finpeel Answers · KSA · updated 2026-08-14

Do I need a licence to provide open banking services in Saudi Arabia?

Yes, if you provide regulated open-banking services such as payment initiation or payment-account information as a service provider. SAMA began formal licensing of fintech open-banking service providers in March 2026 within its payments/open-banking framework.

Saudi open banking is no longer only a sandbox or framework-development topic. The payments implementing regulations already recognise Payment Initiation and Payment Account Information services, and SAMA has moved to formal licensing.

A technology supplier that only provides infrastructure to a licensed participant can have a different perimeter, so identify who provides the regulated service to the customer.

Regulator: Saudi Central Bank (SAMA)

Primary sources: SAMA — Implementing Regulations of the Law of Payments and Payment Services · SAMA — Open Banking

Directional — not legal advice. Verify with the regulator before committing.

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