Tagged: saudi central bank

Saudi 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 in the Kingdom as it… Read More

Saudi Central Bank (SAMA) Issues License to Manafa, a Finance Company

The Saudi Central Bank (SAMA) recently 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 company “after a successful… Read More

Saudi Central Bank Issues Payment Licenses to Arab Sea Financial Company, Fatoraah

The Saudi Central Bank (SAMA) announces the licensing of two payment financial technology companies, including: Arab Sea Financial Company and Fatoraah in order to provide Payment services for e-commerce. This brings the total number of payment companies licensed by SAMA “to 21 companies, in addition… Read More

Saudi Central Bank Grants Permit to Fintech Firms Lean Technologies, Mod5r

The Saudi Central Bank (SAMA) recently announced granting permit to a new batch of companies; Lean Technologies and Mod5r to “provide Open Banking Solutions; bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38.” This step completes “a series of… Read More

Positive Facilities or Ejabiah in Saudi Arabia Awards Core Banking System Contract to Islamic Software Provider Path Solutions

The newly formed financing firm in Saudi Arabia, Positive Facilities Co. Ltd. (Ejabiah), has reportedly entered an agreement with Path Solutions for the introduction of its interest-free Core banking platform. Ejabiah will be providing a unique 0% interest financing product, which is somewhat similar to… Read More

Send this to a friend