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The Saudi Central Bank held an Open Banking Forum with banks on September 16 alongside Money20/20 Middle East, according to a notice published the following day. SAMA said the meeting brought together open-banking leaders from banks to review progress in the Kingdom and the role of financial institutions in developing secure, innovative services for individuals and businesses.
Participants discussed banks’ readiness for payment-initiation services and wider business use of open banking. They also considered service quality, coordination between banks and fintech companies, and consistency in the customer experience. SAMA described the forum as part of its work with the sector to develop open banking within a regulatory framework that balances innovation, service reliability and customer protection.