Riyadh Jumps to 46th in Global Financial Rankings

Riyadh has climbed to 46th place globally in the latest edition of the Global Financial Centres Index for 2026, up 15 spots from 61st in the previous edition. The city's rating rose from 688 to 713 points, reflecting steady gains across financial services, market depth and the wider business environment.

Regionally, Riyadh now ranks 4th across the Middle East and Africa, behind Dubai, Abu Dhabi and Casablanca. The improvement is tied to progress in capital markets accessibility, the regulatory framework and financial services depth, driven by the Financial Sector Development Program under رؤية السعودية 2030.

What's behind the rise

Several milestones underpin Riyadh's stronger standing. By the end of 2024, banking sector assets across the Kingdom reached around SAR 4.5 trillion, already exceeding the 2025 Vision 2030 target of SAR 3.5 trillion. Retail electronic payments accounted for 79% of total retail transactions in 2024, surpassing the 70% target set for 2025.

The number of fintech companies reached 261 by the end of 2024, above the official target of 230, while the market capitalization of Saudi equities excluding Aramco reached 86.7% of GDP, above the 80.8% target. These figures point to a deepening financial and digital ecosystem centred on Riyadh's Saudi Exchange.

Regulatory reforms are also reshaping access. The Personal Data Protection Law became fully enforceable from 14 September 2024, strengthening data governance for financial institutions. The Saudi Central Bank approved the Visitor ID, issued by the Ministry of Interior, as valid identification for opening bank accounts, allowing temporary visitors in Riyadh to access current accounts and payment solutions through standard bank channels.

Meanwhile, the Capital Market Authority has moved to open the Main Market to non-resident foreign investors without a qualified foreign investor gate and to shift toward direct ownership and voting rights. A GCC funds passporting regime launched in 2025 to ease cross-border fund distribution, further reinforcing Riyadh's role as a regional financial and funds hub.

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