Manasat Wasl Company for Communications and Information Technology has received a license from the Saudi Central Bank (SAMA) to provide finance aggregation services within Saudi Arabia.
According to SPA, the decision is part of SAMA’s efforts to support the financial sector, promote innovation in financial services, and enhance the flexibility and efficiency of financial transactions.
The move aims to expand access to financial services for all segments of society and advance financial inclusion. SAMA has emphasized that users should deal exclusively with authorized financial institutions, noting that the list of licensed entities is available on the SAMA website.
What license did Manasat Wasl Company receive from SAMA? Manasat Wasl Company for Communications and Information Technology was granted a license by the Saudi Central Bank (SAMA) to provide finance aggregation services. This activity is permitted within Saudi Arabia as part of SAMA’s efforts to promote innovation in financial services and support the broader financial sector.
What are the objectives behind SAMA’s decision to license this company? SAMA aims to advance financial inclusion and expand access to financial services across all segments of society. Additionally, the decision is intended to enhance the efficiency and flexibility of financial transactions while enabling the financial sector through the licensing of such services.
How can users verify authorized financial institutions according to SAMA? SAMA emphasizes that individuals and entities should deal exclusively with authorized financial institutions. To verify which financial institutions are licensed and permitted, SAMA directs users to visit the official SAMA website for the complete list.