​In accordance with the authority vested in the Saudi Central Bank (SAMA) under the provision of Saudi Central Bank Law - issued by Royal Decree No. m/36 dated 11/04/1442H, the Banking Control Law - issued by Royal Decree No. M/5 dated 22/02/1386H and the Implementation Rules for Banking Control Law; SAMA shall have the mandate to carry out supervisory and control tasks over the financial institutions, including banking activities and licensing.

Types of Licenses:

1. Establishing a domestic bank.

2. Establishing a digital bank.

3. Establishing a branch of a foreign bank.

The Guidelines:

In order, to carry on banking business in the kingdom of Saudi Arabia, the applicant shall review the following documents:

• Banking Laws and Regulations.

• Banking Rules and Instructions.

• Circulars Issued to the Banking Sector.

• Banking Licensing Guidelines and Minimum Criteria.

• Additional Licensing Guidelines and Criteria for Digital-Only Banks.

Application Forms:

All prospective applicants are encouraged to fulfill all requirements outlined in the guidelines before filling out the application forms, and to arrange an initial meeting with SAMA, applicants may contact SAMA at the addresses shown below. The form can be found under the links below:

• License Application Form

• Fit and Proper Form

Application Process:

The applicant shall submit an application to SAMA using the License Request Form, complete all information including prerequisite documents and files in a hard-copy and soft-copy, then submit it via the following addresses:

• Saudi Central Bank (SAMA)- General Department of Banking Control - Banking Licensing Division P.O. Box 2992, Riyadh 11169, Saudi Arabia.
  

• Email: (BankingLicenseApp@SAMA.GOV.SA).

If any changes occur to the given information by license applicant prior to SAMA's decision on the application, the license applicant shall notify SAMA as soon as possible.