Saudi Arabia STC Bank launches official digital banking services in Saudi Arabia

Saudi Arabia STC Bank launches official digital banking services in Saudi Arabia

STC Bank has received regulatory approval from the Saudi Central Bank (SAMA) to commence operations as a digital bank following successful completion of its pilot phase, the bank announced on January 29.

Saudi Arabia digital banking leap with STC Bank and D360

The full-scale public launch of STC Bank and D360 in Saudi Arabia is arguably the most impactful event yet within the Financial Services Development Program of the Saudi Vision 2030 initiative. The central bank, SAMA, aims not only to catch up with the level of digitalisation seen across the global financial services industry today, but also to position Saudi Arabia as a global leader in the sector. With two fully digital banks now in the market…

SAMA: STC Bank Launches its Banking Operations in the Kingdom

The Saudi Central Bank (SAMA) granted “STC Bank,” a licensed digital bank, no objection to commence its banking operations in the Kingdom. This development aligns with SAMA’s strategy to promote digital transformation ​and competitiveness within the banking sector while safeguarding monetary and financial stability. SAMA remains committed to strengthening the banking sector’s resilience, enhancing its attractiveness, and increasing its contribut…

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STC Bank secures approval to operate as a digital bank in Saudi Arabia

STC Bank, a subsidiary of the state-owned Saudi Telecom Company (stc Group), has received regulatory clearance to operate as a digital bank in Saudi Arabia.