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Saudi Arabia establishes open banking framework

Saudi Arabia wants to grow its fintech sector in line with its diversification plan, but finding the right talent could be a challenge.

The Saudi Central Bank announced the launch of its open banking framework yesterday. 

The framework includes laws, guidelines and technical standards for banks and fintech firms offering open banking services in the kingdom. The measure is in line with Saudi Arabia’s Vision 2030 economic diversification initiative, the official Saudi Press Agency reported. 

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