Saudi Arabia's fintech sector is booming, according to a report from the US-Saudi Business Council.

The number of active fintech businesses nearly doubled from 2018 to 2022. As of August 2022, the kingdom had 147 active fintech firms.

The report attributes the growth to liberalized business regulations, a supportive investment environment, well-developed technology infrastructure, and high demand for financial services among Saudi residents.

The country aims to expand the number of active fintech players to 230 businesses, accounting for 70% of non-cash transactions.

Jobs creation

By 2030, the kingdom's fintech sector will generate around 18,200 direct jobs and account for 525 active fintech companies. Saudi Arabia aims to reach $3.6 billion in direct GDP contribution by 2030.

The sector is also projected to create 18,200 direct jobs and have 525 active fintech companies. The country aims to increase its direct GDP contribution to 3.6 billion by 2030

and to top to off - Saudi astronauts to head to space

For the first time, Saudi Arabian astronauts are set to journey to the International Space Station, featuring the first Arab female astronaut.

The team will undertake 20  experiments, exploring areas such as cancer prediction and prevention and investigating methods for producing artificial rain in potential lunar and Martian human colonies.

The Saudi national astronaut program members, Ali al-Qarni and Rayyanah Barnawi, will join a four-person crew for the Axiom-2 mission, launching from Florida's Kennedy Space Center in May.

Also on board, Ax-2 will be Peggy Whitson, a former NASA astronaut who will be making her fourth flight to the ISS, and John Shoffner, a businessman from Tennessee who will serve as pilot.

It comes nearly 40 years after Saudi Arabia sent the first Arab - Prince Sultan bin Salman - to space in 1985.

Ramadan greetings from space

Saudi Arabia will follow in the footsteps of the United Arab Emirates, which in 2019 became the first Arab country to send one of its citizens into space.

Astronaut Hazzaa al-Mansoori spent eight days on the ISS.

Another Emirati, Sultan al-Neyadi, sailed to the space station in early March aboard SpaceX's Falcon 9 rocket in a Crew Dragon spacecraft.

"Ramadan Mubarak. Wishing you all a month filled with blessings," Al Neyadi wrote on Twitter Thursday while sharing a video of views of the Earth, moon, and Venus from the International Space Station.

"Sharing the beautiful nighttime scenery from the International Space Station Station with you all," he said.