Under the patronage of H.E. Fahad Almubarak, governor of the Saudi Central Bank, SAMA organized the "Islamic Finance: Growth Through Innovation"; event on September 26, 2021, in partnership with Refinitiv, a London Stock Exchange Group business.

Since its inception, the Islamic Finance industry has grown rapidly at the global level. The Kingdom of Saudi Arabia experienced substantial progress, which is a testimony to its leading position in the field.

In his keynote address, H.E. Fahad Abdullah Almubarak, governor of SAMA, stated that Saudi Arabia's Islamic Finance sector continues to grow for the past years and contributed to the economic growth of the domestic private sector. Governor Almubarak also pointed out that Saudi Arabia is the largest Islamic Finance market in the world. He mentioned that the local Islamic banking assets reached more than USD565bn in Q1 2021. Almubarak stated that SAMA is working to enhance the digital infrastructure of the financial sector to bring forward innovative growth and that The Islamic FinTech space in particular offers an exciting new growth opportunities for the industry.

The 'Islamic Finance: Growth Through Innovation' event discussed three key areas, i.e., Strategies for Islamic banks to deal with the post Covid-19 pandemic world, Digitalization of banking services and Opportunities and challenges provided by FinTech.