ComplianceSource: SAMA
Open Banking API Guidelines
Tuesday, December 10, 2024Featured Update
Quick Summary
New technical standards enable secure data sharing between banks and licensed fintechs
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Open Banking API Guidelines
Digital Document
About this Update
Comprehensive guidelines for open banking implementation and data sharing standards in Saudi Arabia
SAMA has published detailed technical guidelines for implementing open banking APIs across Saudi financial institutions.
Implementation Timeline
- Phase 1: Account information APIs (Q1 2025)
- Phase 2: Payment initiation APIs (Q3 2025)
- Phase 3: Advanced services (Q1 2026)
The guidelines cover authentication, encryption, consent management, and data access protocols.
Sources & References
Document Info
StatusPublished
Published Date12/10/2024
SourceSAMA