Licensing Conditions

Effective from Feb 24 2020 - Feb 23 2020
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To apply for a Digital-only Bank license in Saudi Arabia, the following conditions must be met:
1.	The Digital-only Bank should be set up as a locally incorporated joint-stock company.
2.	A promoter should have:
	a.	experience and knowledge in the financial industry;
	b.	appropriate technology-related experience and knowledge; and
	c.	financial capacity to support setting up the Digital-only Bank.
3.	An applicant must possess a team with adequate expertise to discuss relevant aspects of the application.