.

Moreover, Saudi Arabia’s foreign reserve assets increased by 5.1 percent at the end of July, on an annual basis, reaching SR84.49 billion (USD22.53 billion).

On the other hand, the Saudi Central Bank’s investments in foreign securities, which represent about 57 percent of its total assets, declined to about SR1,124 billion, by the end of July.

Meanwhile, the deputy minister of Commerce and General Supervisor of the Saudi Center for Economic Affairs, Dr. Iman Al-Mutairi, revealed that the center, which was established in March 2020, has implemented 450,000 different services provided by the concerned authorities in 12 branches across the Kingdom.

Her remarks came during a visit to the center’s Riyadh branch, conducted by the Saudi minister of Commerce, Dr. Majid Al-Qasabi, accompanied by the minister of Justice, Dr. Walid Al-Samaani, and the Chairman of the Council of Experts in the Council of Ministers, Mohammad Al-Ajaji.

The visit took place on the sidelines of the third meeting of the Legal Committee of the National Competitiveness Center, with the participation of the Assistant Chairman of the Experts Authority in the Council of Ministers, Bader Al-Hadab.

Mutairi noted that the branches facilitated services to the business sector, which are provided by the ministries of Commerce, Investment, Human Resources and Social Development, Municipal and Rural Affairs and Housing, the Zakat, Tax and Customs Authority, the General Organization for Social Insurance, and the Saudi Chambers of Commerce.

The center was established by a decision of the Council of Ministers with the aim of making the Kingdom one of the leading countries in the world in the quality and efficiency of government services directed to the business sector. It is organizationally linked to the Council of Economic and Development Affairs.



Gulf States Accelerate Adoption of Unified Digital Government Platforms

A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)
A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)
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Gulf States Accelerate Adoption of Unified Digital Government Platforms

A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)
A Tawakkalna app events in Saudi Arabia (Asharq Al-Awsat)

Gulf governments are moving swiftly to leverage modern technology in reshaping citizen-government relations, with a strong push toward digital transformation and more efficient, user-centric public services.

At the forefront of this shift are unified government applications that constitute comprehensive digital platforms that combine smart technology with seamless usability.

According to a recent study by Strategy& Middle East, a member of the PwC network, these platforms are no longer optional but have become strategic necessities.

The study, titled “Unified Government Apps: Smart Choices for Services and Cost Control,” highlights that citizens and residents can now complete services such as issuing birth certificates, renewing business licenses, or applying for social support within minutes, without physically visiting a government office.

Tawakkalna: A Saudi Model

Saudi Arabia’s Tawakkalna app, originally launched as a health tool during the COVID-19 pandemic, has since evolved into a comprehensive digital gateway offering over 1,100 government services.

Dr. Esam Al-Wagait, Director of the National Information Center at the Saudi Data and Artificial Intelligence Authority (SDAIA), noted the Kingdom’s aim to build a proactive digital government powered by AI.

“We are creating an integrated system that uses advanced technology to predict citizen needs and deliver personalized experiences aligned with smart and sustainable city goals,” he said.

Engineer Saleh Mosaibah, Deputy Director of the National Information Center, added that unified platforms enhance inter-agency collaboration, reduce operational costs, strengthen cybersecurity, and boost Saudi Arabia’s regional and global competitiveness.

Challenges and Solutions

Despite progress, the study noted operational and technical challenges remain, particularly around user expectations for faster, smoother service. Repeated logins and redundant data entry were identified as key obstacles.

Engineer Hani Zein, Partner at Strategy& Middle East, stressed the need for seamless, single-entry platforms powered by artificial intelligence.

“Unified interfaces are the future. They improve service delivery, enhance quality of life, and align with Gulf digital transformation goals,” he said.

Investment and Private Sector Integration

Experts stress that building such applications requires significant investment in IT infrastructure, data integration, and cybersecurity. “These are not just tech expenses, they are investments in smarter, more cost-efficient governance,” said Mosaibah.

The private sector also presents growth opportunities. Licensed companies could offer services through government platforms for a fee, or strategic partnerships could bring in private funding and innovation without straining public budgets.

Building a Sustainable Model

To ensure sustainability, Zein recommends a three-pillar approach: an agile operational model inspired by startups, strong legal and financial frameworks, and robust risk management systems. These foundations, he said, enable governments to move quickly, innovate freely, and maintain public trust.

With the right strategy, Zein and Mosaibah believe Saudi Arabia is well-positioned to set global standards for integrated digital government, offering a world-class experience for citizens and residents alike.