Saudi Central Bank authorizes 4 fintech companies to operate under legislative sandbox

On 11/02/2025, the Saudi Central Bank issued an update regarding Saudi Central Bank authorizes 4 fintech companies to operate under legislative sandbox. Four companies have been approved: "Bian Digital for Information Technology" for open banking, and the companies "Horizon Enablement for Peer-to-Peer Financing", "Sour Financial" for peer-to-peer financing, and "Wadi North for Information Technology" for microfinancing, small, and medium-sized enterprises. This move aligns with the bank's efforts to develop the fintech sector and achieve strategic goals in financial technology.