Saudi Central Bank launches instant payment system Sarie
Published 21 Feb,2021 via Arab News - Economy RIYADH - The Saudi Central Bank (SAMA) launched the instant payment system (IPS) Sarie, on Sunday, under the patronage of bank’s governor, Dr. Fahad bin Abdullah Al-Mubarak, through a virtual event organized by Saudi Payments, the Saudi Press Agency reported today.
Al-Mubarak said the new instant payment utility would empower the national infrastructure for digital payments, tracking the growth of the Kingdom’s payment sector over a period of more than 30 years.
The launch of the Sarie system launch is part of a series of SAMA-led initiatives to promote the national payments’ ecosystem and to enhance its infrastructure, aiming to achieve financial inclusion, said Al-Mubarak.
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