Saudi Central Bank Licenses New Payment Financial Tech Company

Saudi Central Bank logo
Saudi Central Bank logo
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Saudi Central Bank Licenses New Payment Financial Tech Company

Saudi Central Bank logo
Saudi Central Bank logo

The Saudi Central Bank (SAMA) licensed a new payment financial technology company, "Moyasar Financial Company" to provide E-commerce payment services.

With Moyasar, the total number of payment companies licensed by SAMA reaches 16 companies, in addition to nine companies that were granted an "in-principle approval."

Moyasar provides e-payment solutions that significantly match the current needs of the client's online store.

The new license comes from SAMA's role to promote the development of the financial technology sector by allowing the entry of new players and products.

It aims to attract a value-adding new segment of investors and companies to strengthen and contribute to the sector's growth through compliance with SAMA's regulatory requirements.

SAMA plays a role in enhancing financial stability and supporting opportunities for growth and economic development in Saudi Arabia to achieve the goals of Vision 2030.

SAMA reaffirms its commitment to support and facilitate the development of payments companies and the financial technology sector, encourage innovation in financial services, and increase efficiency in financial transactions, which contributes to enhancing financial inclusion in the Kingdom.

Moyasar stated that its e-payment solutions are designed to offer: rich and flexible features, become usable and intuitive, provide in detail reporting to allow an instant and deep understanding of how the business runs, facilitate seamless integration with a large number of back-office systems, and ensure a high level of security and privacy protection.



Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
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Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held official talks on Sunday with US Secretary of Energy Chris Wright as part of his current visit to the Kingdom.

The talks at the ministry headquarters in Riyadh focused on strengthening the strategic relationship between Saudi Arabia and the US in the mining and minerals sector.

They explored ways to expand cooperation in the mining sector and emphasized the importance of minerals in the energy transition, advanced technology industries, and modern economies linked to clean energy, as well as their significance in the electric vehicle industry and its components.

The two sides discussed ways to boost economic cooperation and high-value investment opportunities in both countries and the enablers available to leverage these opportunities in support of deepening their longstanding partnership.

Alkhorayef invited the US energy secretary to attend the Future Minerals Forum, which will be held in Riyadh next year.

Wright later visited the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran. He was welcomed by Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, KFUPM President Muhammad Al-Saggaf, and senior university officials.

Wright was briefed on the university's academic and research specializations, as well as its efforts to foster innovation and develop human capital in the fields of energy, engineering, and science. He met with faculty members and students and learned about the university's initiatives to advance educational and research programs in line with the highest international standards.

He was introduced to KFUPM’s international collaboration and academic exchange programs, particularly those with leading US institutions, which are designed to foster knowledge sharing, encourage joint learning, and provide students with global exposure that enhances both their academic growth and career prospects.

This visit underscores KFUPM’s role as a leading academic and research institution in the energy sector and strengthens research and academic cooperation between Saudi Arabia and the US.