Arabian Business
This takes the total number of payment companies licensed by SAMA to 23
The Saudi Central Bank (SAMA) on Tuesday announced granting license to Tweeq International Financial Company to provide e-wallet services in the country.
This takes the total number of payment companies licensed by SAMA to 23.
The Saudi Central Bank has also given ‘in-principle approval’ to another five financial services companies.
The expansion of fintech firms is part of SAMA’s efforts to promote development of the financial technology sector in the country, and also to attract new investors to the sector.
Saudi Arabia recently initiated several measures to promote innovations in technology-based financial services in order to emerge as a global hub in this sector.
If you have any questions about enforcing, protecting, or watching your intellectual property in Saudi Arabia, please contact us at: ksa@alyafi-ip.com
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