Saudi Arabia to grant operating license to more digital banks
Saudi Central Bank (SAMA) Governor Fahd Al-Mubarak has announced that the Kingdom will grant operating license to more digital banks.
In June this year, the Council of Ministers approved license for two local digital banks, first to convert STC Pay to STC Bank with a capital of SR 2.5 billion and second the Saudi Digital Bank with a capital of SR 1.5 billion.
