SCB completes connectivity to Saudi Business Center through Tanfeeth program
The Saudi Central Bank (SAMA) announced the completion of connectivity to the Saudi Business Center utilizing Tanfeeth program.
The solution aims at optimizing system connectivity and integration between Saudi government entities and banks operating in Saudi Arabia, with a view to promoting automation of processes and acceleration of work flows to realize Saudi Vision 2030 objectives.
SAMA highlighted that Tanfeeth program seeks to promote operational efficiency by overcoming procedural hurdles in coordination with the government entities.
It is also a step towards achieving the strategic objectives of SAMA by upgrading its IT infrastructure and optimizing administrative processes including speed, quality, and integration with the financial institutions operating in Saudi Arabia.