SAMA: STC Bank Launches its Banking Operations in the Kingdom

The Saudi Central Bank (SAMA) granted “STC Bank," a licensed digital bank, no objection to commence its banking operations in the Kingdom. This development aligns with SAMA's strategy to promote digital transformation ​and competitiveness within the banking sector while safeguarding monetary and financial stability. SAMA remains committed to strengthening the banking sector's resilience, enhancing its attractiveness, and increasing its contributions to achieving Saudi Vision 2030 and its national aspirations. This includes enabling entrepreneurs and financial institutions to provide innovative financial services to the Saudi markets.