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The Saudi Central Bank (SAMA) has officially released an updated “Oversight Framework of the Payment Systems and Their Operators,” replacing the previous framework governing payments and financial settlement systems in Saudi Arabia.
This update reflects SAMA’s continued commitment to strengthening regulatory supervision and supporting the rapid growth of the Kingdom’s payments and fintech sector. The revised framework aligns with the Law of Payments and Payment Services, issued under Royal Decree No. (M/26) dated 22/03/1443 AH, along with its implementing regulations.
The new framework clearly defines its scope and introduces enhanced supervisory methodologies, including structured oversight tools, self-assessment mechanisms, and regulatory evaluation processes. It also outlines the responsibilities and compliance obligations of payment systems and their operators, ensuring alignment with both local regulations and international standards.
This move is expected to improve transparency, risk management, and operational resilience across Saudi Arabia’s payment ecosystem further reinforcing investor confidence and digital transformation goals under Vision 2030.
Businesses and financial service providers can access the updated framework through SAMA’s official Rulebook.
How J K Can Help
At J K Management Consultancies, we support businesses in navigating Saudi Arabia’s evolving regulatory landscape, including:
- Payment system compliance & regulatory advisory
- Fintech licensing and approvals
- Company formation in Saudi Arabia
- Ongoing compliance and legal documentation support
With changing frameworks like this, expert guidance ensures your business remains compliant and competitive in the Saudi market.
