This comes in line with the internationally agreed timeline set by the Basel Committee on Banking Supervision (BCBS), the global standard-setter for the prudential regulation of banks.
An overview of key issues surrounding digital markets, payment services and funding for fintech businesses operating in Saudi Arabia, with particular regard to recent developments.
In light of the extra precautions the Saudi government is taking to mitigate financial crimes, it is necessary to shed more light on the Banking Control Law. First, the law clearly states that no bank shall undertake any of the following actions: Granting a loan or extending credit facilities, issuing a guarantee, or incurring any other financial liability on the security of