Saudi Arabia: Insurance FinTech Technology Rules Proposed

Saudi Arabia: Insurance FinTech Technology Rules Proposed News developments

Saudi Arabia: Insurance FinTech Technology Rules Proposed

Arab News, 18 October 2021: Saudi Arabia’s Central Bank has launched a consultation on proposed Insurance FinTech Technology Rules. The consultation ends on 16 November.

The new rules aim to allow insurance FinTechs to work within a regulatory framework which keeps up with general sectorial developments and insurance technology services in particular.

It covers features like encouraging fair competition, obligations for practitioners, the accuracy and preservation of customer information and other consumer rights.

Also reported in Al-Eqtisadiya on 18 October 2021. For full story see https://www.aleqt.com/2021/10/18/article_2192476.html.

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Marlé Van Sandwyk