The Saudi Central Bank (SAMA) announced that the Cabinet approved the licensing of EZ Bank as a new digital bank, with a capital of SAR2.5 billion.
With the license, the total number of licensed banks in the Kingdom reached 39, including 15 local banks and 24 foreign bank branches.
During its meeting today, the Cabinet authorized the Minister of Finance to issue the license for the bank.
EZ Bank, established as a partnership between Ajlan & Bros Holding Group and Qatar National Bank (QNB), will operate in the retail digital banking sector.
