SAMA Open Banking Technical Standards

The Saudi Arabian Monetary Authority (SAMA) Open Banking Framework establishes comprehensive technical standards for open banking across the Kingdom. Launched as part of Saudi Arabia's Vision 2030 financial sector development programme, the framework mandates that all banks and fintech companies implement standardised APIs.

The technical standards cover Account Information Services (AIS), Payment Initiation Services (PIS), and Confirmation of Availability of Funds (CAF). The security profile is aligned with FAPI standards, requiring mutual TLS, signed request objects, and robust consent management.

SAMA provides the Open Banking Lab, a dedicated testing environment where banks and fintechs develop, test, and certify their implementations. The framework includes detailed business rules, customer experience guidelines, and operational requirements.

Saudi Arabia's open banking implementation is among the most comprehensive in the Middle East, benefiting from strong regulatory backing and significant investment in financial technology infrastructure. The framework continues to evolve with plans to expand toward broader open finance covering insurance and investment products.