Hey folks, get this—SAMA just handed Malaa Company for Information Technology a shiny license for payment account information services. That’s one of the cool open-banking goodies. Consequently, the kingdom now boasts 33 licensed companies offering payment services.
This move shows SAMA actively backs the payments scene. Moreover, it boosts transaction efficiency and sparks innovative financial tools that push financial inclusion forward across Saudi Arabia.
Meanwhile, SAMA keeps reminding everyone: stick only to authorized institutions. Therefore, always check their website for the full list of licensed and permitted financial players before you dive in.
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