Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) launched the enhanced Regulatory Sandbox Service through its e-services portal to support innovators in developing advanced financial solutions.

The enhanced service aims to improve applicant experience by offering fully integrated, automated processes and an advanced system for submitting and tracking applications, SAMA announced in a press release today.

This enhanced service, which will enable a more streamlined and flexible onboarding process, underscores SAMA’s commitment to advancing the Saudi financial sector by strengthening a regulatory environment that fosters innovation and enabling companies and financial institutions to access the Regulatory Sandbox more efficiently.

The enhancement comes in light of the growing demand to test innovative business models and concepts under SAMA's supervision, in alignment with the developments of the fintech sector.