Under the Financial Sector Development Program (FSDP), what is the targeted percentage of non-cash (electronic digital) retail transactions across Saudi Arabia by 2025/2030?
Answer and explanation
Correct answer: B. 70%
- Step 1: Review cashless society metrics monitored by the Saudi Central Bank (SAMA) and mada payment system.
- Step 2: The official Vision 2030 target under the Financial Sector Development Program is to achieve 70% electronic non-cash transactions by 2025/2030, a goal already exceeded in retail point-of-sale payments by 2023.
Answer
70%.
Why not the others: '50%' was the original intermediate milestone; '60%' was reached in 2021; '95%' represents Scandinavian economies.
Practise more Economy, Financial System and Strategic Industries.
Free questions with an explanation for every one, and full timed General Knowledge (Saudi Arabia) mock tests.
More Economy, Financial System and Strategic Industries questions
- What is the name of the official stock market exchange of Saudi Arabia, which is the largest capital exchange in the Middle East and North A…
- Which global petrochemical giant, founded in Riyadh in 1976 and largely acquired by Saudi Aramco in 2020, is one of the world's largest chem…
- What national aviation program, launched in 2023 with a mega-hub at King Salman International Airport in Riyadh, is Saudi Arabia's newest gl…
- Which international economic forum, whose membership is made up of 19 countries plus the European Union and the African Union, includes Saud…
- What is the standard Value Added Tax (VAT) rate in Saudi Arabia, which was increased in July 2020 to support state revenues during global ec…
- What high-speed electric passenger railway, inaugurated in 2018, connects the holy cities of Mecca and Medina via Jeddah and King Abdullah E…