The Saudi Central Bank convened bank representatives at an Open Banking Forum alongside Money20/20 Middle East to review the development of Saudi Arabia’s open banking ecosystem and discuss priorities for its next stage. The discussions continued the central bank’s broader coordination with financial institutions on digital services, technical integration and customer experience. Priorities included preparing banks for Payment Initiation Services and increasing businesses’ use of open banking services. Participants also considered how banks and fintech companies could strengthen coordination, improve service quality and deliver a more consistent customer experience within a regulatory framework that supports innovation, service reliability and customer protection.
2026-09-17Saudi Arabian Monetary Authority
Saudi Central Bank reviews open banking progress and next-stage priorities with banks
The Saudi Central Bank convened banks to review open banking progress and discuss preparations for Payment Initiation Services and wider business adoption. Discussions also covered stronger bank-fintech coordination, service quality and a more consistent customer experience.