Riyadh: The Saudi Central Bank (SAMA) has granted a license to Malaa Company for Information Technology to provide payment account information services, which are part of open banking services. With this addition, there are now 33 licensed companies offering payment services across Saudi Arabia.

According to Saudi Press Agency, this move underscores SAMA's commitment to bolstering the payments sector, enhancing the efficiency of financial transactions, and encouraging innovative financial solutions to advance financial inclusion in the country.

SAMA highlights the importance of engaging exclusively with authorized financial institutions. For a list of licensed and permitted financial institutions, the public is encouraged to visit SAMA's official website.