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Saqqama approves Mala'ah for open banking
The Saudi Central Bank, "SAMA," has issued a license to "Mala'ah Information Technology Company" to provide payment services. This step is part of efforts to strengthen the payments sector and enhance the efficiency and flexibility of financial transactions within the Kingdom. Currently, the number of licensed companies has reached 33. The decision aims to support innovation and expand financial services to reach all segments of society, with an emphasis on dealing only with licensed institutions and verifying this through the "SAMA" website.
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