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Saudi Arabia

Who we are

Saudi Arabia at a glance

Saudi Arabia located in the Middle East, is characterized by its rich cultural heritage, vast deserts and modern urban centers. It is divided into 13 states, with Riyadh as the capital city. The estimated population is approximately 35 million people.

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Banking

Banking in Saudi Arabia operates within a modern and regulated financial system. The central bank of Saudi Arabia is the Saudi Arabian Monetary Authority (SAMA). SAMA is responsible for monetary policy, currency issuance and regulating and supervising the financial sector. There are approximately 36 financial institutions operating in the country, with some of the largest being Saudi National Bank (SNB), Al Rajhi Bank, Riyad Bank and National Commercial Bank (NCB).

Peer-to-Peer Lending Regulations

P2P lending is regulated by the Saudi Arabian Monetary Authority (SAMA).

Financial Regulators

The financial regulator in Saudi Arabia is the Saudi Arabian Monetary Authority (SAMA). It is responsible for a wide range of regulatory and supervisory functions related to the financial sector. Its primary objective is to maintain the stability and integrity of the financial system in the country.
Website: www.sama.gov.sa
Address: King Abdulaziz Road, Riyadh, Kingdom of Saudi Arabia, Postal Code: 11162
Phone: +966 11 463 3000
Email: info@sama.gov.sa

Small Claims Procedure

The Small Claims Procedure (SCP) in Saudi Arabia is designed to provide a simplified and efficient legal process for resolving small civil disputes for maximum claim amount of 50000 SAR.To initiate the SCP process, a claimant must complete the necessary forms and submit them to the relevant court or authority, which is followed by mediation, hearing and judgment.