Permits granted to 4 new FinTech firms to operate under Regulatory Sandbox by Saudi Central Bank

Riyadh: The Saudi Central Bank (SAMA)  announced granting a new batch of companies the permit to provide Open Banking Solutions in the Regulatory Sandbox. Permitted FinTechs are: Wally Global Arabia Sanam Aliliddikhar for Information Technology Istishraf Al-Bayanat for Financial Technology Spare Arabian Financial Company This will bring the whole number of Read more…

E-Invoicing Penalties Announced

ZATCA has announced violations and penalties in relation to e-invoicing. The Zakat, Tax and Customs Authority (ZATCA) has given out more information regarding the penal provisions for non-compliance regarding the e-Invoicing regulations and requirements, that will be effective from 4 December, 2021 in the Kingdom of Saudi Arabia (KSA). Please find the Read more…