Saudi Arabia: Implemented Updated Regulatory Sandbox for Financial Institutions and Fintechs
Description
Implemented Updated Regulatory Sandbox for Financial Institutions and Fintechs
On 6 September 2022, the Saudi Central Bank (SAMA) - in collaboration with FinTech Saudi - implemented the update to the Regulatory Sandbox Framework by starting to accept applications. The sandbox is a tool that was developed as part of Vision 203…
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