The Saudi Central Bank (SAMA) completed the electronic linking procedures with the Saudi Center for Economic Business through the Tanfeeth program to directly link the technical systems of government agencies and banks operating in the Kingdom and integrate them. This step would contribute to automating and accelerating business processing to achieve Vision 2030.
The Saudi Center for Economic Business is concerned with facilitating the procedures for launching and conducting businesses and providing all related services under international best practices.
SAMA stated that it aims, through Tanfeeth, to improve and develop joint business with government agencies, understand the needs of those agencies, and overcome obstacles and difficulties.
It seeks to achieve the objectives of the Central Bank, enhance the technical infrastructure, and increase the level of services aiming to reduce administrative procedures and improve their quality in integration with financial institutions operating in the Kingdom.
Meanwhile, Riyadh Municipality inaugurated Remat al-Riyadh Development Company, the strategic arm, to enable the private sector to implement and develop municipal projects.
The development arm will also help provide services to improve the quality of life and provide direct value to residents and visitors of the region.
Its activities will focus on three main sectors: urban development, asset management, and municipal services.
Remat al-Riyadh will contribute to empowering the strategic role of the Municipality by supporting its operations and enabling the private sector to implement and develop municipal projects.
The mayor and chairman of the Riyadh region, Prince Faisal bin Ayyaf, confirmed that the company would contribute to accelerating the developmental plans for the area and improving residents' lifestyles.
Given that Riyadh is deemed full of tremendous and promising opportunities, the firm will promote this growth by involving the private sector in the municipal sector, as it aspires to be one of the top development companies in the municipal sector.
He indicated that the company's activities are based on three main sectors: urban development, municipal asset management, and municipal services, to improve the quality of services and municipal projects, improve customer experience and achieve satisfaction.
Prince Faisal added that the company aims to boost the level of municipal services and contribute to creating a vibrant society that enables economic and social development for the Riyadh region.
Remat al-Riyadh CEO Abdullah Abu Daoud said that the company aspires to contribute to making Riyadh an ideal and successful model by developing and shaping the future of the municipal sector based on strategic priorities aimed at providing quality projects and services that contribute to the prosperity and improvement of the region and the progress of the area.
It also aims to improve quality of life, achieve financial sustainability, and develop attractive and innovative business models in partnership with the private sector.
During the past year, Saudi Arabia launched the Riyadh city strategy to make the capital one of the ten largest city economies in the world.
