(MENAFN- Saudi Press Agency) Riyadh, March 19, 2023, SPA -- The Saudi Central Bank (SAMA) granted“Creative Future for Digital Brokerage” a license to carry out finance aggregation services pursuant to the Rules of Licensing Finance Support Activities for providing services through an electronic platform to connect finance companies with clients based on their credit obligations and solvency, and offer them customized finance solutions.
This initiative is aimed at enticing a new segment of investors and companies that can bring added value to the sector for more efficient operation, while maintaining full adherence to the regulatory and supervisory guidelines defined by SAMA.
SAMA reiterates its commitment to supporting the financial sector and FinTech for enhanced operational efficiency, to promote financial inclusion for the various segments of the society in the Kingdom.
Granting licenses to Finance Aggregation Service Providers is a step towards achieving the objectives of the FinTech Strategy in its pursuit to be among the leading countries in FinTech.
--SPA
12:42 LOCAL TIME 09:42 GMT
0009
MENAFN19032023000078011016ID1105809653
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.