Tagged: SAMA

Fintech: Saudi Arabian Monetary Authority to Allow 9 More Financial Technology Firms to Participate in National Regulatory Sandbox Program

The Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank which is also responsible for ensuring the growth and soundness of the Kingdom’s financial system, confirmed on April 19, 2020 that it will allow nine more Fintech firms to provide services through a regulatory sandbox… Read More

Fintech: Saudi Arabian Banks Must Respond Effectively to Threat from Financial Technology Startups, KPMG Executive Argues

The number of new Fintech firms being launched in Saudi Arabia’s financial services sector is increasing, and they are transforming the nation’s traditional banking processes. Rajesh Prasad, partner at Big Four auditing firm KPMG, argues that banks now have to respond to the growing threat… Read More

Saudi Arabia-based Riyad Bank Invests $26.7 Million into its Newly-Launched Fintech Startup Investment Program

Saudi Arabia-based Riyad Bank, one of the largest financial institutions in the Middle Eastern Kingdom, has decided to invest SAR 100 million (appr. $26.7 million) into its newly-launched Fintech startup investment program. Riyad Bank says it’s planning to accelerate the launch of new financial products… Read More

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