Saudi Arabian Monetary Authority Launches 'Tanfeeth'

Saudi Arabian Monetary Authority Launches 'Tanfeeth'
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Saudi Arabian Monetary Authority Launches 'Tanfeeth'

Saudi Arabian Monetary Authority Launches 'Tanfeeth'

The Saudi Arabian Monetary Authority (SAMA) launched "Tanfeeth" program that aims to provide a direct link between the technological systems of government and the banks operating in the Kingdom for the sake of integration.

SAMA clarified that it seeks through the program to promote the level of cooperation with government agencies to overcome difficulties and obstacles that may face the joint work between SAMA and other entities.

Moreover, it aims to keep pace with the objectives of the Saudi Vision 2030, which focuses on benefiting from modern technologies and e-government applications in addition to upgrading the level of government services in a way that contributes to the reduction of administrative procedures and raises their quality and speed.

SAMA pointed out that the electronic link with Tanfeeth program ensures the confidentiality of information and informs judges thereof within the framework of the procedures of handling cases considered by them including personal status cases.

Governor of SAMA Dr. Ahmad al-Kholifey expressed gratitude to the ministry of justice as the first government authority with which the electronic linking procedures were completed.

Tanfeeth program was established based on the technological platform "Watheiq", which will transform the business sector of SAMA into an electronic service provider. 

This would occur by adopting the best and most reliable technological solutions, providing integrated linking between SAMA and other government technological systems benefiting from the services, and building connections with the financial sector.



Saudi Arabia Advances to Become the ‘Silicon Valley’ of Mining

The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)
The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)
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Saudi Arabia Advances to Become the ‘Silicon Valley’ of Mining

The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)
The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)

Saudi Arabia is pushing to become a global hub for critical minerals, aiming to be the “Silicon Valley” of mining. At the fourth Future Minerals Forum in Riyadh, the kingdom announced new deals, investment plans, and discoveries.
Industry Minister Bandar Al-Khorayef said Saudi Arabia will explore mineral opportunities across 50,000 square kilometers this year. The Kingdom also unveiled a $100 billion mining investment plan, with $20 billion already in advanced stages or under construction.
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Aramco has identified “promising” lithium concentrations exceeding 400 parts per million in its operational areas, with lithium production in the kingdom expected to begin as early as 2027.
In line with this, Aramco revealed a joint venture with Saudi Arabian Mining Company (Ma’aden) to explore and produce minerals critical to the energy transition, including extracting lithium from high-concentration deposits.
The latest edition of the Future Minerals Forum brought together over 20,000 participants from 170 countries and featured 250 speakers across more than 70 sessions.
Saudi ministers and international officials highlighted key challenges facing the mining sector, including the need for increased private sector investment, advanced technology, regulatory frameworks, supply chain issues, carbon emissions from production, and a shortage of skilled talent.
In early 2024, Saudi Arabia’s Ministry of Industry and Mineral Resources raised its estimate of the kingdom’s untapped mineral resources from $1.3 trillion to $2.5 trillion, driven by new discoveries.
At last year’s forum, the ministry launched a $182 million mineral exploration incentive program to reduce investment risks, support new commodities, promote green projects, and empower small-scale mining operators.
Additionally, Al-Khorayef launched the Mining Innovation Studio at the Future Mineral Forum 2025.
In his opening remarks, Al-Khorayef stated that the new studio was designed to attract global talent and accelerate cutting-edge technology, in alignment with Riyadh’s vision to become the “Silicon Valley of mining”.
He clarified that the Kingdom is promoting upcoming exploration opportunities across 5,000 square kilometers of mineralized belts in 2025 as it continues its steadfast growth in the mining sector.
Al-Khorayef further noted that the Saudi mining sector is the fastest growing globally, and affirmed that its mineral potential stands at an estimated $2.5 trillion.
He elaborated that the allocation of new exploration sites to tap mineral wealth is part of Saudi Arabia’s efforts to establish mining as the third pillar of the Kingdom’s industrial economy.