saudi-central-bank-unleashes-open-banking-services

Nakla08 Feb, 2023Finance

Saudi Arabia's central bank has introduced an 'Open Banking Lab' as it looks to speed up open banking's development. Saudi Central Bank has made an announcement for the launch of the Open Banking Lab released by SAMA in the month of November 2022, which is based on the Open Banking Framework. State authorities throughout the world are encouraging open banking that seeks to encourage creativity and enhance rivalry in financial institutions at various rates and in multiple methodologies.