The Saudi Central Bank (SAMA) announced the licensing of Malaa Information Technology to engage in payment services 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 provide payment services in the Kingdom has reached 33.

This decision comes as part of the central bank's efforts to support and enable the payments sector, to enhance the efficiency and flexibility of financial transactions, encourage innovation in financial services, and aim to improve financial inclusion and ensure access to financial services for all segments of society.

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