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Saudi Central Bank approves fintech companies Lean Technologies, Mod5r

Saudi Arabia recently launched a fintech strategy with the goal of becoming a regional hub for financial technology.
A picture taken on Nov. 18, 2020, shows an electronic billboard bearing portraits.

Saudi financial authorities Tuesday granted regulatory approval for two new fintech companies to operate. 

The Saudi Central Bank said that Lean Technologies and Mod5r can now provide open banking solutions in the kingdom. There are currently 38 financial technology companies operating under the bank’s regulation with the addition of the two firms, according to a press release. 

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