The Saudi Central Bank "SAMA" announced the licensing of "Malaa for Information Technology" to engage in payment services activity through payment account information services, one of the services related to open banking.

SAMA explained that after licensing "Malaa", the total number of companies currently licensed to engage in payment services in the Kingdom has reached 33 companies.

This decision comes within the framework of the Central Bank's efforts to support and enable the payment sector; to raise the level of efficiency and flexibility of financial transactions, and encourage innovation in the financial services provided; with the aim of enhancing the level of financial inclusion and access of financial services to all segments of society.

The Saudi Central Bank emphasizes the importance of dealing with financial institutions licensed or authorized by it, and this can be verified by visiting the "SAMA" website.