https://arab.news/4xgtw
RIYADH: A new digital platform will allow government agencies to access their accounts in the Saudi Central Bank easily and conveniently.
The central bank, also known as SAMA, has announced the launch of Naqd, a platform for government banking services. The service is designed to provide government entities with easy and secure access to their accounts at the central bank and to conduct financial transactions through a trusted digital platform.
The initiative is part of SAMA’s strategy to offer banking outlets to government entities and support digital transformation.
The central bank is fostering digitalization across the spectrum with the launch of several initiatives.
In May, SAMA announced the launch of a new undertaking — “View My Bank Accounts” — for individual bank account holders. The service enhances reliability and reduces the risk of suspicious transactions, unauthorized account use, and impersonation.
The Naqd platform aims to digitize financial transaction services for government entities, providing a unified and secure platform.
It facilitates round-the-clock access to account information, account management and real-time monitoring of transactions conducted from and to government accounts.
The platform is intended to deliver electronic banking services that support government financial transactions, enhance user experience, and increase efficiency and productivity in financial dealings using the latest technologies.
Additionally, it aims to reduce the time required to execute government banking procedures.