Riyadh, Saudi Arabia – January 2, 2025: Vision Bank, formerly known as the Saudi Digital Bank, has announced the launch of the pilot phase of its banking operations after receiving a no-objection certificate from the Saudi Central Bank. This milestone marks a significant step in Vision Bank’s journey toward realizing its strategic goals and underscores […]
Riyadh, Saudi Arabia – The Saudi Central Bank (SAMA) has officially licensed Tal Finance Co. to provide debt-based crowdfunding solutions, further expanding the Kingdom’s innovative financial ecosystem. With the inclusion of Tal Finance, the total number of companies authorized to offer debt-based crowdfunding solutions in Saudi Arabia now stands at 12. Additionally, the number of […]
The Saudi Central Bank (SAMA) has announced the licensing of Majd Saudi Payments Company to provide payment services via electronic wallets. This addition raises the total number of licensed payment service providers in the Kingdom to 26 companies. This strategic move underscores SAMA’s commitment to bolstering and empowering the payments sector by enhancing the efficiency […]
December 23, 2024 Saudi Arabia, Riyadh – EdfaPay is pleased to announce the obtaining of a technical license as a Mobile Point-of-Sale (Soft-POS) technology provider from the Saudi Central Bank (SAMA). This milestone aligns with EdfaPay’s continuous efforts to enhance digital innovation in the payments sector and provide advanced and secure technological solutions that meet […]
The Saudi Central Bank (SAMA) has granted its no-objection for D360, a licensed digital bank, to commence its banking operations in the Kingdom of Saudi Arabia. This milestone marks a significant step in the evolution of the Kingdom’s financial sector, paving the way for enhanced innovation and competition within the banking industry. This development aligns […]
The Saudi Central Bank (SAMA) announced the launch of ‘Samsung Pay’ through the national payment system ‘mada’ in Saudi Arabia as part of its ongoing efforts to enhance the digital payments ecosystem in the Kingdom, aligning with the Saudi Vision 2030. This initiative aims to promote financial inclusion and expand the use of fintech solutions […]
Riyadh — Credit card loans by Saudi banks hit a record high of SR30.27 billion ($8.07 billion) in the third quarter of 2024, marking a significant 14.24 percent increase compared to the same period last year, according to data released by the Saudi Central Bank (SAMA). The surge in credit card borrowing reflects evolving consumer […]
The Saudi Central Bank (SAMA) has announced the issuance of new “E-Wallets Rules” to strengthen the regulatory framework governing Electronic Money Institutions (EMIs) and foster the development of the financial sector. The guidelines, now formally implemented, underscore SAMA’s commitment to enhancing the stability and security of the electronic money ecosystem, enabling EMIs to operate under […]
CAIRO: Fintech experts believe Saudi Arabia is positioned to lead the regional landscape in decentralized finance, and also solve some challenges on the horizon. With active support from the Saudi Central Bank, also known as SAMA, and initiatives like Vision 2030, the Kingdom is creating an ideal environment for solutions to so-called DeFi to flourish. […]
Riyadh, Saudi Arabia – October 23, 2024 – Mastercard has announced the launch of a world-class technology infrastructure in Saudi Arabia, designed to enhance the processing of e-commerce transactions locally. This significant development promises to deliver a seamless and secure payment experience for Mastercard partners and consumers, supporting the Kingdom’s digital commerce acceleration. Under the […]