Saudi Press: FSDP Makes a Number of Achievements Despite Challenges Due to COVID-19

(MENAFN - Saudi Press Agency) Riyadh, June 24, 2021, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al- Riyadh newspaper reported in its editorial that financial sector development program (FSDP) is seen as one of the executive programs launched by the Council of Economic and Development Affairs within the Kingdom of Saudi Arabia's Vision 2030. FSDP has made a whole slew of achievements despite the challenges that global economy has witnessed due to the Coronavirus pandemic, the paper said. In this regard, the Cabinet approved in its session chaired by the Custodian of the Two Holy Mosques on Tuesday evening, to license STC Bank with a capital of SAR 2.5 billion and establishing Saudi Digital Bank to conduct banking business in the Kingdom with a capital of SAR 1.5 billion, the paper added. This step confirms the keenness of the Custodian of the Two Holy Mosques'' government to keep pace with the rapid development in financial technology and moving towards digital financial solutions to reach a non-monetary society and supporting the development of the economy, the paper further added . During the last period, the Saudi Central Bank (SAMA) worked on developing, managing and controlling the infrastructure of modern payment systems, in accordance with the best international practices, as traditional Saudi banks invested in banking technology in a way that made themt among the best international banks in banking service applications through electronic channels and smart device applications, the paper concluded. In another context, Al-Yam newspaper reported in its editorial that the Kingdom of Saudi Arabia has achieved reassuring stages regarding the numbers of infection and recovery rates from the Novel coronavirus Pandemic, as free anti-virus vaccines have been carefully provided to all segments of society, citizens and residents alike. In this regard, The Ministry of health confirmed the possibility of taking the first and second dose of two different coronavirus vaccines, as it previously announced that it was able to achieve high rates in immunizing the elderly, age of sixty years and above, the paper added. These above-mentioned data indicated that all efforts aims to achieve the best results in the current and next stages, the paper further added. The protection and care of the people living in its territory, whether citizens or residents, in addition to the preservation of their rights is firm approach in Saudi Arabia's strategies and its history since its inception until this prosperous era being led by the Custodian of the Two Holy Mosques and HRH the Crown Prince, the paper concluded. --SPA 09:40 LOCAL TIME 06:40 GMT 0013 MENAFN24062021000078011016ID1102338146