SAMA Approves EZ Bank as Saudi Arabia's 39th Licensed Bank with SAR 2.5 Billion Capital

The Saudi Central Bank has approved EZ Bank as the Kingdom's 39th licensed bank, a digital-first institution capitalised at SAR 2.5 billion designed to support Saudi Arabia's fintech development goals.

The Saudi Cabinet's approval of the licence adds another digital banking entrant to a market that has been progressively opening to new participants under SAMA's regulatory framework. EZ Bank joins D360 Bank and STC Bank as licensed digital banking institutions in the Kingdom.

The SAR 2.5 billion capital base positions EZ Bank as a well-capitalised entrant, providing the financial resources needed to build a competitive product range and absorb the initial losses typical of new banking operations. The substantial capital requirement reflects SAMA's insistence on financial resilience among digital banking licensees.

EZ Bank is expected to offer digital-first banking products targeting Saudi consumers and businesses through mobile platforms, competing with both established banks and existing digital entrants. The growing number of digital banking licences is intensifying competition in a market where established institutions have been investing heavily in their own digital capabilities.

SAMA's continued licensing of digital banks signals its commitment to using competition as a driver of innovation and service improvement in the Saudi financial sector. The regulator's measured approach, which requires applicants to demonstrate operational readiness before commencing operations, has been designed to balance innovation with financial stability.

The licence approval supports Saudi Arabia's Vision 2030 financial sector development objectives.