Saudi Arabia has approved a key program intended to develop its financial sector in order to diversify the kingdom’s economy away from oil under Vision 2030 (MEES, 2 March).

The Council of Economic and Development Affairs (CEDA) on 9 May approved the Financial Sector Development Program (FSDP). CEDA is headed by Crown Prince Muhammad, the architect of Vision 2030.

FSDP’s objectives are to create a “diversified and effective financial services sector to support the...