RIYADH, Saudi Arabia: In a bid to support small and medium enterprises (SMEs), fintech companies, and entrepreneurs, sirar by stc and Fintech Saudi sign an agreement to provide a discounted digital signature service package Under the patronage of his excellency the Governor of Digital Government Authority, Eng. Ahmed bin Mohammed Alsuwaiyan, the cutting-edge cybersecurity company sirar by stc signed an agreement with Fintech Saudi, in the presence of the Undersecretary of the Ministry of Communications and Information Technology for the Technology sector Mr. Ibrahim Al-Nasser; the Deputy Governor of the Communications and Information Technology Commission for the Information and Emerging Technologies’ sector Mr. Raed Al-Fayez; Deputy Governor For Development and Technology at Saudi Central Bank, Mr. Ziad Al-Yousef; and the Deputy Strategy & International Affairs at Capital Market Authority, Mr. Yazeed AlDemaigi.
The agreement solidifies the integration between the Digital Government Authority and the Saudi Central Bank, to support SMEs, fintech companies and entrepreneurs to boost innovation and diversity of products and services through digital platforms, and increase the contribution of the digital government services to the national economy, in line with the goals of Saudi Vision 2030. The agreement was signed by the CEO of the cutting-edge cybersecurity company sirar by stc, Eng. Fahad Al-Jutaily, and the designated General Manager of the Fintech Saudi initiative, Mr. Nezar AlHaidar. Under the agreement, sirar by stc will offer a digital signature service package discounted by 60% that will benefit SMEs, fintech companies and entrepreneurs.
This step comes in line with the efforts deployed by the Authority and all stakeholders and aims to improve the regulatory environment for digital services, facilitate business, and strengthen strategic partnerships between government agencies and the private sector, in order to develop the digital ecosystem. The Deputy Governor for Regulation and Digital Trust in the Digital Government Authority, Eng. Faris AlRabadi explained that this agreement aims to promote digital trust services, which contributes to improving the user’s experience, ensure that electronic transactions are conducted with high reliability and promote digital transformation in the Kingdom.
The Deputy Governor of the Saudi Central Bank for Development and Technology, Mr. Ziad Al-Yousef, stated that this agreement will contribute to the development of the fintech sector in the Kingdom, facilitate business in the financial sectors, enhance cooperation and coordination, and keep pace with global developments to achieve the aspirations of Saudi Vision 2030. The designated General Manager of the Fintech Saudi initiative, Mr. Nezar Al-Haidar expressed his happiness towards signing this agreement noting that it will support the empowerment of fintech companies by reducing their operating costs. The CEO of sirar by stc confirmed that this agreement comes within the framework of the company’s efforts to support and enable the fintech sector in the KSA, which serves the purpose and plans of digital transformation in the Kingdom. It is noteworthy that the digital signature service allows users to digitally sign documents from anywhere at any time, while ensuring reliability, authentication and security.