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HomeFinTechSaudi Central Bank Grants Licenses To 2 New Fintech Companies!

Saudi Central Bank Grants Licenses To 2 New Fintech Companies!

The Saudi Central Bank (SAMA) announced Sunday that it had granted licenses to two new financial technology companies to provide payment services in the kingdom. Enjaz Payments Services Co. received a license to provide electronic wallets, while Marta Financial Co. received a grant to offer payment services through points of sale.

This brings the total number of payment companies licensed by SAMA to 19, in addition to the seven companies that received an in-principle license.

This is part of SAMA’s mission to promote the development of the financial technology sector to ensure the ultimate stability and growth of the industry by introducing new products and attracting new players and investors, according to a press statement.

At the same time, SAMA stresses the importance of dealing only with licensed or accredited financial institutions.

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