Licensing of 12 Financial Institutions Confirm Attractiveness of the Saudi Economy -SAMA Governor Remarks

Licensing of as many as 12 financial institutions, including two domestic digital banks, two branches of two foreign banks and an office of a global actuarial and consulting services company, confirmed the attractiveness of investing in the Saudi economy and future growth, Dr. Fahd bin Abdullah Al-Mubarak, Governor of the Saudi Central Bank (SAMA) remarked.

The launch of the first phase of instant payments system “SARIE” aimed at upgrading the national payments system and promoting financial inclusion, he added. “The declaration of open banking principles will contribute to increased competition, innovative services, and efficiency in banking systems.” he said.

Al-Mubarak in his own name and on behalf of SAMA employees congratulated the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and HRH Crown Prince Mohammed bin Salman and  the Saudi people, on the occasion of the 91^st anniversary of the National Day of the Kingdom of Saudi Arabia.

On this occasion, Al-Mubarak noted that since its establishment in 1952, the Saudi Central Bank (SAMA) has played its part in maintaining monetary and financial stability, which has contributed to the strengthening of the national economy.

The Central Bank, he added, was working to support the realization of Kingdom Vision 2030 through the Financial Sector Development Program, aims to develop a diversified and effective financial sector to support the development of the national economy.