FF News Logo
Monday, March 16, 2026
Fintech Meetup | FFNews

Saudi Central Bank Licenses A New Payment Financial Technology Company

The Saudi Central Bank (SAMA) announces the licensing of a new payment financial technology company, namely: Smart Digital Payment company (Tiqmo) to provide E-wallet services. This brings the total number of payment companies licensed by SAMA to 22 companies, in addition to 5 companies were granted an In-principle Approval.

This comes as part of SAMA’s role to promote the development of the financial technology sector to ensure ultimate stability and growth of the sector. This step aims to contribute to the sector growth while complying with SAMA’s regulatory requirements in line with SAMA’s mandate to enhance overall financial stability and support greater opportunities of the Kingdom’s Vision 2030.

In this regard, SAMA reiterates its commitment to support and facilitate the development of Fintech sector, encourage innovation and increase efficiency in financial transactions in a bid to boost financial inclusion in the Kingdom. This also support the objectives of the FinTech strategy by making the Kingdom one of the world’s leading countries in the field, and it will contribute to the economic empowerment of the Saudi society and its citizens by promoting further innovations in technology-based financial services.

Meanwhile, SAMA emphasizes the importance of dealing with licensed or authorized financial institutions.

Companies In This Post

  1. AutoRek & Microsoft: Why Reconciliation Is Becoming Strategic Read more
  2. EXCLUSIVE: “Freedom Calling” – Timur Turlov, Freedom Holding Corp in ‘The Paytech Magazine’ Read more
  3. Nationwide Launches Teacher Accreditation to Boost Financial Education in Schools Read more
  4. Ant International Becomes Official Sponsor of The Argentine National Football Team Read more
  5. DNERO Launches Borderless Neobank Powering the Rise of the Latino Economy Read more
Fintech Meetup 2026 x FFNews