Banking infrastructure in Saudi Arabia

Abdullah M. Ben Jebreen, CEO of Abana talks the state of the ATM network in Saudi Arabia.

Compared to advanced countries like Korea and Japan, Saudi Arabia has very low ATMs per capita. Based on the talks with SAMA and the banks, there is a plan to increase the levels of ATMs, liberate some of the regulations on the ATMs, and allow ATMs in banks to be directly connected to SAMA.

SAMA recently announced MADA (the backbone for connectivity of payment systems, including point of sales, ATMs, and online transactions), which looks very promising. This initiative will resolve many problems, besides improving the network. There are three major telecom operators, which will also help bring the network up-to-date, on par with Europe and the States. Saudi Arabia has one of the best telecom infrastructure in the region.