RIYADH: The Saudi Central Bank announced on Sunday granting licenses to two new payment financial technology companies to operate in the Kingdom.
Enjaz Payments Services Co. received a license to provide electronic wallet service, whereas, Marta Financial Co. to provide payment services through points of sales.
This brings the total number of payment companies licensed by SAMA to 19, in addition to seven companies that received an In-principle approval.
This comes as part of SAMA’s role to promote the development of the financial technology sector to ensure ultimate stability and growth of the sector by the enticing entry of new products and luring new players and investors, according to a press release.
Meanwhile, SAMA accentuates the importance of utterly dealing with licensed or authorized financial institutions, it added.
