Al-Sharq Al-Awsat, 14 July 2024: The Saudi Central Bank (SAMA) has launched the government banking services platform (Naqd), which allows government agencies to easily access their accounts with the Central Bank and carry out financial operations on a secure digital platform.

According to SAMA, this step comes within the framework of the Central Bank’s strategy to provide banking services to government agencies and support digital development.

It will contribute to the digitisation of government agencies’ financial operations services offered for their accounts with the Saudi Central Bank, under a unified and secure digital platform.

It will also facilitate round-the-clock access to their account information and account management, in addition to immediate follow-up of the operations carried out to and from government agencies’ accounts.

The platform aims to provide electronic banking services that support government financial transactions.

It is designed to improve the user experience, improve efficiency and productivity in financial transactions by using the latest technology, and contribute to reducing the time required for implementing government banking procedures.

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