Saudi Arabia"s Minister of Finance Mohammed Al Jadaan emphasized the burgeoning role of fintech in transforming global financial sectors. He stressed the need for smart regulation of "non-banks", entities that are increasingly pivotal in the financial landscape but differ significantly from traditional banks. Al Jadaan"s participated in a session titled "Regulating Non-Banks" at the World Economic Forum 2024 in Davos on Tuesday. Al Jadaan pointed out the distinction between regulation and awareness, underscoring the government"s responsibility in educating investors, especially those focused on returns. His comments highlighted the delicate balance regulators must strike: ensuring non-banks remain productive and innovative, while also maintaining access to credit for various industries. The minister expressed that while fintech continues to introduce novel products and forms of risks, regulations should not hinder the productivity and innovation of these non-banking entities. His advocacy for smart regulation aligns with the goal of mitigating risk and safeguarding financial stability.