Fahad Al-Mubarak, Governor of SAMA

Saudi Arabia’s new instant payment system (Sarie) aims to promote innovation in the financial, banking and fintech sectors to meet client demand in all economic sectors, state-owned SPA reported, citing Fahad Al-Mubarak, Governor of Saudi Central Bank (SAMA).

 

Innovation in the payments sector is witnessing a swift and major transition, Al-Mubarak added, noting that SAMA realizes the importance of this sector.

 

The payment systems helped place the Kingdom among the highest ranks, playing a pivotal role in providing safe and advanced payment services that meet client demand and boost liquidity efficiency, he concluded.

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