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Saudi Arabian Central Bank Testing Blockchain Technology

Dawn Wu

Summary: Saudi Arabian Monetary Authority (SAMA) announced on June 8 that the central bank has recently adopted blockchain technology for money transfers to the banking sector.

Saudi Arabian Monetary Authority (SAMA) announced on June 8 that the central bank has recently adopted blockchain technology for money transfers to the banking sector.

Per the announcement, the SAMA intends to strengthen the banking sector’s ability to provide credit facilities by exploring and experimenting with new technologies. The SAMA also intends to lead the global trends of testing these emerging technologies and develop Fintech as an authority in the financial sector.

By Dawn Wu

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