The document discusses several topics related to technology in Saudi Arabia: 1) The Global Cybersecurity Forum will take place in November in Riyadh to discuss establishing a more stable cyber order. 2) A program launched by King Fahd University aims to support Saudi Arabian startups and help the country become a tech center. 3) Saudi Arabia's open banking program is fueling fintech growth in the region and modernizing the payment sector.

1. OUR TECH NEWSLETTER FROM SAUDI ARABIA
AIQU NEWSLETTER
Rethinking Global Cyber Order at The Global
Cybersecurity Forum
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RIYADH — The Global Cybersecurity Forum (GCF), a leading platform driving the
global cybersecurity agenda founded and hosted by the Saudi National
Cybersecurity Authority (NCA), announced on Monday its return between
November 9-10, 2022.
The theme for the two-day event is 'Rethinking the Global Cyber Order' with the
forum addressing the rapidly evolving macroeconomic, geo-political, and strategic
considerations shaping global cybersecurity.
Following its 2020 debut and the Virtual dialogue in 2021, this year’s in-person event
will be held in the Saudi Capital, Riyadh.
The event brings together key decision-makers and executives from around the
globe, including high-level government officials, C-Suite executives, international
organizations, expert communities, NGOs and academia.
The event will explore five sub-themes covering a broad range to deliver on its
ambition to contribute to the development of a more stable and resilient
Cyberspace. Read More...

2. A KFUPM-EI program has been designed to drive growth in local technology-
based start-ups.
Entrepreneurial Emerging Leaders Acceleration Program targets start-ups
generating innovative products .
A Saudi Tech University Program Sounds
The Call to Entrepreneurial Action
DUBAI: Young Saudis eager to do their bit to transform their country into a
technology hub can access a wide range of tailored initiatives by the Saudi
government and local institutions.
One of them is the Entrepreneurial Emerging Leaders Acceleration Program,
launched by the King Fahd University of Petroleum and Minerals Entrepreneurship
Institute (KFUPM-EI) in Dhahran, Eastern Province, to drive growth in local
technology-based startups.
The scheme specifically targets startups that are generating innovative products and
processes in manufacturing as well as the digital economy. It aims to support Saudi
Arabia’s aspiration of becoming a regional and global tech center. Read More...
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3. Saudi Arabia’s Open Banking Program
Fuels Fintech Growth in The Region
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July 2022, Issue 19
The Kingdom saw a 37% increase in active fintech firms in 2021 compared to the
year before, says a report.
RIYADH: Saudi Arabia is poised to become a regional fintech hub with the launch of
open banking last month. The concept provides seamless digital banking solutions
to all stakeholders, besides reducing operational costs of traditional banking.
On May 24, the Saudi cabinet approved the Kingdom’s financial technology strategy
to modernize the payment sector as part of Vision 2030’s Financial Sector
Development Program.
Speaking about the program, Talat Zaki Hafiz, economist and financial analyst, told
Arab News that the program has three main pillars. Read More...

4. Mastercard Ties with Saudi Esports
Federation to Promote Gaming Industry
The partnership will see new products, services and solutions delivered to gamers in
Saudi Arabia and the wider region.
Mastercard has signed a three-year agreement with Saudi Esports Federation as an
official sponsor of Gamers8, the gaming and Esports event.
Catering to Saudi Arabia’s thriving gaming community, Mastercard will curate a
diverse range of activities for gamers.
The announcement underlines Mastercard’s commitment to delivering meaningful,
one-of-a-kind experiences for consumers, gamers and gaming enthusiasts across
the Kingdom. Organised by the Saudi Esports Federation, Gamers8, which runs daily
until September 8 at Boulevard Riyadh City.
As part of the agreement, Mastercard will sponsor the event, hosting a selection of
daily tournaments and experiences for gaming enthusiasts to participate in over the
course of the Esports showpiece. Read More...
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5. RIYADH: Saudi banks are betting big on the digital future.
In the first three months of 2022, 13 bank branches and 81 ATMs were closed in
a further sign of the growing digitization of the sector, data from the Saudi
Central Bank reveals.
The COVID-19 pandemic, together with the Financial Sector Development
Program included in Saudi Vision 2030, affected the banking and payment
processing industries and led to a wave of digitization that aims to increase
cashless transactions.
This year's decline is a continuation of an earlier trend.
Point of Sale transactions increased 5.8 percent in terms of sales value in the
first quarter of 2022 compared to the final three months of 2021.
The value of sales using mobile phones grew 13.6 percent over the same period,
compared to a 3.6 percent growth for cards.
E-commerce sales using Mada cards rose 14 percent in the first quarter of this
year. Read More...
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Saudi Banks Embrace Digital Future with
More Closure of Branches

6. Asos Saudi Arabia today signed a new joint cooperation agreement with Purity
Information Technology, based in Riyadh, considered one of the most promising Saudi
companies in the field of sales and distribution for the government sector, the private
sector and the IT sector in the Kingdom of Saudi Arabia, which includes a large number
of emerging Saudi skills.
This partnership will bring together ASUS’s leading business experience as a global
provider of ICT hardware and communications solutions, as well as its expertise in
providing IT solutions, services and hardware designed for today’s increasingly
demanding environment for products, devices and IT solutions. To build a partnership
based on many important corporate values, ASUS finds Purity Information Technology
a reliable and flexible partner in the Kingdom of Saudi Arabia.
Similarly, Khaled Al-Sheikh, Business Development Manager, ASUS Middle East
commented: Managing different types of secure IT solutions with accuracy and speed
is a core requirement of our customers in today’s IT industry. Read More....
Asus Saudi Arabia Signs a New Joint
Cooperation Agreement with Purity
Information Technology
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7. Digital payments dethrone cash as
number 1 payment method in Saudi
Arabia
Digital payment has overtaken cash for the first time in Saudi Arabia, the new National
Payment Usage Study 2021 showed.
The study, released by the Saudi Central Bank (SAMA) covered government, business
and consumers across the length and breadth of the country to assess the share of
cashless payment transactions out of the total number of transactions.
It reached out to over 1,500 consumers and 218 businesses, and the findings have
revealed that for the first time, cash has ceased to be the most common method of
payment across all economic sectors.
Percentage of electronic payments shot up significantly to reach 57 percent in 2021.
This was at 36 percent in 2019 and shows the effect of COVID-19, when many people
made a switch to cashless payment.
In its report, SAMA said: “Covid-19 is believed to have had a substantial impact on
accelerating the growth in non-cash payments, especially in the consumer retail
space. Read More...
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