BNPL fintech firms can provide short-term credit services upon being licenced by the central bank as restricted licence finance companies
With this transaction, the BNPL platform will have raised a total of $500m in equity funding, and well above $400m in debt financing
Former governor, Dr Fahd Al-Mubarak, takes on the role of adviser at the royal court
The bank is tracking the development of banks and fintechs to ensure their readiness to launch open banking services in Q1 2023
Sheila Alrowaily is among a growing number of women taking on leadership roles in finance across the Gulf region
The programme has helped banks avoid having to recognise credit as non-performing
The new charter also formally changed the name of the central bank, from Saudi Arabian Monetary Authority to Saudi Central Bank