The Central Bank of Saudi Arabia (SAMA) announced the launch of draft rules for opening electronic wallets to request public input
male Central Bank of Saudi Arabia (SAMA)The number of electronic money companies licensed to provide electronic wallets in Saudi Arabia reached 11 companies, while the total number of electronic wallets exceeded 21 million wallets.
The Central Bank of Saudi Arabia (SAMA) announced an offering Draft rules for opening electronic wallets To request public opinions from interested people and specialists, through the poll platform of the National Competitiveness Center.
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The bank said that this step comes from its supervisory and oversight role, and in confirmation of following up on compliance with the relevant regulations and instructions as an initiative by SAMA, in which a number of regulatory requirements were set for licensed electronic money companies when opening electronic wallets for customers, which must be adhered to in order to protect customers in the sector. To support service providers to improve their services, which contributes to enhancing the safety and stability of this activity.
He added that views and comments on the draft rules for opening electronic wallets will be received within 15 days. To study the visuals and notes after the specified period has expired; For the purpose of approving the final version.
