The Saudi Arabian Monetary Agency (SAMA) has launched a new electronic service to serve investors, businessmen, traders and general consumers, as it launched its new window “SADAD Account” in the presence of His Excellency the Governor Dr. Fahad bin Abdullah Al Mubarak, which provides a safe and electronic payment option online without the need for cards or cash, and the service works to deduct directly from the consumer's SADAD account for e-commerce and deposit it in the merchant's account.

During a press conference on this occasion, Dr. Al Mubarak explained that the “SADAD service” will directly support the national economy in terms of moving to the digital economy and the economic efficiency and various gains it provides, creating the necessary environment for digital trade and supporting small businesses based on the Internet in line with the general direction of the state represented in the National Transformation Program.

During the press conference, Dr. Al Mubarak said that SADAD service will directly support the national economy. <The Governor emphasized that the banks that are currently connected to the service are the National Commercial Bank, Samba Financial Group, Riyad Bank, Saudi British Bank, SABB, Bank Al Jazira, Al Rajhi Bank, Arab National Bank and the Saudi Investment Bank.