Saudi Central Bank (SAMA)

The primary activity of the companies listed on the Saudi Central Bank (SAMA) page involves the provision of payment services. These companies offer products and services such as electronic payment processing, e‑wallets, mobile payment solutions, money transfers, as well as other digital financial services. Their target market mainly consists of individuals, merchants and businesses operating in Saudi Arabia, seeking to make or receive payments in a secure, fast and innovative manner within a regulated environment.

The Saudi Central Bank (SAMA) page dedicated to licensed payment service companies does not present the detailed history of a specific company, but highlights the regulatory framework and the evolution of the payments sector in Saudi Arabia. Here are the main stages of the sector’s development, as can be inferred from the structure and resources of SAMA:

1. Creation and regulation:
SAMA supervises and regulates payment service companies by issuing licenses and publishing specific rules to ensure the security and compliance of the sector. The opening of this market has enabled the emergence of numerous fintechs and companies specializing in electronic payments.

2. Product development:
Licensed companies offer a variety of solutions: electronic wallets, mobile payment services, payment solutions for merchants, money transfers, etc. Innovation is encouraged through the Regulatory Sandbox, allowing new products to be tested in a secure environment.

3. Partnerships and acquisitions:
The sector has seen a multiplication of partnerships between banks, fintechs, and international players to accelerate the digitalization of payments. Some companies have also made acquisitions to expand their offerings or strengthen their market presence.

4. Strategic changes:
The national strategy aims to increase the share of electronic payments in the economy, in line with Vision 2030. This is reflected in initiatives to reduce cash usage, improve financial inclusion, and strengthen cybersecurity.

5. Publications and reports:
SAMA regularly publishes reports on payment usage, sector developments, and the performance of licensed companies, allowing for the monitoring of major trends and key stages in the sector’s development.

For more details on each company, it is possible to consult the list of licensed companies and their profiles on the SAMA website.

The Saudi Central Bank (SAMA), also known as the Saudi Central Bank, was founded in 1952. Its institutional founder is the government of the Kingdom of Saudi Arabia. SAMA does not have an individual "founder," as it is a government entity created by royal decree.

The main members of SAMA’s leadership team are:

• Governor: Ayman Mohammed Al-Sayari
• Vice Governor: Fahad Abdullah Al-Dossari
• Vice Governor for Supervision: Khaled Hussein Al-Homoud
• Vice Governor for Technology and Development: Ziad Al-Yousef

Regarding payment service providers licensed by SAMA, the complete and up-to-date list of companies and their executives is available on SAMA’s official page dedicated to licensed payment service provider companies. Each listed company has its own management team, separate from that of SAMA.