The Saudi Central Bank, SAMA, has recently announced the issuance of a license to “Smart Interaction for Digital Brokerage” to engage in the digital brokerage activity for financial entities.
With this license, the total number of companies licensed to conduct this activity in the Kingdom reaches three companies.
This decision comes within the framework of the Saudi Central Bank’s efforts to support and empower the finance sector, aiming to achieve higher efficiency and flexibility in financial transactions.
The bank also seeks to encourage innovation in financial services with the goal of enhancing financial inclusion in the Kingdom and providing financial services to all segments of society.
The Saudi Central Bank emphasizes the importance of dealing with licensed financial institutions or those authorized by SAMA, and encourages the public to verify the authenticity of licenses by visiting the official website.
This decision is part of the broader context of enhancing collaboration between the private sector and financial authorities to achieve the goals of developing the financial sector in the Kingdom of Saudi Arabia.
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