The Saudi Central Bank (SAMA) has introduced a revised regulatory structure for the kingdom’s digital financial infrastructure, officially rolling out the “Oversight Framework of the Payment Systems and Their Operators.” This new directive replaces the previous guidelines, stepping up supervisory measures over the rapidly expanding payments sector to ensure long-term stability and growth.
Quick Facts
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SAMA releases updated payment systems oversight framework.
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Mandates new security and reliability standards for operators.
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Aligns fintech operations with Saudi Vision 2030 goals.
Strengthening Digital Economy Regulations in Saudi Arabia
As digital transactions accelerate across the Kingdom, the updated measure is designed to tighten regulatory control, protect financial stability, and encourage innovation among fintechs and legacy financial institutions.
The framework imposes mandatory operational standards for payment system providers. These requirements obligate operators to meet strict security and reliability benchmarks, directly supporting the broader digital economy objectives outlined in Saudi Vision 2030.
By updating these rules, the central bank aims to create a more resilient financial ecosystem capable of handling increased transaction volumes while mitigating systemic risks.
Aligning With International Payment Standards
The scope of the new regulatory update is strictly aligned with the provisions of the Law of Payments and Payment Services, which was previously enacted via a royal order alongside its executive regulations.
SAMA has formalized the supervisory methodology within the framework. This includes specific oversight tools, self-assessment protocols, and oversight assessment procedures that payment systems and operators must adhere to.
The update clearly defines the legal and operational obligations of all payment systems functioning in the Kingdom, bringing domestic regulations up to speed with global financial standards. Operators and stakeholders can access the full details of the updated framework through SAMA’s official Rulebook portal.
About The Saudi Central Bank (SAMA)
The Saudi Central Bank (SAMA) is the principal financial regulatory authority in Saudi Arabia. It is responsible for issuing the national currency, managing foreign exchange reserves, and maintaining price and exchange rate stability. SAMA also regulates commercial banks, exchange dealers, insurance companies, and the broader payments and fintech sector to ensure the soundness of the Kingdom’s financial system.
Source: Zawya
