Saudi National Bank (SNB) Capital, a leading regional financial institution, has announced the launch of “Idikhari” during the Saudi Capital Market Forum.
Idikhari is an innovative investment program that aims to promote financial planning across the Kingdom by enabling the public in achieving personal saving and investment targets.
The technologically enabled and passively managed program will serve as an extension to SNB Capital’s growing digital offering focused on driving financial inclusion and access to investing in Saudi Arabia.
Idikhari is part of SNB Capital’s commitment to supporting Saudi Arabia’s Vision 2030, the Financial Sector Development Program’s (FSDP) goal of increasing the national household savings rate from 6 percent to 10 percent by 2030.
Mr. Mohammed Al Saggaf, Head of Wealth Management at SNB Capital said that “As a leading financial institution across Saudi Arabia, we are committed to driving innovation and contributing through our products and services to creating sustainable wealth. Furthermore, this program will offer our clients a unique opportunity to access a best-in-class product that supports financial planning and inclusion. With financial services at the forefront, SNB Capital looks forward to leading the growth of fintech and the digital economy across the country.”
The robo-advisory program will feature smart tools including a savings calculator and an auto-deposit feature, facilitating user access to an investment product mix comprised of key SNB Capital Funds at competitive subscription amounts. Additionally, the platform introduces users to target and investment-based saving strategies.
The Saudi Capital Market Forum is being held in Riyadh from 12th to 13th February, with 45 and more panel discussions on, The evolution of the global capital market, ESG: a push that will reshape the future of investments, and the impact of innovation and digitalization.