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SAMA announces issuance of second release of Open Banking framework

News | Online & Mobile Banking | 03 Sep 2024

Saudi Central Bank (SAMA) has announced the issuance of the second release under the Open Banking Framework, focused on the Payment Initiation Service (PIS). 

Open Banking, fintech, customer experience, financial services

Saudi Central Bank launches Naqd

News | Online & Mobile Banking | 16 Jul 2024

The Saudi Central Bank (SAMA) has announced the launch of Naqd, a government banking services platform that focuses on digitising the financial services of government agencies.

digital payments, online banking, digital banking, digitalisation, product launch

Saudi Central Bank joins mBridge for CBDC cross-border trade

News | Cryptocurrencies | 10 Jun 2024

Saudi Central Bank has joined Project mBridge, collaborating with China, Thailand, Hong Kong, and UAE to test central bank digital currencies for cross-border trade and payments.

CBDC, digital currency, cross-border payments, central bank, DLT

STC Bank launches in Beta

News | Online & Mobile Banking | 05 Apr 2024

STC Bank has announced the launch in Beta, as the financial institution received formal approval from the SAMA in order to continue its development journey. 

product launch, banking, online banking, mobile banking, digital banking, financial services, financial institutions

Network International obtains payment licence from SAMA

News | Payments General | 01 Feb 2024

Network International has announced that it obtained a payment licence from the Saudi Central Bank in order to expand merchants acquiring business in KSA. 

regulation, payments , online payments, mobile payments, digital payments, ecommerce

SAMA issues rules for regulating BNPL companies

News | Ecommerce | 18 Dec 2023

Saudi Central Bank has announced the issuance of Rules for Regulating Buy Now Pay Later Companies, as part of its role in supervising the BNPL companies.

BNPL, regulation, ecommerce, financial services, compliance

SAMA Approves Jeel Pay for BNPL services

News | Payments General | 11 Dec 2023

The Saudi Central Bank (SAMA) has allowed fintech Jeel Pay to provide Buy Now, Pay Later solutions in the West Asian country.

BNPL, regulation, central bank, fintech, payment methods

SAMA to release new regulatory framework for Open Banking

News | Online & Mobile Banking | 05 Sep 2023

Saudi Central Bank has announced the plan to issue a new regulatory framework for Open Banking in Q4 2023, for the payment origination services.

product launch, mobile banking, online banking, digital banking, banking, Open Banking, Open Finance

Spare secures KSA Open Banking certification

News | Online & Mobile Banking | 03 Jul 2023

Kuwait-based fintech Spare has obtained the KSA Open Banking certification, based on the Open Banking Framework released by the Saudi Central Bank.

certification, Open Banking, Open Finance, mobile banking, digital banking, online banking

Saudi Central Bank explores domestic wholesale CBDC use cases

News | Cryptocurrencies | 26 Jan 2023

The Saudi Central Bank has revealed its plans to explore domestic wholesale CBDC use cases in partnership with local banks and fintechs.

central bank, CBDC, digital assets, cryptocurrency

Saudi Central Bank rolls out Open Banking Lab

News | Online & Mobile Banking | 04 Jan 2023

The Saudi Central Bank (SAMA) has rolled out the Open Banking Lab which follows the Open Banking Framework issued by SAMA in November 2022, according to Fintech Finance News.

Open Banking, regulation, fintech, central bank