Drahim Becomes the First Saudi App to Obtain an Open Banking License from the Saudi Central Bank (SAMA)

Logo of Drahim 

Drahim has been granted an Open Banking license by the Saudi Central Bank (SAMA), becoming the first Saudi application to offer open banking services under official regulatory oversight, a milestone that caps a journey that began with manual expense tracking, progressed through expanded account capabilities, and has now arrived at direct connectivity with all Saudi banks. 

The license comes four years after Drahim's successful launch in the retail segment, during which the application built a broad user base and established deep trust in the local market, before converting that accumulated experience into a fully licensed platform capable of delivering open financial services to the highest standards of security and regulatory compliance.

With this license, Drahim customers can now securely and officially consolidate all their bank accounts within a single platform, gaining real-time and comprehensive visibility into their cash flows without the burden of traditional procedures. They can also access new and exclusive financial products and services designed to meet the needs of both individuals and businesses, within a secure regulatory environment under the supervision of the Saudi Central Bank.

The license marks the starting point of a new phase of product expansion. Drahim intends to leverage it to launch specialized financial products targeting multiple sectors, foremost among them the EFM product designed for the corporate segment, which enables businesses to track their expenses, budgets, and financial flows from a single integrated platform.

Eng. Sultan Al-Khayal, CEO of Drahim, said: "From inception, our core mission has been to deliver a genuine solution to a financial challenge that people face every day, and to elevate their financial awareness. Today, this license is not a finish line. It is a new door opening in Drahim's journey toward products that better serve individuals and businesses in tracking their spending, achieving financial efficiency, and accessing financial freedom without limits."

It is worth noting that Drahim is one of the key vehicles through which alrajhi bank advances its "Harmonize the Group" strategy, bridging traditional banking services with modern digital innovation.