Saudi central bank grants licences to 14 fintech firms
Monday, 06 03 2019, Category: Technology, Country: Saudi Arabia
The Saudi Arabian Monetary Authority has granted licences to 14 fintech companies in the field of crowd lending and payment services.
The companies include Geidea, Bayan Payments Company Limited, HalalaH, Saudi Digital Payments Company, Saudi Post, Brightware, Tap Payments and more.
The move came after the authority granted licences to 7 firms earlier this year, bringing the total of licences issued to 21.
Non-cash transactions continue to account for less than a fifth in Saudi Arabia, but the kingdom is aiming to grow the number to 28 by next year in line with Crown Prince Mohammed bin Salman’s Vision 2030.
Source: Arabian Business