The Saudi Central Bank (SAMA) has permitted four fintech startups to operate under its Regulatory Sandbox, allowing them to test new solutions in the Saudi market. The permitted firms are SpireTech (open banking), The Lending Hub and Soar (peer-to-peer lending), and Ldun (factoring for micro, small and medium enterprises). SAMA framed the approvals as part of its efforts to develop the Saudi fintech sector and promote financial inclusion and innovation.
Saudi Arabian Monetary Authority 2025-02-11
Saudi Central Bank permits four fintech startups to test open banking, P2P lending and MSME factoring in its regulatory sandbox
The Saudi Central Bank has authorized four fintech startups, including SpireTech, The Lending Hub, Soar, and Ldun, to operate under its Regulatory Sandbox. This initiative aims to foster financial inclusion and innovation in the Saudi fintech sector by allowing these firms to test new solutions in the market.