Digital Financial Inclusion and Socioeconomic Sustainability in Saudi Arabia: Drivers, Disparities, and Policy Pathways

Mesbah Fathy Sharaf (), Abdelhalem Mahmoud Shahen () and Mansour Alharaib ()
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Mesbah Fathy Sharaf: University of Alberta
Abdelhalem Mahmoud Shahen: Imam Mohammad Ibn Saud Islamic University (IMSIU)
Mansour Alharaib: Imam Mohammad Ibn Saud Islamic University (IMSIU)

No 1783, Working Papers from Economic Research Forum

Abstract: This study explores the evolution, determinants, and disparities of digital financial inclusion (DFI) in Saudi Arabia from 2011 to 2021, with a focus on the post-COVID-19 period. Using micro-level cross-sectional data from the World Bank’s Global Findex database, we apply a multivariate Probit regression to examine the drivers of DFI across demographic, socioeconomic, and infrastructural dimensions. While Saudi Arabia has made notable progress in digital finance, gaps persist among women, the less educated, low-income groups, and the unemployed. Access to mobile phones and internet connectivity significantly enhances DFI, underscoring the role of digital infrastructure. As the first systematic analysis of DFI in Saudi Arabia using Global Findex data, this study provides timely insights into the inclusive digital transformation process. Importantly, it highlights how expanding equitable access to digital financial services can support broader goals of socioeconomic sustainability, reduce structural inequalities, and contribute to the Vision 2030 agenda. The findings offer practical guidance for policymakers seeking to design sustainable, inclusive financial ecosystems in the digital era.

Pages: 26
Date: 2025-07-20, Revised 2025-07-20
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Published by The Economic Research Forum (ERF)

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