Tag "Saudi Central Bank (SAMA)"
STC Pay Clinches One of the Two Digital Bank Licenses in Saudi
The Saudi cabinet has granted a digital bank license to STC Pay, a digital payments company which is a fully owned subsidiary of Saudi Telecom. STC Pay will be converted into a local digital bank, with a capital of SAR
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Saudi Central Bank Grants 2 More Licenses to Payment Companies
The Saudi Central Bank (SAMA) has granted two licenses to International Digital Solutions Co and Azm Fintech Co to provide payment services. This brings the total number of payments companies licensed by SAMA to 13 companies. This step comes from
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Saudi Central Bank Launches Instant Payment System Sarie
The Saudi Central Bank (SAMA) launched the instant payment system sarie, under the patronage of His Excellency Governor of the Central Bank Dr. Fahad bin Abdullah Al-Mubarak. Commenting on the achievement, the Central Bank Governor said that the launch of
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Saudi Central Bank Set to Launch Instant Payment System Available 24/7
The Saudi Central Bank (SAMA) has announced that it will be launching a round the clock instant payment system effective from 21st of February onwards. Upon its activation, the system will allow financial institutions, companies, and individuals to complete transactions
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Saudi Arabia: Open Banking Expected to Go Live in H1 2022
The Saudi Central Bank, previously known as Saudi Arabian Monetary Authority (SAMA), is planning to go live with open banking during the first half of 2022. The Go-Live Phase will be the third and last phase of SAMA’s open banking
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Saudi Fintech Startup Hakbah Secures USD 1.2 Million Seed Funding
Hakbah platform, a Saudi-based fintech startup that specialises in alternative savings and savings groups, announced the closure of its seed round with a value of USD 1.2 million (SAR 4.5 million). Details of the investors were not disclosed. The startup
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Mambu Partners Ta3meed to Provide Digital Islamic Financing Solutions for SMEs
SaaS banking platform Mambu and Ta3meed, an Islamic fintech in trade finance in Saudi Arabia, announced a strategic partnership to deliver Islamic fintech financing solutions for SMEs in the region. With this partnership, Mambu’s agile core banking technology will be
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Saudi Central Bank Releases Its Open Banking Framework
The Saudi Central Bank (SAMA) has issued its open banking policy which outlines its objective for implementation in Saudi and the benefits that the financial sector stands to gain from it. SAMA plans to go live with its open banking
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