Opportunities available for new banking licenses: SAMA Governor

There are still opportunities available for banks looking to obtain operating licenses in Saudi Arabia, said Ahmed Abdulkarim Alkholifey governor of the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank.

SAMA published on its website an updated version of basic guidelines and standards needed to apply for a banking license, he said, as quoted by the Saudi Press Agency (SPA).

The guidelines also apply to foreign applicants wishing to obtain a license to practice banking business in the Kingdom.

Al-Kholifey said that a number of digital and traditional banks have already submitted their applications to operate in Saudi Arabia.