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

The Saudi Central Bank (SAMA) has announced the Cabinet's approval to license EZ Bank, a new digital bank with a paid-up capital of SAR 2.5 billion (approximately USD 667 million), bringing the total number of licensed banks operating in the Kingdom to 39.

The announcement, issued on 1 October 2025, covers 15 Saudi banks and 24 foreign bank branches under SAMA's current perimeter. EZ Bank is licensed specifically as a retail digital bank and will operate without physical branches, relying entirely on digital platforms to serve customers.

Backed by Ajlan & Bros and QNB

EZ Bank is a joint venture between Ajlan & Bros Holding Group, one of Saudi Arabia's largest family-owned conglomerates, and Qatar National Bank (QNB), which is separately launching its own digital bank "ezbank" in Egypt under a different licence.

In its statement, SAMA said the new licence "reflects the strength, resilience, and attractiveness of the banking sector and the Saudi economy", positioning the approval as further evidence of Vision 2030's push to broaden the financial services landscape.

Another step in Saudi's digital banking build-out

EZ Bank joins a growing cohort of licensed Saudi digital banks including STC Bank, D360 Bank and stc pay's banking operation, reflecting SAMA's ongoing strategy to increase competition and accelerate financial inclusion through digital-only institutions.

With SAR 2.5 billion of capital, EZ Bank arrives with meaningful firepower - roughly on par with the capitalisation of existing Saudi digital banks - and the backing of two deep-pocketed shareholders. The real test, as always, will be execution: building a product that stands out in a market where incumbents have been investing heavily in their own mobile and digital channels.