The Saudi Central Bank (SAMA) has introduced Naqd – a government banking services platform – to provide government agencies with a secure and efficient platform for managing financial transactions.
This platform enables government agencies to access their accounts at the central bank and carry out financial transactions securely on a digital platform.
This initiative is part of the central bank’s strategy of providing banking services to government agencies and supporting digital development. It also aligns with the Saudi Arabia’s Vision 2030, which aims to transform the Kingdom into a global leader in various fields by promoting digital development and efficiency.
Naqd aims to digitise the financial operations services of government agencies on their accounts at SAMA through a unified and secure digital platform.
It also facilitates access to account information at all times, enables the management of these accounts, and provides instant monitoring of transactions to and from government agencies’ accounts.
The platform aims to offer electronic banking services that support government financial transactions, improve the user experience, enhance efficiency and productivity in financial transactions using the latest technologies, and reduce the time required to complete government banking procedures.
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