SAMA launches government banking services platform 'Naqd'

Logo of The Saudi Central Bank (SAMA)

The Saudi Central Bank (SAMA) announced introducing "Naqd," a government banking services platform that enables government agencies to conveniently access their accounts at the central bank and carry out financial transactions securely on a digital platform.

This initiative is part of the central bank's strategy of providing banking services to government agencies and supporting digital development. It aims to digitize the financial operations services of government agencies on their accounts at SAMA through a unified and secure digital platform, Saudi Press Agency reported.

It also facilitates access to account information at all times, enables the management of these accounts, and provides instant monitoring of transactions to and from government agencies' accounts.

The platform aims to offer electronic banking services that support government financial transactions, improve the user experience, enhance efficiency and productivity in financial transactions using the latest technologies, and reduce the time required to complete government banking procedures.