D360 Bank launches operations in Saudi Arabia: SAMA

The Saudi Central Bank (SAMA) announced that D360 Bank obtained no objection to commence its banking operations in the Kingdom.

In an emailed statement to Argaam today, Dec. 17, SAMA said that D360 Bank is one of three local digital banks licensed in the Kingdom.

In February 2022, the Saudi Cabinet gave the go-ahead for Minister of Finance, Mohammed Al-Jadaan, to license D360 Bank. Investors in D360, a local digital bank, include the Public Investment Fund (PIF) and, Derayah Financial Co. complemented by several financial and investment connoisseurs within the Kingdom.