Riyadh, July 6, 2023, SPA -- The Saudi Central Bank (SAMA) announced the issuance of the Implementing Regulations for the Law of Payments and Payment Services to support the objective of enhancing the soundness and efficiency of the payment systems infrastructure in Saudi Arabia.
Supervision. Economic Reports. Finance and Exchange Rate. Services. Currency. About. Saudi Central Bank Rules, Regulations And Circulars Banking Rules And Regulations.
The Saudi Central Bank (SAMA), earlier known as the Saudi Arabian Monetary Agency, published the final Basel III reforms and the consultations on "instructions" (or guidelines) for practicing financial aggregator services and on an amendment to article (8) of the Implementing Regulation of the Finance Companies Control Law. Please enable JavaScript to view the page content. Your support ID is: 13222223243859764281. Please enable JavaScript to view the page content.Your support ID is
It is likely that Implementing Regulations may be published to set out further rules and regulations to achieve the objectives of the Banking Law. Key changes SAMA's power to determine "banking business" and licensing requirements

these regulations, as the case may be, including the following: Principles of conduct and business ethics in financial institutions; Principles of compliance for commercial banks operating in the Kingdom of Saudi Arabia; Requirements for appointment to leadership positions in financial institutions that are under

In January 2020, SAMA introduced the Payment Service Provider Regulations ("PSP Regulations"),which requires digital payment providers to secure a license prior to starting any operation. 5 The payment services regulated by SAMA's PSP include direct debits, credit transfers, the execution of payment transactions, acquiring payment transactions,
SAMA has issued several regulations on governance; these principles should be read alongside these regulations, which include principles of conduct and business ethics in financial institutions; principles of compliance for commercial banks operating in the Kingdom of Saudi Arabia; requirements for appointment to leadership positions in financia H.E. Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), extended heartfelt congratulations to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and HRH Crown Prince and Prime Minister, Prince Mohammed bin Salman on the announcement of the state's general budget for the fiscal year 2024, which was strategically aligned to bolster the Kingdom's economic growth. .
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