Global Islamic banking sector set to reach $4tn by 2026 thanks to GCC: report 

Global Islamic banking sector set to reach $4tn by 2026 thanks to GCC: report 
Global Islamic banking sector set to reach $4tn by 2026 thanks to GCC: report 

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Jeddah - Yasmine El Tohamy - RIYADH: The digital economy infrastructure in Saudi Arabia is set to receive a boost with the launch of open data programs, including the introduction of the National Data Index, also known as Nudei, during the Saudi Data Forum in Riyadh.  

The event also saw the launch of upgraded versions of the Open Data Platform and the Data Governance Platform.  

This initiative, a first for the Kingdom, aims to promote transparency, create a national data-based economy, and contribute to the assessment of data maturity in government entities, aligning with Vision 2030. 

Organized by the Saudi Data and Artificial Intelligence Authority and the National Transformation Program, the launch was attended by global and local experts. Participants included Assistant Minister of Interior for Technology Affairs Prince Bandar Bin Abdullah, SDAIA President Abdullah Al-Ghamdi, ministers, senior officials, and representatives from local and international companies. 

The National Data Index, a collaboration between SDAIA and NTP, is a dynamic results-based indicator for follow-up and evaluation. It aims to assess and track the progress of government agencies in data management, compliance, and operational indicators across 14 areas. 

The indicator establishes a robust data governance framework and policies to control data management practices, measure data management maturity and ensure compliance, improve the effectiveness of data management operational processes, and develop compliance and investigation-reporting mechanisms. 

An upgraded version of the Open Data Platform was also released, allowing individuals, government, and non-government agencies to publish their open data for entrepreneurs and other beneficiaries.  

The platform has achieved over 7,000 open data sets, 190 publishers, and 35 use cases. 

Additionally, the Data Governance Platform aims to register entities covered by the Personal Data Protection Law, providing support and advice on preserving the privacy of personal data holders and protecting their rights.  

Government agencies can benefit from the platform through a process that involves filling out the registration form, logging in through the national unified access platform, completing the entity’s profile, and submitting data for evaluation.  

It also provides services, including notification about possible data leaks, privacy impact assessment, legal support, and a self-assessment tool for compliance with the Personal Data Protection Law. 

SDAIA and NTP signed a memorandum of understanding in 2022 to launch new strategic partnerships and smart business solutions that support the strategic objectives of Vision 2030 assigned to NTP, including SDAIA’s initiatives related to data and artificial intelligence. 

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