SAMA licenses Majd Saudi to provide payment services

24/12/2024 Argaam
Logo ofThe Saudi Central Bank (SAMA)

Logo of The Saudi Central Bank (SAMA) 

The Saudi Central Bank (SAMA) licensed Majd Saudi Payments Co. to provide e-wallet solutions.

 

With Majd Saudi Payments, there are now 26 licensed companies offering payment services in Saudi Arabia, the central bank said, in a statement.

 

SAMA said this decision reflects its endeavor to support the payments sector, boost the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

 

SAMA also emphasized the importance of dealing exclusively with authorized financial institutions.

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