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Riyadh to Host the 24 Fintech Conference in September

The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center
The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center
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Riyadh to Host the 24 Fintech Conference in September

The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center
The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center

Riyadh will host next month the 24 Fintech Conference, the first edition of the international conference specialized in the financial technology sector.

The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center, hosted by the Financial Sector Development Program, the Saudi Central Bank (SAMA), the Capital Market Authority, and the Insurance Authority.

The conference is organized by Fintech Saudi and Tahaluf, a joint project between the Saudi Federation for Cybersecurity, Programming and Drones, Informa PLC, and the Events Investment Fund.

The 24 Fintech Conference is set to focus on supporting the thriving financial technology community and review a number of specialized topics to develop the global banking and financial services sector, which includes AI, machine learning in financial operations, integrated finance, the development of open banking services, and green finance, to inspire regulators, policymakers, investors, technology experts, entrepreneurs and academics to advance cooperation in the financial technology sector.

The 24 Fintech Conference aims to make a mark in the financial technology sector. It designates a space to support startups and investors under the "FinTech Innovation Center," which includes the best 80 modern and innovative startups and more than 200 investors.

The conference integrates with Saudi Arabia's orientations to enhance the prosperity of the entrepreneurship system and support startups and its efforts to become one of the booming financial technology centers in the Middle East and North Africa region, in line with the goals of Saudi Vision 2030 in developing the sector.

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Russia Readies for ‘Decades’ under Western Sanctions

Russian President Vladimir Putin (L) chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence, outside Moscow, Russia, 16 August 2024. EPA/ALEKSEY BABUSHKIN/SPUTNIK/KREMLIN
Russian President Vladimir Putin (L) chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence, outside Moscow, Russia, 16 August 2024. EPA/ALEKSEY BABUSHKIN/SPUTNIK/KREMLIN
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Russia Readies for ‘Decades’ under Western Sanctions

Russian President Vladimir Putin (L) chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence, outside Moscow, Russia, 16 August 2024. EPA/ALEKSEY BABUSHKIN/SPUTNIK/KREMLIN
Russian President Vladimir Putin (L) chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence, outside Moscow, Russia, 16 August 2024. EPA/ALEKSEY BABUSHKIN/SPUTNIK/KREMLIN

Economic sanctions imposed by the West on Russia will remain in place for decades, even if there is a peaceful settlement in Ukraine, a senior Russian foreign ministry official said on Friday.
Russia became the most sanctioned country by the West after its invasion of Ukraine in February 2022, surpassing Iran and North Korea. Despite the pressure, Russia's economy grew by 4.7% in the first half of this year.
"This is a story for decades to come. Whatever the developments and results of a peaceful settlement in Ukraine, it is, in fact, only a pretext," said Dmitry Birichevsky, head of the economic cooperation department at the foreign ministry.
"The sanctions were first introduced much earlier. Their ultimate goal is unfair competition," he told a discussion forum in Moscow, according to Reuters.
The panel, entitled "Sanctions against Russia - forward into infinity?" was part of a wider debate in Russian politics and business about whether Moscow should work towards an easing of sanctions or accept them as a long-term reality and learn to work around them.
Russian President Vladimir Putin has said the removal of all sanctions imposed on Russia would be among his conditions for peace. Many Russian businessmen are privately unhappy about the sanctions but fear losing their wealth if they antagonize Putin or top military and intelligence officials during wartime.
Last week, billionaire Oleg Deripaska faced a backlash from hawks after making a rare anti-war statement, describing the conflict as "mad" and calling for a ceasefire without preconditions.
Birichevsky said sanctions had some benefits, forcing Russia to restructure its economy and produce more value-added goods that were previously imported from Western countries.
"In the 1990s, we thought that if we had oil and gas, we could buy everything else abroad. Now we cannot buy that," he said.
He warned that the "sanctions spiral" would continue to inflict more pain, as Western regulators target sectors that are not yet sanctioned.
Western officials have exerted pressure on Russia's trade partners, threatening to cut off their access to Western markets if they cooperated with Russia, Birichevsky added.
He said Moscow was sharing strategies with other sanctioned countries such as Iran, North Korea, and Venezuela, aiming to create an international "anti-sanction" coalition to jointly resist Western pressure.