• D360 Bank has received SAMA approval to launch its digital banking operations.
• The bank offers Shariah-compliant financial services through a fully digital platform.
• Customers can open accounts in minutes and access exclusive services via the D360 app.

Digital bank D360 Bank has officially received approval from the Saudi Central Bank (SAMA) to initiate its digital banking operations.

The bank’s mission is to provide Shariah-compliant financial services, enhancing credit access to a broader segment of the Saudi population by leveraging modern technologies in line with regulatory requirements.

Strategic Backing and Contribution to Saudi Arabia’s Digital Transformation

Backed by key investors, including the Public Investment Fund (PIF) and Derayah Financial, D360 Bank plays a vital role in the digital transformation of Saudi Arabia’s financial sector.

By adopting innovative approaches, the bank ensures that its operations contribute to the Kingdom’s evolving financial landscape.

Seamless Banking with the D360 App

Customers can now open a digital bank account within approximately two minutes using the D360 app. The app offers a range of exclusive services, including an exceptional travel experience through the D360 Bank card.

This eliminates foreign currency exchange fees, offers the lowest international transfer fees, competitive exchange rates, and no-cost local transfers. In addition, customers can pay bills, transfer money securely, and access a host of other banking services 24/7 from anywhere.

Personalized and Accessible Financial Services

D360 Bank utilizes data insights in compliance with regulatory standards to deliver personalized financial services tailored to each customer’s needs.

Additionally, this ensures a forward-thinking, accessible banking experience that supports financial inclusion while maintaining full compliance with regulations and guidelines.

Commenting on the SAMA approval, Taha A. AlKuwaiz, Chairman of D360 Bank, expressed his gratitude: “I am deeply grateful to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Crown Prince Mohammed bin Salman for their unwavering support. I would also like to sincerely thank the Saudi Central Bank (SAMA) for its vital role in enabling and advancing the banking industry.”

AlKuwaiz further added: “The launch of D360 Bank marks a new chapter in providing innovative and comprehensive digital banking services to all segments, aligned with global digital standards, supporting financial inclusion in Saudi Arabia and aligning with the objectives of the Financial Sector Development Program, contributing to the ambitious goals of Vision 2030 and reinforcing Saudi financial sector leadership in the region and globally.”

CEO’s Insights on the Launch and Demand

Eze Szafir, CEO of D360 Bank, highlighted in an official press release: “SAMA’s relentless support and supervision has been instrumental in our journey, and made us a better bank. Now, we are ready to begin opening accounts for our waitlisted customers.

“During our pre-launch phase, D360 Bank witnessed a high demand, demonstrating the remarkable progress and leadership of the Saudi banking sector regionally and globally.

“Today, Saudi Arabia is pioneering financial innovation with an advanced digital banking ecosystem that boosts the competitiveness of the Saudi economy, positioning it among the world’s leading financial markets.”

Szafir also emphasized the bank’s commitment to offering seamless services: “Our customers tell us that D360 Bank is the best travel bank, providing a simple, secure digital experience at competitive exchange rates.

“We remain committed to delivering a fast and secure banking experience, with products and services that meet our customers’ needs, backed by our cutting-edge infrastructure and technology.”

Focus on Digital Innovation and Financial Inclusion

Furthermore, D360 Bank emphasizes digital innovation to support financial inclusion and drive the digital transformation of the banking sector in Saudi Arabia. The bank aims to be the preferred Sharia-compliant digital bank, offering flexible and convenient banking services.

This strategy also aligns with Vision 2030’s objectives of developing the financial sector and enhancing reliance on financial technology.

As a 100% digital bank, D360 Bank operates without physical branches, ensuring that all banking services. The services ranges from account opening to daily transactions, are handled swiftly and securely through the D360 Bank app.