Search Results for "SAMA"

Saudi Central Bank Finalizes Regulations for Law of Payment Services

The Saudi Central Bank (SAMA) announces the issuance of the Implementing Regulations for the Law of Payments and Payment Services to support the objective of enhancing soundness and efficiency of the payment systems infrastructure in Saudi Arabia. The relevant regulatory

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Saudi Central Bank Permits New BNPL Company

The Saudi Central Bank (SAMA) granted “Tamara” a permit to provide Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law. With Tamara, there are now four authorized companies offering BNPL solutions. SAMA

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Saudi Arabia Permits 3 New Fintech Companies to Operate Under Its Regulatory Sandbox

The Saudi Central Bank (SAMA) announces granting permits to three innovators to test their Open Banking solutions in the Regulatory Sandbox. These companies are: Tarabut Gateway Company for Information Technology, Umg Alholol Trading Co (known as Single View), and Drahim

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Saudi Central Banks Permits First Time BNPL Companies

The Saudi Central Bank (SAMA) granted “Spotii” and “Madfu” permits to carry out Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law for providing finance to customers wishing to purchase products or

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Saudi Central Banks Seeks Public Consultation on BNPL Regulation

The Saudi Central Bank (SAMA) seeks public consultation on the draft “Rules for Regulating Buy Now Pay later (BNPL) Companies.” In the interest of transparency and wider participation, SAMA invites stakeholders and public to provide suggestions and observations on the

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Tarabut Gateway Raises US$32 Million to Expand in Saudi Arabia

Tarabut Gateway announced the completion of a US$32 million Series A fundraise. The funding round was led by Pinnacle Capital with the participation of Aljazira Capital, Visa, Tiger Global and other existing investors. The proceeds raised bolster Tarabut Gateway‘s footprint

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Saudi Licenses 24th Fintech Company

The Saudi Central Bank (SAMA) licensed “Rasid Payments Company for Financial Technology” to provide payment solutions through point of sales (POS). This addition brings the total number of payment companies licensed by SAMA to 24, in addition to six companies

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MENA Open Banking Pioneer Bahrain Moves Towards Open Finance

In the Middle East and North Africa (MENA) region, Bahrain is the undeniable leader when it comes to open banking, a position the country earned thanks to its financial regulator’s proactiveness in introducing formal regulations and implementing technical standards. Now,

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Dubai’s Strategic Vision Cement its Fintech Leadership

Dubai, a city known for leading technological innovation and digital transformation, has emerged as the fintech hub of the Middle East and Africa (MENA) and South Asia region due to its emphasis on building a modern, digitally-driven, and innovative economy.

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What’s Powering the Fintech Revolution in the Middle East?

The Middle East has seen a rapid rise in fintech in recent years, transforming the region’s financial services landscape. Fintech makes the playing field increasingly dynamic and diverse, with various players, including financial institutions (FIs), offering innovative solutions across areas

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