Saudi Arabia to license more digital banks, says SAMA Governor

Fahd Al-Mubarak, Governor of SAMA

Saudi Arabia is going to license more digital banks, Saudi Central Bank (SAMA) Governor Fahd Al-Mubarak said, referring to the two licenses granted by the Kingdom in June.

The banking sector and SAMA leveraged on the solid infrastructure and technical progress during the pandemic, Al-Mubarak added on the sidelines of the Financial Stability Forum.

In June, the Cabinet approved licenses for two local digital banks; STC Bank and the Saudi Digital Bank, Argaam earlier reported.