SAMA seeks public feedback on instructions for practicing finance aggregator service

The Saudi Central Bank (SAMA) offered "instructions for practicing finance aggregator service" for public feedback, to boost the principle of transparency and participation.

The instructions come as part of SAMA's role in supervising and controlling the digital financing brokerage facilities. They also reflect the central bank's continuous efforts to develop the financing sector in general, and to empower the financial technology sector in particular.  

The instructions are part of the licensing rules for activities in support of the financing activity issued by the central bank. They aim to set the minimum standards and procedures necessary to practice the digital financing brokerage activity, which contributes to the growth and sustainability of the activity, as per the principles and rules of protecting clients of financial institutions.

The feedback will be received within 15 days via Istitlaa platform, SAMA said.