Saudi Arabia: Adopted Updated Regulatory Sandbox for Financial Institutions and Fintechs
Description
Adopted Updated Regulatory Sandbox for Financial Institutions and Fintechs
On 31 August 2022, the Saudi Central Bank (SAMA) - in collaboration with FinTech Saudi - announced an update to the Regulatory Sandbox Framework. It is a tool that was developed as part of Vision 2030. The sandbox's function lies in giving financial…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank
Complete timeline of this policy change
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2019-02-11
adopted
2022-08-31
adopted