Tag "Saudi Central Bank (SAMA)"
Saudi Central Bank Allocates Payment Licenses To Network International Arabia and Barraq
The Saudi Central Bank (SAMA) licensed “Network International Arabia” to provide payment services through points-of-sale (POS), and “Barraq” to offer e-wallet services. With the addition of these two companies, there are now 27 licensed companies offering payment services in Saudi
Read MoreSAMA Permits Kady Pay as New BNPL Solution Provider
The Saudi Central Bank (SAMA) permitted “Kadi Pay” to provide Buy Now Pay Later (BNPL) solutions. With Kadi Pay, there are now six authorized companies offering BNPL solutions in Saudi Arabia, bringing the total number of licensed/ permitted finance companies
Read MoreSaudi and Singapore Central Banks to Share Fintech Expertise
The Saudi Central Bank (SAMA) and the Monetary Authority of Singapore (MAS) have agreed to work together on fintech and innovation. The agreement was signed by H.E. Mr. Ayman Al-Sayari, Governor of SAMA, and H.E. Dr. Vivian Balakrishnan, the Minister
Read MoreSaudi 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
Read MoreSaudi 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
Read MoreSaudi 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
Read MoreSaudi Licenses Two Additional Debt-Based Crowdfunding Fintech Startups
The Saudi Central Bank (SAMA) announced the licensing of two finance companies specialized in debt-based crowdfunding, namely: Forus and Tameed. The licenses were granted to the companies after successful testing of their solutions in SAMA’s Regulatory Sandbox; an experimental environment
Read MoreSaudi Central Bank Continues CBDC Trials
The Saudi Central Bank (SAMA) continues to experiment on Central Bank Digital Currency (CBDC) as it is currently working on a phase of a project that focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs.
Read MoreSaudi Central Bank Launches Open Banking Lab
The Saudi Central Bank (SAMA) announced the launch of the Open Banking Lab according to the Open Banking Framework issued by SAMA November 2022. The Open Banking Lab aims to enable innovation and accelerate the development of open banking services
Read MoreSaudi Central Bank Licenses New Fintech Company Specialized in Debt-Based Crowdfunding
The Saudi Central Bank (SAMA) announced the licensing of Manafa – a finance company specialized in debt-based crowdfunding in the Kingdom. Manafa is a closed joint-stock company with a capital of SAR 40 million. The license was granted to the
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