Riyadh, January 10, 2021, SPA -- The Saudi Central Bank "SAMA" announces the issuance of the “Open Banking Policy”, which articulates the main objectives of implementing Open Banking in the Kingdom and its positive effects on the financial sector. The issuance of this policy builds on the efforts of SAMA in diligently pursuing the strategic objectives of the Financial Sector Development Program, underscoring its commitment to promoting innovation, and trust within the sector, re-enforcing competition and raising efficiency. It is also aligned with the SAMA’s efforts to ensure the sector’s infrastructure readiness to enable the utilization of the most prominent financial technologies, and ensure the application of leading supervisory practices for new and innovative technologies enabled financial services. The policy can be viewed on link: https://www.sama.gov.sa/en-US/Documents/Open_Banking_Policy-EN.pdf --SPA 12:40 LOCAL TIME 09:40 GMT 0006 www.spa.gov.sa/w1481529