STC Bank gets a non -reluctance from Sama to start practicing banking operations

The Saudi Telecom Group (STC) announced that STC obtained yesterday that the Saudi Central Bank (SAMA) was not reluctant to start its banking operations in the Kingdom of Saudi Arabia.
According to the company’s statement on Saudi Arabia’s circulation, the launch of the STC digital bank is an important step in the march of digital transformation in the Kingdom, and is consistent with the enhancement of the use of digital banking services in the financial sector.
The launch of the bank, which provides services to the individuals and business sector, is the culmination of the success witnessed by the STC Pay, in the field of digital financial services. STC will provide many products and financial solutions that will contribute to the advancement of banking services.
The bank’s launch is compatible with the central bank’s goals to support economic growth and contribute to enhancing the trend towards digitization of the financial sector by enabling financial institutions to support the growth of the private sector by enhancing the depth and diversity of services and financial products.