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Saudi Central Bank launches Open Banking Lab

RIYADH: Open banking services in Saudi Arabia are set for a boost after the Kingdom’s central bank announced the launch of a new lab to allow businesses to test out their products against an established framework. The service is a new concept that enables the consumers of financial institutions to securely share their data with a third-party provider, facilitating new and

RIYADH: The rise of technological advancements in the Middle East has spun across all sectors, with financial technology becoming a trademark for innovation. The fintech sector has become one of the most important industries in the world, gaining the attention of entrepreneurs, investors and governments. Every year the industry witnesses unprecedented growth by doubling the

Ozone API representatives have revealed a potential release timeframe for Saudi Arabia's new online payments guidelines in early 2023.

Manafa, a finance company specialised in debt-based crowdfunding, has obtained the licence from Saudi Central Bank to launch its operations in the kingdom. The licence was granted after a successful trial run in Sama's regulatory Sandbox.