Islamic Finance

Saudi central bank allows 9 more fintechs into regulatory sandbox


The Saudi Arabian Monetary Authority (SAMA) has allowed nine more fintech companies to operate in its regulatory sandbox, taking the total to 30.

This is the third batch of fintechs allowed in the sandbox that allows them to test products, services, business models and delivery mechanisms in a live environment.

SAMA said in a statement on Apr 18 that it received 103 applications related to payments, financing and insurance. 

The nine selected fintechs include electronic savings solutions, and crowdfunding platforms for SMEs and entrepreneurs.

The list of companies given the nod by SAMA can be found at this link.

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tags:

Fintech