Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has received requests from local businessmen to launch a digital bank in the Kingdom, governor Ahmed Alkholifey said on Wednesday on the sidelines of the Future Investment Initiative’s (FII) second day.
The digital bank will provide its services for banks and clients in a bid to enhance financial inclusion, Alkholifey added.
The Saudi central bank’s governor further indicated that digital banks are already existed in some European and Asian countries and serve a large segment of customers.
Earlier on Wednesday, the top official said four regional financial institutions from neighbouring countries have applied for opening new banks in the kingdom, adding that their requests are being studied.
Organised by Saudi Arabia’s Public Investment Fund (PIF), the FII conference, dubbed “Davos in the Desert” began on Tuesday, 23 October and would end on Thursday, 25 October.
