Saudi Central Bank (SAMA)
What licence is required to issue electronic money in Saudi Arabia?
Content reviewed 2026-09-12 · How we check sources
Short answer
Electronic-money issuance is a regulated payment service under SAMA’s payments framework. A non-bank provider must fit the applicable Electronic Money Institution licence category under the current Implementing Regulations.
What this means
The rules distinguish payment-institution and electronic-money-institution categories and also recognise agents and electronic-money distributors. The correct structure depends on who legally issues the e-money and who merely distributes it.
Do not treat prepaid value or a wallet balance as ordinary software functionality when the business is actually the issuer of the monetary value.
The initial capital requirements are SAR 2 million for a Micro EMI and SAR 10 million for a Major EMI. A Major EMI’s ongoing capital must be at least the higher of its initial requirement and 2% of average outstanding electronic money. Licence scale limits and any additional SAMA conditions must also be met.
Official sources
SAMA — Law of Payments and Payment Services ↗SAMA — Implementing Regulations of the Law of Payments and Payment Services ↗Ask with your entity, activity and regulator.
Regulatory research, not legal advice. This answer has the scope and review date shown above; your institution decides applicability.