Saudi Cabinet approves licenses for 2 local digital banks

22/06/2021 Argaam

Custodian of the Two Holy Mosques King Salman

The Saudi Cabinet, chaired by the Custodian of the Two Holy Mosques King Salman, approved on June 22, the Minister of Finance to issue necessary licenses for STC bank and Saudi Digital Bank.

 

The decision comes in accordance with Article 3 of the Banking Control Law issued by Royal Decree No. (M/5), Saudi Press Agency reported.

 

Both banks are currently under establishment.

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