SAMA Grants License to Majd Saudi Payments for E-Wallet Solutions

KSA, 26 December, 2024 : The Saudi Central Bank (SAMA) has licensed Majd Saudi Payments to provide e-wallet solutions, bringing the total number of licensed payment service providers in Saudi Arabia to 26.

This move aligns with SAMA’s efforts to enhance the efficiency of financial transactions and foster innovation in the payments sector, supporting financial inclusion across the Kingdom.

SAMA urges individuals and businesses to engage only with authorized financial institutions. A full list of licensed entities is available on SAMA's official website.